Datamaran announced the completion of $33 million in Series-C financing from investment funds managed by Morgan Stanley Expansion Capital, validating its global leadership in the ESG software market.
The proceeds will be used to accelerate growth in the U.S and Europe and further advance initiatives in generative AI.
In the 18 months since its last funding round, Datamaran has more than doubled its subscription revenue, fueled by rapidly increasing demand for its ESG governance and risk solutions from C-Suite executives. The company’s software platform allows clients to monitor over 400 external risk factors and transform ESG compliance from a cost center into a value driver.
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“As a 10-year-old company, we are the trailblazers in strategic ESG, and this investment will enable us to stay at the forefront of innovation in AI-powered software to serve our clients’ growing needs,’’ said Marjella Lecourt-Alma, CEO and Co-founder of Datamaran. “With the number of ESG reporting requirements increasing exponentially, there is a clear incentive for companies to double down on ESG governance and know their material risks and opportunities.’’
Datamaran’s platform allows its nearly 200 clients, including Dell, Cisco, AB InBev, Deloitte, and Pepsico, as well as organizations such as the European Financial Advisory Reporting Group (EFRAG), to prepare for and comply with the more than 4,000 ESG regulations and standards globally. In addition, its database of 9,000 companies lets customers easily benchmark themselves, set targets, and achieve the best outcomes to drive efficiency and profitability.
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Commenting on the financing, Lincoln Isetta, Managing Director of Morgan Stanley Expansion Capital, said: “Datamaran has exhibited impressive growth and capital efficiency since we first met them over two years ago. They are a market leader in providing technology that enables companies to embed ESG into their business practices, which is becoming more important as customers, stakeholders and regulators demand ever greater accountability from global enterprises. We are excited to partner with Marjella and her team to support Datamaran’s next stage of growth, penetrating further into the U.S. market and seeking to add more Fortune 500 companies to an already impressive client roster.”
International regulations such as the European Union’s Corporate Sustainability Reporting Directive are increasingly requiring proof of C-suite ownership and board oversight of ESG issues. Datamaran’s clients benefit immediately from the adoption of its platform as a governance tool that enables accountability, while ensuring agility as the ESG landscape undergoes rapid change.
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