France’s EcoVadis has raised €30 million from Partech Ventures to boost its R&D and global partnerships.
The company builds a collaborative platform providing sustainability ratings for supply chains. It says it is being used by more than 150 of the world’s largest supply chains.
Partech’s funding marks the company’s first capital investment since the firm was founded in 2007 and will be used to invest in more R&D to improve its technology and forge relationships with startups. Partech’s presence in the US will also be of benefit, explained Frederic Trinel, co-CEO of EcoVadis.
“This pivotal investment will empower our team to accelerate R&D and enhance our proprietary technology with the latest innovations in machine learning and natural language processing while broadening our expertise in CSR analysis to foster environmental, social and ethical performance improvement at a global scale,” he said.
“Companies rely on EcoVadis to ensure resilience of supply chains but also drive change in sustainability, social and human rights practices”, said co-CEO of EcoVadis Pierre-Francois Thaler. “We now want to step up the impact of our collaborative platform to drive more improvements in the future.”
Prior to this investment, EcoVadis had mostly grown organically. It employs 320 in offices in France, US, UK, Mauritius, and Hong Kong.
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