Novata raises $30m

Novata has raised $30m in a series-B funding round, led by Hamilton Lane. Existing investors including the Ford Foundation, S&P Global and Novata’s founders contributed and were joined by Microsoft, which invested via its Climate Innovation Fund.

Additionally, partners and managing directors from several PE firms participated in the fundraise, including Canson Capital, Clearlake Capital, Hellman & Friedman, Kolhberg & Company, Lindsay Goldberg and The Vistria Group.

According to Novata’s CEO and co-founder Alex Friedman, the fresh funds will be deployed to enhance the company’s ESG data collection and onboarding capabilities.