Novata Raises $30M in Series B

Novata, a New York-based Environmental, Social and Corporate Governance (ESG) solution provider raised $30M in Series B funding.

The round was led by Hamilton Lane with participation from existing investors Ford Foundation, S&P Global, Microsoft, through its Climate Innovation Fund. In addition, partners and managing directors from a range of private equity firms participated in the Series B, including Canson Capital Partners, Clearlake Capital, Hellman & Friedman, Kohlberg & Company, Lindsay Goldberg and The Vistria Group.

The company intends to use the funds to expand its business reach.

Led by CEO Alex Friedman, Novata is a public benefit corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism via a secure data management and analytics platform that allows investors to align their capital flows with the metrics that matters to them. The company’s technology platform makes navigating the ESG landscape simple by identifying a clear starting point for selecting the metrics that matter, streamlining data collection, and contextualizing data to drive reporting and action.

Novata says it currently serves over 3,500 private companies.