EcoVadis

France-based EcoVadis provides sustainability ratings for businesses and supply chains. EcoVadis follows a SaaS model with one and three-year subscriptions for business ratings. As of February 2024, the pricing ranges start at EUR 409 (USD 440) for small companies, EUR 1049 (USD 1129) for medium-sized and EUR 1749 (USD 1993) for large companies.

EcoVadis assesses a company’s policies, actions, and results, as well as inputs from third-party professionals and external shareholders before giving a rating. Ratings are based on four broad themes of environment, labor and human rights, ethics, and sustainable procurement. In July 2022, EcoVadis acquired ecotrek , a German-based data mining company, to scale up its ESG-driven AI capabilities. In September 2023, EcoVadis added a new feature named EcoVadis Product Carbon Footprint (PCF) Data Exchange to its Carbon Action Module (CAM) to report on the precise GHG emissions of specific products.

Key customers and partnerships

As of February 2024, EcoVadis has assessed more than 125,000 companies and trade partners across 200+ industries and 180+ countries. Johnson & Johnson, Nestle, Louis Vuitton, L’Oréal, Schneider Electric, Michelin and BASF are some of EcoVadis’s high-profile clients. In January 2022, EcoVadis partnered with Certa , a third-party risk management platform and Taulia , a working capital management firm in May 2022, to improve transparency across supply chains. In July 2022, the company also partnered with SAP, a provider of business software solutions, to integrate sustainability ratings into the latter’s network. In July 2023, the company partnered with Accenture , a professional services provider, to conduct the 2023 Sustainable Procurement Barometer.

Funding and financials

EcoVadis’s most recent funding was in June 2022 , when it raised USD 500 million from Astorg and BeyondNetZero. The transaction is considered the largest in the industry, and EcoVadis expects to utilize the funds to scale globally. Previously in January 2020, the company raised USD 200 million from CVC Capital Partners. As of February 2024, EcoVadis is the highest-funded B2B CMS startup.