Specializing in CSR, EcoVadis has made a name for itself thanks to its innovative approach to assessing companies' environmental and social performance. Its latest fund-raising round of $500 million has enabled the company to pass the billion-dollar mark. Let's take a closer look at this French Tech unicorn.
EcoVadis, responsible innovation made in France
Founded in Paris in 2007, EcoVadis has rapidly established itself as one of the world leaders in CSR. Its concept? To provide companies with a collaborative platform for evaluating the CSR (Corporate Social Responsibility) performance of their suppliers.
Thanks to a unique methodology and the use of quality data, EcoVadis enables companies to make informed decisions in their procurement process, taking into account ethical, social and environmental criteria .
How did EcoVadis conquer the global CSR market?
In its early years, EcoVadis followed an impressive growth trajectory. Thanks to its innovative technology and dedicated team, the company has succeeded in convincing many major industry players to join its platform.
Today, the company has a global presence. To its credit: over 1.6 million scanned companies from more than 200 different business sectors, in over 175 countries.
In addition, the growing importance of environmental and social concerns has played a key role in the rise of the French unicorn. Indeed, more and more companies have realized the importance of CSR in their overall strategy, and have sought reliable solutions to assess their sustainable practices.
CSR Unicorn: EcoVadis passes the billion euro mark
Since its inception, EcoVadis has successfully raised several rounds of financing, testifying to investors' confidence in its solid business model. In 2020, the French unicorn raised $200 million. Two years later, EcoVadis completed another record-breaking round of financing: $500 million. This round was led by the Astorg private equity fund and BeyondNetZero, a General Atlantic company specializing in climate change .
EcoVadis achieves the coveted status of unicorn, with a valuation in excess of one billion euros. This financial success testifies to the recognition of EcoVadis' added value in the field of CSR.
What's next? The French Tech unicorn would like to go public. "We're talking about a two- to three-year horizon. In the field of CSR, all winds are blowing. Our last fund-raising in the spring pushed back the IPO horizon, but it remains our North Star. Our ambition is to create the global standard for CSR ratings. A rating gives us a higher profile, greater financing capacity, and makes us better able to attract talent in the sector."say the founders of EcoVadis.
EcoVadis: Key facts
Number of employees to date
The EcoVadis team team is made up of over 1,400 employees of more than 70 different nationalities.
Sales figures
In 2022, the unicorn recorded sales of over €97 million, up more than 50% year-on-year.
Going public
EcoVadis is not yet listed on the stock exchange. However, going public is one of its main objectives.
Scalability
Thanks to its technology platform and well-thought-out operating model, the company can easily adapt to growing demand on a global scale. This agility enables it to positively influence the CSR practices of more and more companies, thus contributing to a large-scale sustainable impact.
Mantra/Citation CEO
"Responsible business transformation and the enhancement of social and environmental performance are our driving forces. That's why we don't conceive of our development in any other way than by ensuring that responsible principles and practices are fully integrated into our activities." - EcoVadis.
