Montreal-based sustainability reporting software company Novisto has secured US$27 million in a Series C funding round led by Inovia Capital, with participation from existing investors White Star Capital, SCOR Ventures, and Sagard. The latest round brings the company’s total funding to over $55 million.
The investment comes amid growing demand for robust ESG reporting solutions in light of evolving regulatory requirements, particularly in Europe. Novisto plans to use the funds to enhance its platform capabilities and expand its European operations, with the goal of building a team in the region comparable in size to its North American counterpart.
Novisto reports nearly tripled revenue since its previous funding round in 2023. Recent client additions include Emirates Group and France-based pharmaceutical company Sanofi, which used Novisto’s software to produce one of the first Corporate Sustainability Reporting Directive (CSRD)-compliant reports earlier this year.
The company has also joined SLB’s Digital Platform Partner Program and continues its partnership with S&P Global, providing ESG reporting solutions to a broader network.
With regulatory pressures mounting—particularly through the EU’s evolving ESG framework—Novisto positions its platform as a tool to streamline data governance and reduce the reporting burden for companies. Clients have reported significant time savings and improved data quality in their reporting processes.
