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New Esg Technology Platform Novata Closes $21 Million Series A Funding Round

Nov 09, 2021•almost 4 years ago

Amount Raised

$21 Million

Round Type

series a

Description

Novata, an innovative new technology platform and public benefit corporation that provides the private markets with a cutting-edge Environmental, Social and Corporate Governance (ESG) solution, has announced a Series A investment of $21 million. The investment represents one of the largest initial funding rounds for a public benefit corporation. Principal investors include members of the one-of-a-kind consortium that collaborated to launch Novata in October 2021, including the Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network. This significant funding enables Novata to meet the private markets' critical and immediate need for an independent, unbiased and flexible open architecture platform to more consistently report on relevant ESG data.

Company Information

Company

Novata

About

Novata is a public benefit corporation created to help private equity firms and private companies navigate the ESG landscape by providing relevant reporting metrics, a contributory database to store information, and tools for analysis and reporting to key stakeholders, including limited partners and regulators. Founded to empower the private markets in achieving a more sustainable and inclusive form of capitalism, Novata’s aim is to help the private markets avoid fragmentation of ESG standards. Novata was formed in partnership with the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network—with additional funding provided by its co-founders and independent chair—and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech