EcoVadis gets $200 million boost for its sustainability ratings and supply chain technology
01/09/2020
EcoVadis, a provider of ratings on sustainability, CSR and ESG, today announced a $200 million investment from CVC Growth Partners that puts three CVC executives on the EcoVadis board and sets the company up to expand.
“EcoVadis plans to leverage the funding to expand internationally, break into new countries and further invest in its technology platform, sustainability intelligence solutions and network of rated companies,” according to its press release.
It rates companies’ supply chains on sustainability, corporate social responsibility (CSR) and other issues related to ESG (environmental, social and governance). EcoVadis said that more than 450 enterprises rely on its supplier ratings and technology — and that it assesses more than 60,000 companies across 155 countries.
“Momentum towards a more environmentally and societally focused economy has been building for years. Today’s executives recognize the power of sustainability to protect their brands, increase valuation, inform investment strategies and positively impact the world,” Pierre-Francois Thaler, co-CEO and co-founder of EcoVadis, said in the press release. “The supply chain is the single greatest lever for creating real change and making an impact. But when left unmanaged, it becomes a breeding ground for hidden risk — including forced labor, environmental waste, corruption, security issues and more. This investment from CVC Growth Partners is a testament to the critical role that ESG and sustainability factors play in today’s market.”
Spend Matters has covered EcoVadis for years as it has built it intelligence technology and networks to study and monitor supply chains. It is part intelligence network (for CSR data), part SaaS/cloud provider (in support of CSR data gathering and intelligence), and part enablement partner to companies for data collection. See our coverage below.
The deal is expected to close this quarter once the regulatory process is done, the press release said.
“Environmental, social and governance issues are critical to business success, economic growth and societal improvement,” Sebastian Kuenne, managing director who leads CVC Growth Partners in Europe, said in the press release. “At the core of CVC’s approach to building better businesses is always a detailed sustainable value creation plan that is anchored in fundamental ESG principles. EcoVadis’ unique assessment platform and expansive supplier network are proven to improve sustainability outcomes and accelerate business performance. We are proud to partner with a team that provides meaningful value not only to their customers but also to broader society and our environment and are excited to support EcoVadis with the full weight of the CVC network.”
John Clark, managing partner of CVC Growth Partners, Aaron Dupuis, senior managing director at CVC, and Kuenne will join EcoVadis’ board of directors.
Spend Matters’ PRO analysis:
After EcoVadis’ Sustain 2019: Company Update, Solution Overview and Technology Enhancements (Part 1) [PRO]
March 14, 2019
After EcoVadis’ Sustain 2019: How Its Offering Fits With Supplier Management, Risk Management Solutions (Part 2) [PRO]
March 21, 2019
After EcoVadis’ Sustain 2019: Product Strategy, Roadmap and Prospect/Customer Analysis (Part 3) [PRO]
March 22, 2019
EcoVadis: Vendor Analysis (Part 1) — Background & Solution Overview [PRO]
April 26, 2017
EcoVadis: Vendor Analysis (Part 2) — Product Strengths & Weaknesses [PRO]
May 3, 2017
EcoVadis: Vendor Analysis (Part 3) — Competitive and Summary Analysis [PRO]
May 30, 2017
Spend Matters’ news coverage:
EcoVadis, NYU report on the state of sustainable procurement
August 29, 2019
Visibility is Key to Managing CSR Risks in Indirect Spend, EcoVadis Says
May 9, 2019
EcoVadis to Add Risk Mapping Tool, On-Site Audit Feature to Its Core CSR Rating
March 26, 2019
Sustainability and Supplier Data: EcoVadis, Healthcare Firms Share Information for ‘Responsible Health Initiative’
March 11, 2019
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