Environmental software solutions provider AMCS announced today the acquisition of ESG data and reporting platform provider Figbytes.
Launched in 2014 by co-founders Sonam Devgan and Ted Dhillon, Ottawa-based FigBytes helps organizations to plan, track and report ESG on goals across areas ranging from carbon accounting and climate action, to water impacts, and supply chain activities.
Details of the transaction were not disclosed. In December 2022, FigBytes announced that it had secured $14.5 million in financing, including $10 million in funding from existing investor Quantum Innovation Fund, and a $4.5 million debt facility from Silicon Valley Bank.
Ted Dhillon, CEO and Co-Founder of FigBytes said:
“The combination of FigBytes’ award-winning Sustainability Platform and the AMCS suite of Environmental Software Solutions provides organizations with a unique, compelling offering and one of the clearest digital pathways to a more sustainable future while enabling them to comply with ESG regulations around the world. I’m incredibly confident that our alignment with AMCS will unlock tremendous opportunities for organizations to make an even greater positive change for people and the planet.”
The transaction marks the second strategic move in the ESG space for AMCS, following the company’s acquisition of Quentic, a European SaaS for ESG and Environmental Health, Safety and Quality last year. According to AMCS, FigBytes’ market presence in North America will complement its established presence in Europe, while also enabling the company to better serve its clients globally with SaaS solutions that help them reach their sustainability goals and manage increasingly complex regulatory reporting requirements.
Jimmy Martin, CEO of AMCS said:
“This acquisition underscores our mission to provide integrated, secure, and future-proof environmental software solutions that help clients across the globe accelerate their growth and sustainability.”