Novisto has raised $27m in a Series C funding round to further develop its ESG platform and strengthen its European presence.
The round was led by Inovia Capital, with participation from existing backers White Star Capital, SCOR Ventures, and Sagard. This latest raise brings Novisto’s total funding to over $55m.
Founded to help enterprises manage and disclose ESG data, Novisto’s platform supports global companies with the collection, consolidation, and governance of sustainability information. It is designed to facilitate compliance with a growing list of ESG regulations, including the EU’s Corporate Sustainability Reporting Directive (CSRD).
The fresh capital will be used to accelerate innovation within Novisto’s platform and scale operations in Europe, where regulatory momentum around ESG disclosures continues to build. The company aims to match its North American workforce in Europe, reflecting strong demand in the region.
Among Novisto’s new clients is The Emirates Group, which has joined a growing list of global businesses turning to the platform for streamlined ESG reporting. Sanofi, one of the first firms to issue a CSRD-compliant report, used Novisto’s software to meet the EU’s updated disclosure requirements.
Novisto’s integration with key distribution partners such as S&P Global and SLB’s Digital Platform Partner Program is helping expand access to its solutions. Clients report improved data quality and reduced time for reporting assessments by up to 50%.
Sanofi head of ESG Laurent Lhopitalier said, “Sanofi is taking on some of the world’s most pressing challenges to build a healthier, more resilient world. Our partnership with Novisto has accelerated our journey towards our first CSRD aligned disclosures; and has established new standards for data governance and data quality.”
Novisto CEO and co-founder Charles Assaf said, “We have seen that forward-thinking leaders are not waiting for full policy clarity to act on sustainability reporting and ESG compliance: they are acting now. The market demands it of a leading organisation, and it encourages transparent, accurate and decision-grade sustainability information. We see a huge and growing global opportunity in front of us, underpinned by our current momentum, and spearheaded by senior leaders at global companies who are committed to making their businesses more resilient and sustainable.”
Inovia principal Mia Morisset added, “Novisto is trusted by leading global enterprises, a testament to the strength of its best-in-class product. Since its Series B, we’ve had the opportunity to witness firsthand how Charles and his team have built a uniquely positioned solution for success. We look forward to continuing to support Novisto as it scales.”
Previously, Singapore-headquartered Xcelerate, a prominent governance, risk & compliance (GRC), and environmental, social & governance (ESG) platform, closed a funding round exceeding $25m.
This substantial financial injection was led by Federated Hermes Private Equity, a global investor with a noteworthy $6.4bn in assets under management and a 30-year history of fostering high-growth businesses. The round also benefited from the enthusiastic participation of existing institutional investors Altair Capital and Exacta Capital Partners, alongside further investments from Xcelerate’s co-founders and other current shareholders.
Xcelerate stands at the forefront of offering tech-enabled, scalable compliance solutions. These solutions cater to highly regulated and complex industries, thanks to a robust team of subject matter experts.
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