Total amount raised
$735.8 Millions
Latest funding date
11/1/2022
Location
EcoVadis has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform offers comprehensive solutions for assessing and improving the sustainability performance of global supply chains.
Continue reading to delve into the details of EcoVadis' funding journey and the key investors supporting this innovative sustainability intelligence platform.
What Is EcoVadis?
EcoVadis, founded in April 2007 by Frederic Trinel and Pierre Francois Thaler, is headquartered in Paris, France. The company specializes in providing a collaborative platform for assessing the environmental and social performance of suppliers.
With a workforce ranging between 1001-5000 employees, EcoVadis offers various products and services, including the EcoVadis Sustainability Intelligence Suite and Carbon Action Manager. Their solutions help businesses manage ESG risk and drive sustainability performance improvement across global supply chains.
EcoVadis has established itself as a leader in sustainability intelligence, embedding sustainability into every business decision and supporting companies in their sustainability journeys.
How Much Funding Has EcoVadis Raised?
- Angel Round
- Amount Raised: $1.4M
- Date: October 2007
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop its initial platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial market reach.
- Debt Financing
- Amount Raised: $2.5M
- Date: March 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and early-stage growth.
- Venture Round
- Amount Raised: €30M
- Date: December 2016
- Lead Investors: Partech
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving the platform.
- Series B
- Amount Raised: $200M
- Date: January 2020
- Lead Investors: CVC Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and invest in technology enhancements.
- Series C
- Amount Raised: $500M
- Date: June 2022
- Lead Investors: Astorg, Beyond Net Zero
- Valuation at Round: Surpassing €1 billion
- Motivation Behind the Round: To buy out Partech's stake, inject equity into development, and consolidate market share internationally.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $703.9M
Current Valuation: Surpassing €1 billion
Key Investors
- Astorg
- Details: Astorg is a European private equity firm with over €17 billion of assets under management. They focus on acquiring market-leading global companies headquartered in Europe or the US.
- Investment Focus Areas: Healthcare, software, technology, business services, technology-based industrial companies.
- Notable Investments: IQ-EQ, a global investor services group.
- BeyondNetZero (General Atlantic’s Climate Investing Venture)
- Details: BeyondNetZero is the climate investing venture of General Atlantic, a leading global growth equity firm. They focus on growth companies delivering innovative climate solutions.
- Investment Focus Areas: Decarbonization, energy efficiency, resource conservation, emissions management.
- Notable Investments: Sun King, a provider of solar energy products.
- GIC
- Details: GIC is the sovereign wealth fund of Singapore, investing across a wide range of asset classes globally. They aim to preserve and enhance Singapore's reserves.
- Investment Focus Areas: Technology, sustainability, private equity, real estate, infrastructure.
- Notable Investments: Alibaba, UBS.
- Princeville Capital’s Climate Technology Fund
- Details: Princeville Capital is a California-based investment firm focused on technology-driven companies. Their Climate Technology Fund targets investments that address climate change.
- Investment Focus Areas: Climate technology.
- Notable Investments: Doctor On Demand, a telemedicine provider.
- CVC Growth Partners
- Details: CVC Growth Partners is an existing major shareholder in EcoVadis. They focus on high-growth companies, particularly in the technology and services sectors.
- Investment Focus Areas: Technology, services.
- Notable Investments: Avast, a cybersecurity software company.
What's Next for EcoVadis?
EcoVadis stands at the cusp of significant growth, driven by the increasing global emphasis on sustainability. With a recent $500 million investment, the company is poised to expand its market presence, particularly in North America, Europe, and Asia-Pacific. Enhancing their AI and machine learning capabilities will further solidify their position as a leader in ESG ratings.
Future fundraising opportunities seem promising, given the substantial financial backing and the company's robust growth trajectory. However, EcoVadis will need to navigate challenges such as rising competition from major players like Amazon and Salesforce, and the complexities of integrating new technologies and acquisitions. Maintaining the accuracy and reliability of their ESG ratings will be crucial as they scale operations globally.
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