Sustainability tech company Novisto raised a Series C funding round totaling $27 million.
Enterprises look to Novisto for software tools to help them streamline sustainability reporting workflows, and the Canadian company is planning to build up its presence in both the European and North American markets in response to increased regulatory risk and uncertainty.
Since Novisto raised a $20 million Series B round in 2023, its revenue has almost tripled, according to a news release. Its new capital will go toward platform innovation and capitalizing on international market opportunity. Inovia Capital led the raise, which also saw participation from all of Novisto’s previous investors, including White Star Capital, SCOR Ventures and Sagard.
“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 . . . 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,” Charles Assaf, Novisto CEO and co-founder, said in a statement.
