Novata, a platform and public benefit corporation that provides private markets with an ESG solution, has scored $30mn in a Series B raise.
- The round was led by Hamilton Lane and saw participation from the Ford Foundation and S&P Global. In addition, Microsoft joined the investor consortium through its Climate Innovation Fund.
- Novata claims its solution takes a much-needed systems-wide approach in the private markets, bringing together the non-profit and for-profit sectors to help drive impact toward sustainable and inclusive capitalism.
- The company launched its unique benchmarking capabilities in November 2022, enabling clients to compare key non-financial data against public and private market industry averages and identify opportunities for improvement.
What does this mean?
Novata CEO and co-founder Alex Friedman said, “We are grateful to the broad range of leading investors supporting Novata, including financial institutions, large technology companies, non-profit organizations and private equity firms, which underscores how major facets of global economic activity are coming together to address our most critical common challenges.