7 things to know about EcoVadis, the 27th unicorn of French Tech

After a poor season, French Tech has regained momentum thanks to EcoVadis, a nugget that specializes in CSR ratings of companies. He announced XXL’s $ 500 million operation has been raised, allowing him to become the 27th tricolor unicorn, a company worth more than a billion dollars.

Here’s what you need to know about this new French champion, who very quickly established himself around the world and became a leader in his sector.

1. He rates the supply chain of companies

EcoVadis offers companies a tool for evaluating and rating (from 0 to 100) the CSR of their suppliers according to criteria based on 17 sustainable development goals set by the UN. This software, launched in “SaaS” mode (under subscription), also provides action plans to improve the CSR performance of commercial partners of large companies.

An idea that was born in 2007, at a time when CSR topics were still far from the concerns of companies. “We are ahead in the market, more by looking at what suppliers are doing,” said Frédéric Trinel, the company’s co-founder.

2. A “start-up” made in 2007

The company could be a seed of tech contention around the definition of unicorns, or even of start-ups. Some have argued that a unicorn has gained status thanks to its hypergrowth, therefore has a relatively short period of time, that is to say ten years. The problem? EcoVadis was created over fifteen years ago. The company joins other unicorns whose status is, for lack of definition, subject to debate, such as Veepee (2001) or Ivalua (2000).

3. He is a Centaur

Unicorn or not, the company is on its way to becoming a “centaur,” a software startup that tops the $ 100 million annual recurring revenue (ARR) mark. According to the Bessemer Venture Partners report, there are only 150 unicorns in the world, compared to more than a thousand unicorns.

In France, marketplace operator Mirakl was one of the first start-ups to achieve this status. The French-American Dataiku announced in March generated $ 150 million in ARR.

4. He was self -funded for nine years

After being self-financed for nine years, the company raised a million euros from business angels, then 30 million euros in 2016 with Partech funding. An A series that was high for the time, and more for a so -called impact company. “The founders managed their money efficiently and were able to raise only when needed,” said Omri Benayoun, partner at Partech.

The year 2020 is synonymous with a huge acceleration for EcoVadis, with raising $ 200 million (CVC Partners) intended to strengthen the company in the United States and Asia. In 2022, unicorn now records 50% growth and has raised $ 500 million with Astorg and BeyondNetZero (General Atlantic).

5. More than 70 nationalities

From its inception, EcoVadis was thought to be global. “The language used is always English”, explains Frédéric Trinel, who has twenty -seven years of experience abroad.

Its teams include more than 70 nationalities, with 14 offices established around the world, the latter established in Singapore. “Every time, we will look for recruits from the markets in which we thrive,” the entrepreneur added. The Paris headquarters has approximately forty nationalities. In total, the company has 1,300 employees.

6. One of the employers created four more companies

A graduate in international trade (ICAD Paris), Frédéric Trinel is a serial entrepreneur behind four companies still in business in the fields of software and services, including Mr. Ted, recruitment management software. Its co-founder Pierre-François Thaler founded B2Build.com, a BtoB marketplace for the European construction industry.

The first, aged 55, is primarily focused on product and financial functions, the second, 51, on the commercial side and the search for new customers.

7. This is the 4th “effect” unicorn in French Tech

The number of unicorns is seen growing, the number of champions in impact, more slowly. Three other French start-ups could be considered to have an impact: Back Market, Vestiaire Collective or BlaBlaCar. A Mouvement impact France study published at the end of May with Boston Consulting Group (BCG) showed that only 19% of start-ups with an impact succeeded in raising funds from capital-intensive companies. , compared to 46% of so-called “start-ups”. classics ”.

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