Novisto US$27m Series C: Powering Sustainability Reporting
As sustainability reporting climbs higher on the corporate agenda, Novisto has secured US$27m Series C funding round. The Montreal-founded company, known for its advanced sustainability reporting software, is attracting attention from investors and global enterprises alike.
With new backing led by Inovia Capital, Novisto is gearing up to help more organisations navigate the growing complexities of ESG compliance, particularly as regulations tighten across Europe and North America.
This latest investment not only marks a milestone for the company, but also signals the increasing urgency for businesses to get serious about transparent, reliable sustainability reporting.
Regulatory pressure and market demand
The funding comes at a time of heightened regulatory scrutiny and uncertainty across Europe and North America. As sustainability regulations tighten – particularly with the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the recent Omnibus package – enterprises face an urgent need to streamline and elevate their ESG reporting.
Novisto’s platform is designed to address these challenges, enabling companies to efficiently collect, manage, approve and disclose sustainability data in a secure, centralised environment.
“Forward-thinking leaders are not waiting for full policy clarity to act on sustainability reporting and ESG compliance: they are acting now,” says Charles Assaf, CEO and Co-Founder of Novisto.
“The market demands it of a leading organisation, 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.”
Accelerating growth and expanding global reach
Since its Series B round in 2023, Novisto has nearly tripled its revenue, reflecting surging demand for robust ESG reporting solutions.
The new capital will be used to further innovate Novisto’s platform and accelerate its expansion in Europe, where streamlined regulation and progressive policy present significant market opportunities. The company plans to build a European team equal in size to its North American operations, signaling a strong commitment to supporting the continent’s largest and most influential firms.
Novisto’s client roster continues to grow, with The Emirates Group recently signing on to leverage the platform’s advanced reporting capabilities. Other blue-chip clients include France-headquartered healthcare giant Sanofi, which used Novisto to produce one of the first 15 CSRD-compliant reports released this year.
“Our partnership with Novisto has accelerated our journey towards our first CSRD-aligned disclosures and has established new standards for data governance and data quality,” said Laurent Lhopitalier, Head of ESG at Sanofi.
Novisto’s impact
Novisto’s influence extends beyond its direct clients. The company has joined SLB’s Digital Platform Partner Program, giving a broad network of customers access to its sustainability reporting tools.
Additionally, distribution partnerships with global giants like S&P Global further bolster Novisto’s reach and reputation as a vanguard in ESG reporting software.
Clients consistently report improved data quality, increased stakeholder confidence, and a 50% reduction in the time required to complete reporting assessments. As the administrative burden of sustainability reporting grows – often rivaling that of financial statement preparation – solutions like Novisto’s are becoming indispensable for enterprises aiming to stay ahead of compliance requirements and stakeholder expectations.
“Novisto is trusted by leading global enterprises, a testament to the strength of its best-in-class product,” explains Inovia Capital’s Principal, Mia Morisset.
“Since its Series B, we’ve had the opportunity to witness firsthand how Charles and his team have built a uniquely positioned solution for success. We look forward to continuing to support Novisto as it scales.”
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