$27M Series C fuels expansion: Novisto will enhance its ESG platform and double down on European growth, building a regional team to match its North American operations.
Revenue nearly tripled since Series B: The company’s accelerated growth signals rising demand for streamlined, high-quality sustainability reporting.
Strategic partnerships drive adoption: Global leaders like Sanofi and The Emirates Group are leveraging Novisto to meet complex ESG disclosure mandates.
Novisto, a Canada-based ESG reporting software provider, has secured $27 million in Series C funding to scale its operations across Europe and further enhance its sustainability platform. The round was led by Inovia Capital, with participation from all existing investors: White Star Capital, SCOR Ventures, and Sagard. The company has now raised over $55 million in total.
CEO and Co-founder Charles Assaf said:
“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 of a leading organisation, and it encourages transparent, accurate and decision-grade sustainability information.”
Founded in 2019, Novisto’s platform enables enterprises to collect, manage, approve, disclose, and defend ESG data — supporting rapid adaptation to evolving regulations like the EU’s Corporate Sustainability Reporting Directive (CSRD) and Taxonomy. With the latest funding, Novisto plans to build a European team equal in size to its North American base.
This strategic expansion is driven by surging demand from companies navigating complex regulatory landscapes. According to the company, revenue has nearly tripled since its Series B in 2023, underscoring the growing urgency for ESG tools that reduce the administrative burden and improve reporting quality.
“We see a huge and growing global opportunity in front of us,” Assaf added, “underpinned by our current momentum and spearheaded by senior leaders at global companies who are committed to making their businesses more resilient and sustainable.”
Notably, Novisto supported France-based Sanofi in delivering one of the first 15 CSRD-compliant reports earlier this year.
Laurent Lhopitalier, Head of ESG at Sanofi, said:
“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.”
Other global clients include The Emirates Group, and partners like S&P Global and SLB, which have integrated Novisto’s tools into their ESG ecosystems to support a broader network of reporting stakeholders.
Client feedback points to significant operational benefits, including improved data quality, greater stakeholder confidence, and up to a 50% reduction in time required for ESG assessments.
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Inovia Capital, which led the round, sees Novisto as a market-defining player.
Mia Morisset, Principal at Inovia, said:
“Novisto is trusted by leading global enterprises, a testament to the strength of its best-in-class product. 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.”
The funding comes as Europe pushes ahead with regulatory consolidation. The EU’s new Omnibus proposals aim to simplify and unify sustainability frameworks while maintaining a strong compliance focus on the largest companies—those with the greatest societal and environmental impact.
As ESG regulation intensifies, Novisto’s role as a data-driven enabler of decision-grade reporting positions it to lead the market in helping companies stay compliant, transparent, and competitive.
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