FigBytes Raises Additional US$14.5M Funding

  • 04.12.2022
  • FinMes

FigBytes, an Ottawa, Canada-based provider of an environmental, social, governance (ESG) insight platform for strategy, data, reporting and stakeholder engagement, raised additional US$14.5M in funding.

Backers included existing investor Quantum Innovation Fund, an affiliate of Quantum Energy Partners, in addition to a US $4.5M debt facility from Silicon Valley Bank. This latest round of financing brings FigBytes’ total funding to date to US $25M.

The company intends to use the funds to continue growth and expand its sales and marketing, customer success, and product development activities in North America, Europe, and India.

Led by CEO Ted Dhillon, FigBytes helps companies and governments plan, track and fulfill goals along their environmental, social, governance (ESG) journey. Its ESG insight platform helps integrate strategy, align data, and report on progress while engaging stakeholders. Clients like Akamai, Cerberus, Ford Motor, Herbalife, the State of Minnesota, and Toyota Tsusho use FigBytes’ platform to manage, track and report on their ESG goals related to carbon accounting, water stewardship, philanthropy, and diversity, equity and inclusion (DEI). The company helps them report to regulators and shareholders, reduce their environmental impact and create a more diverse, equitable workplace.