Datamaran, a London, England-based ESG risk management software platform, announced that it completed £11.7 million in Series B funding.
The round was led by Fortive, with participation from American Electric Power, both long-standing partners, and clients.
This new round of funding will enable additional product innovation and help ensure Datamaran remains at the cutting edge of the shift towards ESG as a strategic business tool.
The investment will also support the expansion of its U.S. team and position Datamaran to scale effectively to meet the needs of the expanding ESG insights market.
"After years of expansion, organic growth and achieving profitability, we see even more potential for the strategic insight we provide. This investment provides us with the capital necessary to match the growth opportunities that are increasing at an ever-faster pace as customers, employees and regulators double down on their ESG expectations," said Marjella Lecourt-Alma, CEO and Co-founder of Datamaran.
In addition to Fortive and AEP, other companies currently using Datamaran include PepsiCo, Walgreens and Dell, while partnerships with EY, DLA Piper, Deloitte and Intelex (a Fortive company) allows a wider range of organizations access to the valuable data insight for strategic ESG decision-making.
Company: Datamaran Limited
Round: Series B
Funding Month: September 2022
Lead Investors: Fortive
Additional Investors: American Electric Power
Company Website: https://www.datamaran.com/
Software Category: ESG Risk Management
About the Company: Datamaran is the only automated solution available to help leaders take ownership of their ESG strategy. The Datamaran platform enables evidence-based insights and a near real-time assessment of material ESG risks tailored to a client's sector, geography, or stakeholder context. This insight allows leaders to create an informed and fully integrated ESG and business strategy that all stakeholders can understand. Datamaran is the only software analytics platform worldwide that identifies and monitors external risks, including ESG. In addition to being trusted by blue-chip companies and top-tier partners, it has been recognized as best practice by the European regulator EFRAG for bringing a data-driven business process for materiality analysis and risk monitoring in-house - at any time. Datamaran's patented technology offers real-time analytics on strategic, regulatory, and reputational risks specific to your business and value chain.