Novisto Raises $27M to Expand ESG Platform as EU Regulations Evolve

Canada-founded sustainability software firm Novisto has raised 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 round brings Novisto’s total funding to over US$55 million.

“This raise signals strong market confidence in our vision and momentum,” said Charles Assaf, Novisto’s CEO and co-founder. “Forward-thinking leaders are not waiting for full policy clarity to act on sustainability reporting—they are acting now.”

Novisto plans to use the funding to scale its European operations, where evolving ESG regulations such as the Corporate Sustainability Reporting Directive (CSRD) are driving demand. “We aim to build a European team equal in size to our North American counterpart,” said Assaf.

Since its last funding round in 2023, Novisto’s revenue has nearly tripled. Its client base includes The Emirates Group and Sanofi, the latter of which released one of the first 15 CSRD-compliant reports using Novisto’s platform.

“Our partnership with Novisto has accelerated our journey towards our first CSRD-aligned disclosures,” said Laurent Lhopitalier, Head of ESG at Sanofi. “It has established new standards for data governance and data quality.”

Novisto has also joined SLB’s Digital Platform Partner Program and collaborates with S&P Global to distribute its platform more widely.

“In Novisto, we saw a uniquely positioned solution for success,” said Mia Morisset, Principal at Inovia Capital. “It is trusted by global enterprises—a testament to the strength of its best-in-class product.”

As the EU’s Omnibus Proposal aims to streamline sustainability rules, Novisto is doubling down on its mission to simplify ESG compliance for global organizations.