Novistoa Montreal, Canada-based ESG data management software company, raised USD$20M in Series B funding.
The round was led by Inovia Capital with participation from Portage Ventures and SCOR Ventures, as well as existing investors White Star Capital and Diagram Ventures.
The company intends to use the funds to scale its product development, grow its existing customer base, and expand the team across the globe.
Founded in 2019 and led by Charles Assaf, Novisto is building the ERP for ESG, enabling companies to leverage a data-centric approach. The company supports global companies — including Asana, Manulife, and Sanofi, among others — to improve their ESG data collection and reporting, in order to manage key sustainability risks and opportunities and drive long-term value creation.
The company has over 100 employees located in North America and Europe and is headquartered in Montreal, Canada.
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