Expansion Funds for ESG Insight Firm FigBytes

In Canada, environmental, social and governance (ESG) insight platform FigBytes has raised $10m in a funding round, along with a $4.5m debt facility, and will use them to expand its sales and marketing, customer success and product development initiatives in North America, Europe and India.

FigBytes' software platform is used by clients to manage, track and report on their ESG goals related to carbon accounting, water stewardship, philanthropy, and diversity, equity and inclusion (DEI). The firm's software automates data tracking and reporting, and provides a 'holistic view' of ESG activity, helping clients report to regulators and shareholders, reduce their environmental impact and create a more diverse, equitable workplace.

New funding comes from existing investor Quantum Innovation Fund, while the debt facility has been provided by Silicon Valley Bank, bringing the total raised to date to $25m. FigBytes co-founder and CEO Ted Dhillon (pictured) comments: 'We've always felt that ESG needs to be addressed as a whole. We make it easy for customers to see that big picture, all at once, in real time, with perfect fidelity, then to share it interactively with stakeholders. That's where the real impact lies: supporting the people making decisions that drive ESG and sustainability performance'.

Web site: www.figbytes.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.