Draft:Novata

Novata is an American public-benefit corporation providing sustainability and environmental, social, and corporate governance (ESG) data management software for private markets.[1] Formed through a consortium including S&P Global, the Ford Foundation, Hamilton Lane, and the Omidyar Network, the company focuses on standardising ESG data collection and reporting for private equity firms and their portfolio companies.[2]

History

Novata was established in October 2021 as a public-benefit corporation, a legal structure requiring the company to balance stakeholder interests alongside shareholder returns.[2] The company was co-founded by Alexander Friedman, who previously served as Chief Financial Officer of the Bill & Melinda Gates Foundation and Global Chief Investment Officer of UBS, and Josh Green, who previously co-founded Panjiva, a supply-chain data company acquired by S&P Global.[3]

In November 2021, Novata completed a US$21 million Series A funding round.[4] The commercial platform launched in April 2022.[5] A US$30 million Series B funding round was completed in February 2023, with participation from Microsoft's Climate Innovation Fund and Hamilton Lane, bringing total funding to US$51 million.[6] In 2023, the company received B Corp certification.[7]

In October 2025, Novata acquired Atlas Metrics, a Berlin-based sustainability reporting platform, expanding its European presence.[8]

Operations

The company provides a cloud-based platform for private market investors to collect and analyse ESG metrics, track emissions, and perform sustainability due diligence.[9]

References

  1. ^ "Foundations, Private-Equity Firms Create ESG Reporting Platform". The Wall Street Journal. 7 October 2021. Retrieved 6 May 2026.
  2. ^ a b Quinson, Tim (7 October 2021). "Private-Equity Firms, Foundations Team Up for New ESG Platform". Bloomberg. Retrieved 6 May 2026.
  3. ^ Sloley, Chris (12 October 2022). "There was an opportunity: What Alexander Friedman did next". Citywire. Retrieved 6 May 2026.
  4. ^ Quinson, Tim (9 November 2021). "Novata Gets Additional Funding for Private-Markets ESG Platform". Bloomberg. Retrieved 6 May 2026.
  5. ^ "Pulling back the curtain on private equity's ESG impact". Financial Times. 30 March 2022. Retrieved 6 May 2026.
  6. ^ Segal, Mark (28 February 2023). "Private Markets ESG Data Platform Novata Raises $30 Million". ESG Today. Retrieved 6 May 2026.
  7. ^ "Can private equity meet public responsibilities?". Financial Times. 11 October 2023. Retrieved 6 May 2026.
  8. ^ Segal, Mark (7 October 2025). "Novata Acquires Sustainability Reporting Solutions Provider Atlas Metrics". ESG Today. Retrieved 6 May 2026.
  9. ^ "Novata unveils new ESG Due Diligence platform for private markets". FinTech Global. 28 April 2025. Retrieved 6 May 2026.

Category:Financial technology companies of the United States Category:Companies based in New York City Category:Companies established in 2021

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