09 March 2023

ESG platform Novata raises $30mn in Series B

Written By FinTech Alliance

ESG platform Novata raises $30mn in Series B

Novata, a platform and public benefit corporation that provides private markets with an ESG solution, has scored $30mn in a Series B raise.

IN BREIF:

- 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.

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