Novata, a NYC-based technology platform and public benefit corporation that provides the private markets with a Environmental, Social and Corporate Governance (ESG) solution, raised $21m in Series A funding.
Principal investors include Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network.
The company intends to use the funds to expand operations and its business reach.
Led by Alex Friedman, Chief Executive Officer, Novata is a public benefit corporation created to help private equity firms and private companies navigate the ESG landscape by providing relevant reporting metrics, a contributory database to store information, and tools for analysis and reporting to key stakeholders, including limited partners and regulators.
Beta customers will have access to the platform before the end of the year, and broad access is due to launch in early 2022.