Novisto raises $27M to power ESG reporting for global enterprises amid Europe’s tougher sustainability rules

The EU’s recent Omnibus package aims to streamline requirements for the Corporate Sustainability Reporting Directive (CSRD) and related frameworks amid green policy uncertainty. The package maintains strict accountability for the top 20% of organisations — those considered to have the most significant impact on people and the environment.
These regulations, including the EU Taxonomy and CSDDD, have elevated sustainable finance reporting to match the complexity of traditional financial reporting. In response, Novisto is strengthening its European market presence to support leading firms in this progressive regulatory environment.
Today, Montreal-based sustainability reporting software company Novisto has secured $ 27 million in Series C funding led byInovia Capital, with participation from existing investors White Star Capital, SCOR Ventures, and Sagard. The company’s total funding now exceeds $55 million, demonstrating strong market leadership despite global regulatory uncertainties.
The investment will fund enhancements to Novisto’s pioneering sustainability platform and accelerate its European expansion, aligning with the region’s progressive ESG regulations. The company plans to build a European team matching the size of its North American operations.
Novisto was co-founded in 2019 byCharles Assaf,Edouard Clement, andMarian Borcain Montreal, Quebec. They aimed to address the growing demand for efficient environmental, social, and governance (ESG) data management and reporting solutions.
Assaf shared with us: “Novisto was created to address the data challenges of sustainability reporting by applying modern technology and data discipline to the sustainability sector. This initiative was driven by the recognition of a market need to bring digital transformation to the sustainability function. The market demands transparent, accurate, and decision-grade sustainability information.”
The founders identified companies struggling with fragmented processes for collecting, tracking, and reporting ESG metrics — challenges intensified by increasing regulatory requirements and stakeholder demands for sustainability transparency. Novisto’s mission is to help organisations make informed decisions that drive positive ESG outcomes and create lasting value for all stakeholders.
Charles Assaf, CEO and co-founder, emphasises that corporate responsibility and sustainability are essential for economic and societal prosperity, “Forward-thinking leaders aren’t waiting for complete policy clarity to act on sustainability reporting and ESG compliance — they’re moving now. The market demands this from leading organisations and values transparent, accurate, and decision-grade sustainability information. We see an enormous global opportunity ahead, backed by our current momentum and led by senior executives committed to building more resilient and sustainable businesses.”
Novisto is transforming corporate sustainability and transparency through its comprehensive SaaS platform for ESG data management and reporting. The platform streamlines ESG data collection, analysis, and reporting while improving disclosure quality and consistency. It helps organisations benchmark performance and communicate effectively with stakeholders while ensuring regulatory compliance and delivering measurable sustainability outcomes.
Assaf explained: “Novisto’s platform is a purpose-built sustainability reporting platform that enables companies to collect, manage, approve, disclose, and defend their sustainability data, all in one place efficiently and securely. It serves as a centralized system of record for sustainability-related data, providing a reliable “source of truth”.”
The platform uses advanced AI and machine learning to automate workflows, validate data, and generate actionable insights, enabling organisations to move beyond compliance toward strategic ESG decision-making.
Integrating with over 100 data sources, including Salesforce and SAP, the platform grows with organisations as their ESG needs evolve. It offers customised reporting for various stakeholders and benchmarking against 17,500+ businesses, allowing companies to measure their ESG performance against peers.
The platform features unlimited user access, role-based permissions, and collaborative workflows to facilitate team participation in ESG initiatives. Users praise its intuitive interface and exceptional customer support. All ESG data is consolidated in one secure, auditable system, supporting quantitative and qualitative data for investment-grade reporting.
Novisto has been recognised as a Deloitte 2024 Technology Fast 50™ program award recipient, acknowledged by Gartner and Verdantix, and ranked #14 on The Globe and Mail’s Top Growing Companies list for 2024.
Strategic partnerships strengthen Novisto’s growth trajectory. Its collaboration with SINAI Technologies enables detailed carbon accounting and decarbonisation modelling, helping clients meet net-zero targets. Through GIST Impact, Novisto offers data-driven double materiality assessments for CSRD compliance, including monetary impact valuation and benchmarking tools. Its partnership with Q4 Inc. enhances ESG data management and stakeholder communications.
Real-world examples demonstrate Novisto’s platform impact. Sanofi used Novisto to produce one of the first fifteen CSRD-compliant reports, setting new data governance and quality standards. The Emirates Group employs Novisto for global ESG data consolidation and disclosure mapping. Other major clients, including CAE and Power Corp of Canada, have enhanced their ESG data accuracy and centralised reporting across complex operations.
Rising regulatory pressure, especially in Europe, drives Novisto’s rapid growth by increasing demand for standardised, auditable ESG reporting solutions. The company is expanding internationally, particularly in Europe, targeting financial services, banking, insurance, technology, and healthcare sectors. Ongoing investment in product innovation includes advances in artificial intelligence, analytics, and new modules to enhance capabilities and keep pace with evolving ESG standards.
The ESG industry is undergoing significant transformation. Intensified scrutiny of greenwashing makes accurate, auditable ESG data essential. Social factors are becoming more prominent, with increasing demands for transparency on social impact. Investors now routinely consider ESG factors in decision-making, making robust ESG data a competitive necessity.
Recognising the growing demand for green reporting, Inovia saw an early opportunity to partner with Novisto and lead the European ESG movement.Mia Morisset, Principal at Inovia, states: “Novisto is trusted by leading global enterprises, showcasing the strength of its premier product. Since its Series B, we have seen how Charles and his team developed a uniquely positioned solution for success. We are excited to continue supporting Novisto as it scales.”
Novisto’s plans for the next 3-5 years include supporting companies in operationalizing ESG through technology, doubling down on international expansion, particularly in Europe, as well as continuing its mission to be the go-to sustainability partner for enterprises worldwide.