LONDON (Reuters) - Sustainability data firm EcoVadis has raised $500 million to become one of the sector's first "unicorns", its co-chief executive told Reuters, as demand from companies to track their performance on environmental and social issues surges.
A unicorn is an unlisted firm valued at $1 billion or more.
The financing, led by private equity firms Astorg and BeyondNetZero, General Atlantic's climate investing arm, as well as Singapore's GIC and Princeville Capital, is the largest equity fundraising to date for such a company, EcoVadis said.
It takes the total capital raised by the company to over $725 million.
Used by more than 95,000 businesses across 200 industry categories and 175 countries, EcoVadis provides ratings on environmental, social and governance-related (ESG) issues and helps create plans for companies to improve their score.
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