Pitch Deck: Novisto Secures $27 Million Sequence C for ESG Reporting

A startup that is serving to corporations monitor their ESG efforts has simply secured a $27 million Sequence C.

Canadian startup Novisto, launched in 2019, presents a software program platform for purchasers to observe and measure their sustainability impacts.

“We now have an accounting-like platform for broader sustainability-related knowledge for corporates,” cofounder and CEO Charles Assaf advised Enterprise Insider.

“What is exclusive about that platform is that it turns into the system of information that basically drives not simply the reporting and the disclosure train, but in addition the broader administration of the sustainability capabilities,” he added.

Novisto’s platform automates the gathering and administration of an organization’s sustainability knowledge — a job that may in any other case be time-consuming if performed manually. It then compares an organization’s ESG efforts in line with trade benchmarks and descriptions how effectively itis doing in relation to its opponents, for instance.

“When your board is requesting particular targets to be tracked, these targets cannot sit in an Excel sheet — they’ve to take a seat in a system of document that ensures the auditability of that data,” Assaf stated. “So a number of corporations have proceeded with externally assuring their ESG stories, and we now have a mechanism to help this.”

As an enterprise software program startup, Novisto makes its cash by charging a month-to-month subscription price to purchasers. Clients embody the likes of Meta, JetBlue, and pharma big Sanofi, amongst different conglomerates and blue-chip corporations.

Amid fluctuating attitudes towards ESG coverage globally, fueled partly by a change within the US administration, local weather tech startups have been dealing with extra headwinds whereas fundraising. In consequence, startups within the sustainability sector have discovered extra alternatives to increase in Europe, the place there are extra stringent pointers for ESG reporting.

The Sequence C was led by Inovia Capital, with participation from all earlier traders, together with White Star Capital, SCOR Ventures, and Sagard. This brings the startup’s whole funding to $55 million.

With the money injection, Novisto will develop its staff in Europe.

Try the pitch deck used to safe the contemporary funding.