Novisto has secured $27 million in Series C funding, led by Inovia Capital, with participation from White Star Capital, SCOR Ventures, and Sagard. Bringing the company’s total funding to $55 million.
Novisto’s revenue has nearly tripled since its last investment round in 2023. The new capital will support expansion in Europe, where ESG regulations such as CSRD, EU Taxonomy, and CSDDD are shaping corporate reporting standards. The company plans to build a European team matching its North American presence, strengthening its ability to serve clients navigating corporate sustainability reporting mandates.
Recent ESG market analysis indicates rapid growth: the ESG data management platforms sector is projected to reach $4.27 billion by 2032, expanding at a CAGR of 17.4%. As regulatory pressures increase, companies are shifting toward real-time ESG reporting, with firms like CNX Resources moving beyond static annual disclosures.
CEO Charles Assaf emphasized the accelerating demand for reliable ESG data:
“Forward-thinking leaders understand that sustainability reporting isn’t something to delay—it’s an expectation. Businesses that proactively ensure transparency and accountability will be better positioned for long-term success.”
The EU’s Omnibus package is expected to consolidate reporting requirements while maintaining accountability for large enterprises.
Novisto’s client base continues to expand, with The Emirates Group joining its roster of prominent customers. Distribution agreements with S&P Global and SLB’s Digital Platform Partner Program further enhance Novisto’s ability to support businesses looking to strengthen their sustainability strategies.
A recent success story is Sanofi, which used Novisto’s ESG data platform to produce one of the first 15 CSRD-compliant reports.
Laurent Lhopitalier, Head of ESG at Sanofi, praised Novisto’s impact:
“Our partnership has set new benchmarks for data governance and quality, helping us align with CSRD requirements efficiently.”
Meanwhile, investor sentiment is putting pressure on ESG transparency: a PwC survey found that 94% of investors believe corporate ESG reports contain unsupported claims, and 85% think disclosures should be assured at the same level as financial statements.
Novisto’s platform enables companies to collect, manage, approve, disclose, and defend sustainability data in one system, improving data accuracy and stakeholder confidence while reducing reporting time by 50%. Increasingly, AI and machine learning are being integrated to enhance ESG insights, improving data accuracy while supporting compliance.
With evolving ESG requirements and growing scrutiny from investors, Novisto’s latest funding positions it to help enterprises navigate compliance, while ensuring ESG data remains transparent, accessible, and actionable.
