France-based EcoVadis provides sustainability ratings for businesses and supply chains. EcoVadis follows a SaaS model with one-year subscriptions for  business ratings ranging from EUR 725-EUR 5,145 (USD 874-USD 6,202) for a medium-sized company with 100-999 employees.

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.  EcoVadis acquired ecotrek , a German-based data mining company, to scale up its ESG driven-AI capabilities in July 2022.

As of March 2021, EcoVadis has assessed more than 75,000 companies and trade partners across more than 160 countries. Procurement teams at 600 companies, including more than 450 multinationals, use EcoVadis ratings to make purchasing decisions. Johnson & Johnson, Nestle, Louis Vuitton, and L’Oréal are some of EcoVadis’s high-profile clients. EcoVadis partnered with Certa , a third-party risk management platform and Taulia , a working capital management firm to improve transparency across supply chains.

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 June 2022, EcoVadis is the highest funded business-to-business carbon management software startup.