Corporate sustainability management software company Novisto announced today the completion of a Series A funding round, raising $8 million. The round was led by White Star Capital with participation from Diagram Ventures.
Charles Assaf, Co-founder and CEO of Novisto:
“Corporate ESG reporting and management is now essential for investors and other important stakeholders. This Series A investment and partnership with White Star will enable us to unlock the next level of our vision to become the world’s leading software solution for integrated ESG data, management, and reporting.”
The company also announced that it has added airline JetBlue to its roster of corporate customer base, which also includes CAE and TMX Group.
Sara Bogdan, Director, Head of Sustainability and ESG at JetBlue Airways, said:
“At JetBlue, ESG is a core part of our business strategy. We look forward to utilizing the Novisto software to help us maximize our ESG performance and generate long-term value within the travel industry. We are focused on a lower-carbon future and achieving net-zero carbon emissions for our operations by 2040 and feel Novisto will help us plan, measure, and ultimately achieve our ambitious goals in this area.”
Founded in 2019 by Assaf, Edouard Clement, and Marian Borca, Novisto is an end-to-end enterprise software focused on corporate sustainability management, aiming to enable companies to leverage the power of automation to collect and consolidate their sustainability data, improve their reporting, and gain insights for better decision making and value creation. According to Novisto, the new financing will enable the company to triple its engineering and product teams as it scales its product roadmap, and to expand beyond North America into the European market.
Jean-François Marcoux, Co-Founder and Managing Partner at White Star Capital, said:
“Increasingly, investors and key stakeholders are demanding that organizations report on ESG and demonstrate resulting business value. Novisto is a category-defining company that is addressing the challenge and differentiating itself through decades of combined experience in both corporate sustainability, product development, and technology.”