EcoVadis, a French provider of business sustainability ratings, has raised USD 500 million in an investment round led by Astorg and BeyondNetZero. The funding round was also supported by GIC and Princeville Capital.
EcoVadis will utilize the funds to scale up its geographical footprint, through strategic acquisitions in North American and Asian markets. The company also expects to improve its AI and machine learning capabilities.
Analyst QuickTake: The round brings EcoVadis’ total funding to USD 735 million. It remains the highest-funded carbon management software company. The round follows EcoVadis' USD 200 million private equity round in January 2020.