Novisto Raises $20 Million in Series B

by Kay Aloha Villamor in May 25th, 2023

Novisto, a Montreal, Canada-based ESG data management software company, raised $20 million in a Series B funding round to accelerate product development and expand market reach.

The round was led by Inovia Capital, with new investments from Portage and SCOR Ventures, as well as participation from existing investors White Star Capital and Diagram Ventures.

The funding secured by Novisto will support the scaling of product development and the provision of top-tier ESG data management solutions to new and existing customers across various industries and geographies.

The funds will also facilitate the expansion of Novisto's customer base and the growth of its global team to meet the increasing demand for ESG data management.

Novisto's comprehensive data management platform provides a solution that allows companies to future-proof their ESG data and reporting against more stringent disclosure requirements.

"We are thrilled to have the support of such a strong group of investors as we continue to grow and expand our platform," said Charles Assaf, CEO and co-founder of Novisto. "This funding round will allow us to further develop our product offering and continue to provide our customers with the best possible solutions for ESG data management, so that they can make better decisions that contribute to the sustainability of the economy, environment, and society."

Company: Novisto, Inc.

Raised: $20.0M

Round: Series B

Funding Month: May 2023

Lead Investors: Inovia Capital

Additional Investors: Portage, SCOR Ventures, White Star Capital, and Diagram Ventures

Company Website: 

Software Category: ESG Data Management Software

About the Company: Founded in 2019, Novisto contributes to the sustainability of the economy, environment, and society by empowering companies to make better decisions and disclosures through our ESG data management software. Novisto is building the ERP for ESG, enabling companies to leverage a data-centric approach to better report on and manage their sustainability-related issues. Novisto supports major global companies, including Asana, Manulife, and Sanofi, among others and has over 100 employees located in North America and Europe and is headquartered in Montreal, Canada. 


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