EcoVadis Revenue, Valuation, Funding & Investors
EcoVadis is valued at $1B as of June 2022, a 8.7x multiple on its last reported $115M revenue.
Last EcoVadis valuation
$1B
Series C · Jun 2022
Last EcoVadis funding round
$500M
Series C · Jun 2022
EcoVadis revenue
$115M
Series C · Jun 2022
Key investors in EcoVadis
Partech
General Atlantic
CVC Capital Partners
GIC
Astorg
Princeville Capital
About EcoVadis
EcoVadis is a sustainability assessment platform rating business practices for global supply chains. Paris-headquartered since 2007, it evaluates suppliers on environment, labor, ethics, and sustainable procurement using standardized scorecards. EcoVadis serves clients like Google, Apple, and Renault, covering 200,000 companies across 175 countries with sector-specific benchmarks.
Founded
2007
HQ
ParisWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$115M (Jun 2022)
Valuation
$1B (Jun 2022)
EcoVadis Valuation
EcoVadis is currently valued at $1B, based on its Series C in June 2022.
The $500M round was led by Astorg and Beyond Net Zero, with participation from Princeville Capital, GIC and General Atlantic.
EcoVadis valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2022 | Series C | $1B | 8.7x |
EcoVadis Revenue
EcoVadis' latest recorded revenue is $115M, as of its Series C in June 2022. At a $1B valuation, that implies a 8.7x revenue multiple.
EcoVadis revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2022 | $115M | $1B | 8.7x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
EcoVadis Funding History
EcoVadis has raised a total of $732M across 3 funding rounds, plus 1 secondary share sale.
EcoVadis' first fundraising round was a $32M undisclosed-stage round in December 2016. The most recent completed round was a $500M Series C in June 2022.
EcoVadis funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Secondary | Bullhound Capital | - | - | EcoVadis announced on 1 November 2022 that it had added new investors through a secondary transaction attached to its Series C funding, in which BlackRock and GP Bullhound, now Bullhound Capital, took minority stakes by buying existing shares. The amount paid and the implied valuation were not disclosed, and the company itself received no new capital from the transaction, which changed the shareholder register rather than the balance sheet. The secondary followed the USD 500 million primary round EcoVadis had closed in June 2022, led by Astorg and General Atlantic's BeyondNetZero climate vehicle with participation from Princeville, GIC and others, a round on which GP Bullhound's advisory arm acted as exclusive financial adviser to the company and its shareholders. That financing valued EcoVadis above USD 1 billion and brought total investment in the business to more than USD 735 million. Manish Madhvani, co-founder and managing partner of GP Bullhound, said the firm had followed founders Frederic Trinel and Pierre-Francois Thaler for years, having worked with them on every funding round since the Series A in 2016. Trinel said the investment would help EcoVadis meet companies at any stage of their sustainability journey. Founded in Paris in 2007, EcoVadis assesses the sustainability management systems of its clients and their suppliers and delivers ratings through a subscription platform. At the time of the transaction it counted more than 850 multinational customers and a network of over 100,000 rated companies across 175 countries and more than 200 industries. |
| Jun 2022 | Series C | Astorg (lead); Beyond Net Zero (lead); Princeville Capital; GIC; General Atlantic | $500M | $1B | EcoVadis is the leading global provider of business sustainability ratings and collaborative performance improvement tools. The company helps procurement teams at over 700 blue-chip enterprises assess and improve sustainability performance across their 55,000+ suppliers in 175 countries, with customers including LVMH, L'Oreal, Unilever, Amazon, JPMorgan, and Johnson & Johnson. EcoVadis leverages artificial intelligence and machine learning to provide sustainability intelligence used across supply chain management, Scope 3 carbon emissions tracking, private equity assessments, ESG-linked loans, supply chain finance, and third-party risk management. In June 2022, EcoVadis raised $500 million in Series C funding led by Astorg and BeyondNetZero (General Atlantic's climate investing venture), with participation from GIC Private Limited and Princeville Capital. The round achieved a valuation of over one billion euros, making it the largest equity fundraising for a sustainability data SaaS company at the time, and brought the company's total capital raised to over $725 million. At the time of this investment, EcoVadis had €100 million in annual recurring revenue (ARR) and employed approximately 1,912 staff across offices in France, the US, UK, Tunisia, Spain, Hong Kong, Mauritius, Poland, Canada, Germany, Australia, and Japan. Over the 12 months preceding the round, the company achieved 50% revenue growth and had over 95,000 businesses using its platform across 200 industry categories. The capital is being deployed to enhance AI and ML capabilities, expand its assessment library, improve data quality and integration, accelerate international market consolidation in North America, Europe, and Asia-Pacific, and explore strategic M&A opportunities. The company has established partnerships with major technology and enterprise platforms including Microsoft, SAP, Celonis, Coupa, and Taulia, among approximately 40 partners total. |
| Jan 2020 | Series B | CVC Capital Partners (lead) | $200M | - | EcoVadis is the leading provider of business sustainability ratings for global supply chains, offering an evidence-based assessment methodology via a SaaS platform backed by CSR analysts. The company secured a c.$200 million investment from CVC Growth Partners II, announced on January 9, 2020, with the transaction expected to close in Q1 2020 following regulatory approvals. CVC Growth Partners, the growth-oriented arm of CVC Capital Partners, led the round as the sole investor mentioned, marking one of the largest investments in the ESG space at the time. The funds were intended to scale EcoVadis globally, expand into new countries like Japan, the US, and Australia, invest in its technology platform, and grow its network of rated companies, which already exceeded 60,000 across 155 countries. At the time, more than 450 enterprises representing over $2.5 trillion in business spending relied on EcoVadis' supplier ratings and engagement platform to evaluate and improve environmental and social performance. In 2019, EcoVadis added 10,000 companies to its network and opened new offices in Tokyo, San Francisco, and Melbourne, reflecting rapid growth. The investment positioned CVC executives on the EcoVadis board, with CVC highlighting ESG as critical to business success and supply chain risk management. Bain & Company made a minority strategic investment alongside the CVC deal, integrating EcoVadis’ ratings into its corporate strategy, supply chain, procurement, and financial investor offerings. CVC remained the largest institutional shareholder following EcoVadis' later $500 million Series C round in June 2022 led by Astorg and BeyondNetZero, which valued the company at over one billion euros but pertained to a different round and date. |
| Dec 2016 | Undisclosed stage | Partech (lead) | $32M | - | EcoVadis, founded in 2007, provides a collaborative platform for environmental, social, and ethical (CSR) performance ratings for global supply chains, servicing over 30,000 customers in 110 countries and used by more than 150 of the world's largest buyers including DuPont, Johnson & Johnson, Nestlé, and Subway. The company had grown organically for nine years at around 50% annually prior to this funding, employing 320 people across offices in France, US, UK, Mauritius, and Hong Kong. On December 13-14, 2016, EcoVadis raised its first institutional funding of €30 million (approximately $31.6-31.9 million) in a minority growth investment led by Partech Ventures, marking the first outside capital since inception. The proceeds were earmarked to accelerate worldwide adoption of its supplier CSR ratings, enhance rating reliability and value, invest in core platform technologies via in-house R&D and partnerships with tech startups, particularly in machine learning and natural language processing, and expand global partnerships leveraging Partech's US presence. Partech was selected for its transatlantic expertise, tech understanding, and passion for performance improvement. This round positioned EcoVadis to meet growing market demands for sustainability and supplier risk mitigation. Partech remained involved post-2016, with a board member noting continued support into later rounds, until potentially buying out in 2022. |
Who has invested in EcoVadis?
8 investors have backed EcoVadis across its funding rounds, including Partech, General Atlantic, CVC Capital Partners, GIC, Astorg and Princeville Capital.
Lead investors include Astorg, Beyond Net Zero, CVC Capital Partners and Partech.
EcoVadis Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 New York City, NY | 1 | Lead | Jun 2022 | |
| San Francisco, CA | 1 | Participant | Jun 2022 | |
 Singapore | 1 | Participant | Jun 2022 | |
| Paris | 1 | Lead | Dec 2016 | |
| New York City, NY | 1 | Participant | Jun 2022 | |
 London | 1 | Lead | Jan 2020 | |
This data is available for Pro users. Sign up to see all 8 EcoVadis investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by EcoVadis
EcoVadis has acquired 2 companies to date.
Last acquisition by EcoVadis was on September 4th 2024. EcoVadis acquired Ulula for undisclosed valuation.
Latest Acquisitions by EcoVadis
| Description | Ulula is a Montreal-headquartered human rights tech company that collects worker feedback via SMS, apps, and voice calls in 100+ languages. Operating since 2016, it serves agriculture, mining, apparel, and electronics supply chains for clients like Nestlé and Rio Tinto across 50 countries to monitor labor conditions and grievances. | ecotrek is a software platform assessing supplier sustainability for procurement teams worldwide. Berlin-headquartered, it analyzes data from more than two million suppliers against custom performance indicators aligned with regulations like the German Supply Chain Act. Users set targets for environmental and social metrics, receiving actionable improvement plans. ecotrek automates supplier scoring for industries including automotive and electronics. |
| HQ Country |  |  |
| HQ City | Toronto | Berlin |
| Deal Date | 4 Sep 2024 | 13 Jul 2022 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all EcoVadis acquisitions and their M&A valuation multiples. Start Free Trial | ||
EcoVadis Competitors
EcoVadis competitors include listed companies like Clarivate and Happiest Minds Technologies, and private ones like Pigment, Cardinal Operations, Govini and Huma.AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Paris | Private | $100M | - | $1B | 10.0x | |
| United Kingdom | Publicly listed | $2.5B | $829M | $1.2B | 2.2x | |
 Beijing | Private | - | - | $726M | - | |
 India | Publicly listed | $241M | $43M | $514M | 1.9x | |
| Washington, DC | Private | $100M | - | $1B | 10.0x | |
| Raleigh, NC | Private | - | - | $1B | - |
EcoVadis Public Comps
EcoVadis is still privately-owned, but its public comps include MBB, OceanPact, Charles River Associates, Lincoln International, Beijing Join-Cheer, MLP, Clarivate, Red Violet, WingArc1st and Similarweb.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $239M | 0.5x | 0.5x | 3.0x | 2.7x | |||
| $415M | $140M | 3.1x | 2.0x | 9.1x | 5.5x | |||
| $752M | $111M | 1.8x | 1.7x | 11.9x | 13.4x | |||
| $854M | $53M | 1.1x | - | 16.9x | - | |||
| $386M | $11M | 1.9x | - | 68.9x | - | |||
| $1.2B | $136M | 3.9x | 3.7x | 34.9x | 29.6x | |||
| $2.5B | $829M | 2.1x | 2.2x | 6.3x | 5.3x | |||
| $90M | $24M | 13.2x | 11.7x | 50.0x | 31.7x | |||
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Common questions about EcoVadis
| When was EcoVadis founded? | EcoVadis was founded in 2007. |
| Where is EcoVadis headquartered? | EcoVadis is headquartered in Paris, France. |
| Is EcoVadis publicly listed? | No, EcoVadis is a private, VC-backed company. |
| What is EcoVadis' valuation? | EcoVadis was last valued at $1B in its Series C in June 2022. |
| How much funding has EcoVadis raised? | EcoVadis has raised $732M across 3 funding rounds. |
| What was EcoVadis' last funding round? | EcoVadis' last funding round was a $500M Series C in June 2022, led by Astorg and Beyond Net Zero. |
| Who are EcoVadis' investors? | EcoVadis' investors include Beyond Net Zero, Princeville Capital, GIC, Partech, General Atlantic, CVC Capital Partners, Bullhound Capital and Astorg. |
| What is EcoVadis' revenue? | EcoVadis' latest recorded revenue is $115M (June 2022). |
| What is EcoVadis' revenue multiple? | EcoVadis' latest valuation implies a 8.7x revenue multiple ($1B valuation on $115M of revenue). |
| Which companies are comparable to EcoVadis? | Companies comparable to EcoVadis include Pigment, Clarivate, Cardinal Operations, Happiest Minds Technologies, Govini and Huma.AI. |
| How many companies has EcoVadis acquired? | EcoVadis has acquired 2 companies, including Ulula and ecotrek. |
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