NEW YORK & LONDON & PARIS, June 14, 2022-(BUSINESS WIRE)-EcoVadis, the world leader in evaluating and improving the CSR performance of companies, today announced a $ 500 million fundraiser, and thus became a new French unicorn .
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This fundraiser is the largest ever in the CSR market and reflects the growing importance of the latter for business performance. The round – which brings EcoVadis ’total capital proceeds to more than $ 725 million – was led by European private equity firm Astorg and General Atlantic’s climate investment firm BeyondNetZero, with the participation of Singapore -based GIC Private Limited and Princeville Capital. As part of the raise, EcoVadis was advised, for the third time, by GP Bullhound.
Previous rounds of funding have included investments from CVC Growth Partners II in January 2020 and Partech in 2016, as well as equity stake from Bain & Company in February 2020. CVC Growth Partners II remains the largest institutional shareholder of company.
In this new round of funding, EcoVadis will fund its international development, strengthen artificial intelligence and machine learning tools, make strategic acquisitions and implement its vision-driven company vision.
Comprising its existing partnerships such as Microsoft, SAP, Celonis, Coupa, Taulia and 40 others, this investment will allow it to increase its impact and positively influence decision makers around the world.
More than 95,000 companies in 200 industry categories and 175 countries rely on EcoVadis ’supplier analytics and collaborative platforms to assess and improve the CSR performance of their supply chains. Today, EcoVadis is used by a growing number of companies, including their carbon management, private equity, CSR-related lending, supply chain finance, third-party risk and stability and more.
The new unicorn continues to experience impressive global growth. In the past 12 months, its revenue has increased by 50% and its global workforce has reached 1,300 employees.
Frédéric Trinel and Pierre François Thaler, co-founders and co-CEOs of EcoVadis:
“This investment confirms the relevance of our model of quality assurance and sustainability of global supply chains, despite pandemics, geopolitical or financial problems. More than ever, we will continue to support companies – including SMEs and private companies – at every stage of their CSR journey to bring them best practices and ensure size impact.“.
Rhea Hamilton, CEO of BeyondNetZero:
“We invest in companies with the potential to tackle climate change on a large scale. We believe that EcoVadis has all the assets to have a global impact and make a significant contribution to the transition to net zero. The company has demonstrated the strength of its business model, through innovative technology and bold vision, to drive CSR -focused changes in the supply chains of all industries. We are proud to be part of this new phase of growth and partner with its leadership team to accelerate its global expansion and impact on climate.“
Benoit Ficheur, Astorg Partner: “We have been following EcoVadis for many years and we admire its leadership and rapid growth around the world. Astorg was the first investment fund to become an EcoVadis client, using its services to assess and measure the CSR performance of our portfolio companies and to raise maintenance -related debt. This partnership has had a very positive impact on our portfolio, helping to make Astorg one of the leaders in terms of CSR in the world of private equity. As investors, we want to support the company in its ambition to be a benchmark in the private equity market where we see a significant growth opportunity. “.
The closing of the transaction is expected in the second quarter of 2022, after obtaining regulatory approvals.
EcoVadis runs a global CSR performance analysis and pooling platform used by more than 95,000 companies of all sizes in 175 countries. Private or public companies, financial institutions and other organizations around the world rely on the EcoVadis platform to work with their partners to improve supply chain practices environmentally, socially and ethically. Supported by a powerful technological platform, the EcoVadis rating has been verified by a team of international experts and adapted to more than 200 industry categories based on 21 indicators that meet international standards from the avoiding forced labor up to CO2 emissions. AXA, Auchan, Johnson & Johnson, L’Oréal, Michelin, Orange, Sanofi and Unilever are among the companies working with EcoVadis to promote stability, sustainable growth and positive impact. For more information, visit ecovadis.com, Twitter or LinkedIn.
Astorg is a pan-European private equity fund with more than € 17 billion in assets under management. Astorg seeks to partner with entrepreneurs and management teams to acquire leading global companies headquartered in Western Europe and North America, giving them the strategic advice, management and capital they need to achieve their goals in growth. Benefiting from a unique business culture, a long-term shareholder perspective and a strong decision-making body, Astorg has acquired valuable industry expertise in healthcare, software, technology, business-to-business professional services and technology-based industrial business. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg. For more information on Astorg: www.astorg.com. Follow Astorg on LinkedIn.
BeyondNetZero is the climate investment arm of General Atlantic, one of the world’s leading venture capital firms. BeyondNetZero invests in growing companies with innovative climate solutions that can meet and exceed net zero emissions goals, with a focus on decarbonization, energy efficiency, resource conservation, and emissions management. This venture combines General Atlantic’s experience in growth capital and its global network with a team of climate-savvy investors, advisors and executives who bring decades of experience in solving climate-related problems and creating pioneering growth companies. For more information on BeyondNetZero, please visit https://beyond-net-zero.com.
About General Atlantic
General Atlantic is one of the world’s leading capital investment growth companies, with more than four decades of experience providing capital and strategic support to more than 445 growth companies in its history. Founded in 1980 with the goal of partnering with visionary entrepreneurs and creating lasting impact, the company combines a collaborative global approach, industry expertise, a long-term investment horizon and a deep understanding of growth drivers . to partner with talented entrepreneurs and leadership teams to grow innovative businesses around the world. General Atlantic currently manages over $ 84 billion in assets across all products as of December 31, 2021, and has over 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information about General Atlantic, please visit www.generalatlantic.com.
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