- Quantum Innovation Fund provided $10 million in funding while Silicon Valley Bank provided a $4.5 million debt facility
- FigBytes helps companies and governments plan, track and fulfill goals along their environmental, social, governance journey
- The company plans to use the funds raised to support its continued growth and expand its sales and marketing, customer success and product development activities
FigBytes, an Ottawa-based software-as-a-service solution for ESG and sustainability management, has raised an additional $14.5 million in equity and debt financing.
Quantum Innovation Fund, an affiliate of Quantum Energy Partners, provided $10 million in incremental equity funding, while Silicon Valley Bank provided a $4.5 million debt facility.
This latest round of financing brings FigBytes’ total funding to date to $25 million.
FigBytes helps companies and governments plan, track and fulfill goals along their environmental, social, governance journey. Its ESG Insight Platform helps integrate strategy, align data and report on progress while engaging stakeholders.
The company plans to use the funds raised to support its continued growth and expand its sales and marketing, customer success and product development activities in North America, Europe and India.
“In this emerging market, FigBytes stands out for its ability to bring comprehensive functionality based on a detailed understanding of customer ESG reporting needs,” said Quantum Innovation Fund partner and FigBytes board member Jeffrey Harris in a statement. “They’ve created a solution that works the way ESG professionals do. They’ve found product-market fit and with this new capital have the pieces in place to continue their rapid growth.”
Quantum Energy Partners is a US-based provider of private equity, credit, structured capital and venture capital to the energy and energy transition and decarbonization sectors.
Silicon Valley Bank provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity, venture capital and wine industries.