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Novata Announces B Corp Certification

July 17, 2023 at 09:00 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Novata, an innovative technology platform and public benefit corporation that provides the private markets with a comprehensive Environmental, Social and Corporate Governance (ESG) data solution, today announced its certification as a B Corporation (B Corp). Novata is now included among businesses that are leading a global movement for an inclusive, equitable, and regenerative economy. This certification underscores Novata's commitment to helping enable a more sustainable and inclusive form of capitalism by operating its business in a way that benefits all stakeholders.

To become a Certified B Corporation, companies undergo B Lab’s rigorous review of the impact of their operations and business model on their workers, customers, communities and environment, and must score a minimum of 80 points on the B Impact Assessment. Companies taking the B Corp Assessment score an average of 51 points. Novata received a validated score of 102.9 — far exceeding the 80 points needed to pass. Learn more about Novata’s certification and score here.

“Since Novata’s founding as a public benefit corporation, we have been committed to operating as a responsible organization and aligning with B Corp principles," said Alex Friedman, Chief Executive Officer and Co-Founder at Novata. "We are proud to be B Corp certified, which is a natural next step in our company’s journey. It serves as an important signal to all our stakeholders that we are fully committed to making responsible business decisions.”

Since its commercial launch in April 2022, Novata has experienced significant global demand, with more than 4,500 private companies contracted to use the platform. Novata’s secure data collection, ESG benchmarks, and cutting-edge analytics platform offer critical market infrastructure for the private markets.

“We have always been on a mission to help enable a more sustainable and inclusive form of capitalism,” said Lorraine Spradley Wilson, Chief Sustainability Officer at Novata. “We are honored to join the global B Corp community, an esteemed group of forward-thinking companies reshaping the role business plays in society.”

To learn more about Novata’s platform offerings and to schedule a demo, visit the website and follow Novata on LinkedIn to keep up with the company’s latest news and insights.

About Novata

Novata is a certified B Corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata’s technology platform makes navigating the ESG landscape simple for private markets by identifying a clear starting point for selecting the metrics that matter, streamlining data collection, and contextualizing data to drive reporting and action. Novata is backed by the Ford Foundation, Hamilton Lane, Microsoft Omidyar Network, and S&P Global. For more information, please visit https://www.novata.com/.