EcoVadis plans to use the funding to enhance its AI and ML capabilities as well as explore strategic M&A opportunities. Here are the top-line bullets you need to know.
EcoVadis, a provider of business sustainability ratings, has raised $500M in a Series D. The round drew participation from Astorg Partners, Beyond Net Zero, GIC, and Princeville Global.
HOW’S THE COMPANY PERFORMING?
- France-based EcoVadis leverages artificial intelligence and machine learning to provide businesses with sustainability ratings.
- EcoVadis has over 95K customers, including LVMH, L’Oreal, Unilever, Amazon, JPMorgan, and Johnson & Johnson.
- The company’s revenue has grown by 50% over the past 12 months.
- The company has about 40 partners, including Microsoft, Taulia, SAP, Coupa, and Celonis.
- The startup is supported by a team of 3K employees and has offices in France, the US, the UK, Tunisia, Spain, Hong Kong, Mauritius, Poland, Canada, Germany, Australia, and Japan.
WHY DOES THE MARKET MATTER?
- The global environmental health and safety market is expected to reach a value of $8.9B by 2026, growing at a CAGR of 7.4%, according to Markets and Markets.
- The rise of carbon emissions regulations, increased focus on compliance, and greater awareness of business risks stemming from climate change have all contributed to industry growth.
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