Novisto, a Canadian startup specializing in ESG tracking, has successfully secured $27 million in Series C funding. Founded in 2019, its platform automates sustainability data management for corporate clients. This software not only aids in tracking sustainability metrics but also serves as a formal record system to ensure compliance and integrity in reporting. With enterprises like Meta and Sanofi in its client portfolio, Novisto navigates a challenging fundraising environment amid changing ESG attitudes, maintaining a subscription-based revenue model to sustain growth towards better corporate sustainability practices.
Novisto, a Canadian startup launched in 2019, has secured $27 million in Series C funding to expand its corporate ESG tracking platform.
The unique aspect of Novisto's platform is that it acts as a system of record, driving not just reporting and disclosure but also broader sustainability management.
Cofounder and CEO Charles Assaf emphasizes the importance of having targets tracked in a reliable system rather than an Excel sheet for effective management.
Despite challenges in ESG funding due to fluctuating global policies, Novisto continues to support major brands like Meta and Sanofi in their sustainability efforts.
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