S&P Global Leads $10 Million Financing for Impact Verification Startup BlueMark
Impact verification startup BlueMark announced that it has raised $10 million, in a Series A funding round led by S&P Global. The financing comes as BlueMark looks to expand its presence across industries and geographies, with a particular focus on Asia.
Founded in 2020, New York-based BlueMark was launched as a spinoff from women-owned impact investing consultancy Tideline, in order to help bring accountability and trust in the impact investment process. The firm provides independent impact verification services for investors and companies, including analyses of investors’ impact management practices, encompassing the policies, tools, and processes necessary to execute on their impact strategy, as well as on the completeness and reliability of their impact reporting.
To date, BlueMark has completed 125 verifications for investors, encompassing $206 billion of impact assets under management.
Christina Leijonhufvud, CEO of BlueMark, said:
“This latest funding round shows how strong the appetite is for greater transparency, accountability, and integrity in the impact and sustainable investing market. BlueMark’s distinctive approach to impact verification, benchmarking, and analytics continually raises the bar on best practice impact management and reporting among investment managers and also helps asset allocators identify and engage with managers driving impact.”
New investors joining the funding round in addition to S&P Global included Temasek Trust Capital family offices Blue Haven Initiative, Gunung Capital, and Tsao Family Office. Existing investors Ford Foundation and Radicle Impact also participated in the financing.
Dr. Richard Mattison, President of S&P Global Sustainable1, said:
“S&P Global is proud to be investing in BlueMark to support much-needed innovation in transparency for impact metrics. More than ever, companies and investors are seeking access to high quality data and advanced analytics relating to sustainability. This investment represents a step forward in enhancing market participants’ access to impact-focused insights.”