Novisto
Novisto, founded in 2019 and headquartered in Montreal, Canada, provides sustainability management software that helps enterprises collect, manage, and report ESG data.
Profile
Novisto sells software that automates the collection, management, and reporting of environmental, social, and governance (ESG) data for large companies.
Novisto, founded in 2019 and headquartered in Montreal, Canada, provides sustainability management software that helps enterprises collect, manage, and report ESG data. The company has raised over $55 million to date, including a $27 million Series C round in May 2025 led by Inovia Capital, with participation from White Star Capital, SCOR Ventures, and Sagard. Revenue has nearly tripled since its Series B in 2023.
The platform serves a roster of blue-chip clients including Moderna, Bell, SLB, Circle K, Emirates, La-Z-Boy, McKinsey & Company, Morningstar, Velcro, Sanofi, Sun Life, WSP, Silicon Labs, Crocs, and Deutsche Bank. Novisto is a SASB licensee and a CDP Accredited Solutions Provider. The company plans to expand its team in Europe to match its North American headcount, capitalizing on regulatory tailwinds from the EU's CSRD and Omnibus proposals.
Notable recent wins include The Emirates Group as a client and distribution partnerships with S&P Global and SLB. Sanofi used Novisto to produce one of the first 15 CSRD-compliant reports in early 2025. Clients report a 50% reduction in time to complete reporting assessments.
The company's platform automates data collection, validation, and disclosure mapping, supporting frameworks like SASB, IFRS S1/S2, and CSRD. Novisto competes with other ESG software vendors like Workiva, Persefoni, and Greenstone, but differentiates through its focus on enterprise-grade data governance and audit trails. The company's growth reflects increasing regulatory pressure on corporations to produce auditable sustainability disclosures.
Who buys this
- Large publicly traded corporations needing to comply with ESG disclosure regulations (e.g., CSRD, SEC climate rules)
- Multinational enterprises with complex supply chains requiring standardized sustainability data collection
- Companies seeking to improve investor confidence through auditable SASB or IFRS-aligned reports
- Organizations aiming to reduce manual effort in annual sustainability reporting cycles
Publicly disclosed clients
- Moderna
- Bell (BCE Inc.)
- SLB (Schlumberger)
- Circle K
- Emirates (The Emirates Group)
- La-Z-Boy
- McKinsey & Company
- Morningstar
- Velcro
- Sanofi
- Sun Life
- WSP Global
- Silicon Labs
- Crocs
- Deutsche Bank
Strengths and what to watch
Strengths
- Revenue nearly tripled since Series B in 2023, indicating strong product-market fit and customer retention.
- Deep integration with major reporting frameworks (SASB, CDP, CSRD, IFRS) reduces compliance burden for clients.
- Blue-chip client roster including Fortune 500 names like Sanofi, Deutsche Bank, and Moderna, providing credibility and referenceability.
Watch for
- Dependence on regulatory tailwinds: a rollback of ESG disclosure mandates (e.g., in the US) could slow customer acquisition.
- Competitive market: rivals like Workiva, Persefoni, and Greenstone have similar offerings and deeper pockets.
- International expansion risk: building a European team from scratch while maintaining North American operations could strain resources.
Key Information
- Industry
- ESG
- Founded
- 2019
- Headquarters
- Montreal, Canada
Frequently Asked Questions
What does Novisto do?
Novisto sells software that automates the collection, management, and reporting of environmental, social, and governance (ESG) data for large companies. The platform supports frameworks like SASB, IFRS S1/S2, and CSRD to help enterprises produce auditable sustainability disclosures.
Who are Novisto's main competitors?
Novisto competes with other ESG software vendors such as Workiva, Persefoni, and Greenstone. It differentiates through its focus on enterprise-grade data governance and audit trails, which helps large companies meet strict regulatory requirements for auditable sustainability reports.
How much funding has Novisto raised?
Novisto has raised over $55 million to date, including a $27 million Series C round in May 2025 led by Inovia Capital. Other investors include White Star Capital, SCOR Ventures, and Sagard. Revenue has nearly tripled since the company's Series B round in 2023.
Which companies use Novisto for ESG reporting?
Novisto serves a roster of blue-chip clients including Moderna, Bell, SLB, Circle K, Emirates, La-Z-Boy, McKinsey & Company, Morningstar, Velcro, Sanofi, Sun Life, WSP, Silicon Labs, Crocs, and Deutsche Bank. Sanofi used Novisto to produce one of the first 15 CSRD-compliant reports in early 2025.
What reporting frameworks does Novisto support?
Novisto supports major ESG reporting frameworks including SASB, IFRS S1/S2, and CSRD. The company is a SASB licensee and a CDP Accredited Solutions Provider. Its platform automates data collection, validation, and disclosure mapping to reduce compliance burden for enterprises.
How does Novisto help with CSRD compliance?
Novisto helps companies comply with the EU's CSRD by automating data collection, validation, and disclosure mapping. Clients report a 50% reduction in time to complete reporting assessments. Sanofi used Novisto to produce one of the first 15 CSRD-compliant reports in early 2025.
Sources
- novisto.com — Company description, client logos, product positioning
- novisto.com — Series C funding amount ($27M), lead investor (Inovia Capital), revenue tripling since Series B, client wins (Emirates, Sanofi), distribution partners (S&P Global, SLB)
- novisto.com — SASB licensee status, SASB reporting software features, client logos
- novisto.com — Series A funding ($8M), total funding to date ($9.5M at that time), early clients (CAE, JetBlue, TMX Group), SASB and CDP partnerships