Why did we invest in EcoVadis?
As customers, we’ve all come to bring higher consideration to the sustainability of our actions, even by focusing more on the social responsibility of the companies we buy from. Sustainability has become a key aspect of small and large corporate roadmaps, government programs and is in the social spotlight around the world, whatever the political context; hence the global rise of what is known as the extra-financial rating market, which includes Corporate Social Responsibility (CSR) rating. Frédéric Trinel and Pierre-François Thaler were ahead of their time, as back in 2007, they identified this emerging trend and launched EcoVadis. They specifically addressed the need for companies to offer solutions assessing the quality of suppliers and business partners at each level of the value chain.
They created a unique CSR supplier rating platform which allows large corporates to monitor improvements in the sustainability of their suppliers, reduce their risk exposure and protect their brand. Through an in-depth knowledge of CSR compliance and regulation challenges and an extensive industry coverage, EcoVadis has successfully become the world leader in supplier rating. EcoVadis’s success also lies in the network effect inherent to its business model: the larger the size of the corporates becoming customers, the higher the probability their suppliers have already been rated. This brought EcoVadis to new heights in 2016, extending its client base to more than 30 000 suppliers for over 150 Corporate clients in Europe and North America.
Being the fund to invest in EcoVadis, we at Partech Ventures are looking forward to supporting these outstanding entrepreneurs and bringing their business to an even greater level, both in Europe and in the US.
We welcome EcoVadis, and Frédéric and Pierre-François, to the Partech family.
We are delighted to start this new journey with you.