EcoVadis raises $500 million to measure corporate CSR performance

French start-up EcoVadis achieves unicorn status with its $500 million fundraising. The one that develops a CSR rating platform announced this fundraising on June 14, 2022. The round table was led by the European fund Astorg and BeyondNetZero (General Atlantic) with the participation of GIC Private Limited and Princeville Capital. Closing of the transaction is expected in the second quarter of 2022, after obtaining regulatory approvals.

The transaction is scheduled for the second quarter of 2022, after obtaining regulatory approvals. The amount raised shows the interest aroused by CSR topics and the improvement of practices in this area. The French nugget has raised a total of 725 million dollars since its creation.

Pooling of CSR performance

“This investment confirms the relevance of our model of ensuring the quality and sustainability of global supply chains, despite pandemics, geopolitical or financial difficulties”, welcome the co-founders and co-CEOs Frédéric Trinel and Pierre François Thaler. The start-up, which was launched in 2007 in Paris, is developing a platform for evaluating and pooling CSR performance, in particular used to evaluate its supply chain.

The evaluation method developed by EcoVadis is the mainstay of the production of ratings and evaluation sheets. “It makes it possible to assess the quality of the integration of CSR into the management system of a company through its policies, the actions implemented and the results”, explains EcoVadis. This rating is then verified by a team of experts and shared for the benefit of all. As a result, the unicorn promises the improvement of environmental, social and ethical practices in supply chains.

95,000 corporate clients

The unicorn ensures that its platform is suitable for more than 200 industrial categories based on 21 international indicators ranging from the prevention of forced labor to CO2 emissions. Carbon emissions management, private equity, CSR related loans, supply chain finance, third party risk and resilience, etc. the platform designed by EcoVadis allows companies to assess many topics under the prism of CSR.

Private companies, communities, public institutes and financial institutions can rely on its platform. With nearly 1,300 employees, EcoVadis boasts more than 95,000 client companies around the world such as AXA, Auchan, L’Oréal, Sanofi and Unilever. Thanks to this fundraising, EcoVadis intends to continue developing its artificial intelligence and machine learning tools. The nugget adds that it wants to accelerate its internationalization and make strategic acquisitions.

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EcoVadis raises $500 million to measure corporate CSR performance

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