Net Purpose, a UK-based data provider for sustainable investors, has raised GBP 10 million (USD 11 million) in Series A funding led by EFT Partners. 

The funds raised will be utilized for team expansion and the addition of new features for its platform offering. In addition, the company plans to shift its core focus from ESG ratings towards a more data-driven measure of social and environmental performance. 

The funding round was supported by new investors M-Tech Capital and Exceptional Ventures. Existing investors Jim O’Neill, former Chair of Goldman Sachs Asset Management, Kevin Gould, Co-Founder IHS Markit, the Louis Family, Illuminate Financial, and Revent also participated in the round. 

Founded in 2019, Net Purpose is a data-driven platform leveraging AI and human intelligence for sustainable investing. The company focuses on the social and environmental performance of organizations and their investment portfolios, managing nearly USD 50 billion in sustainable funds. The company provides data across a range of sustainability themes including climate, water, waste, gender, financial inclusion, healthcare, and other social themes, and covers companies and all major investment indices.