Allianz has been confirmed as among the investors participating in a recent Series B funding round for ESG Book, a global provider of cloud-based sustainability products and solutions.
The data and technology firm raised $35 million in the funding round, which was led by investment firm Energy Impact Partners (EIP), alongside Meridiam and Allianz X, the digital investments arm of global insurer and asset manager Allianz.
The new capital is expected to be used to advance ESG Book’s technology capabilities and accelerate the company’s expansion as it responds to growing demand for technology-enabled ESG data solutions.
The company’s cloud-based platform aims to make ESG data accessible, consistent, and transparent, thereby enabling financial markets to allocate capital towards more sustainable and higher impact assets.
“Investors, companies, and all market participants are today demanding better, technology-enabled solutions in order to direct capital towards more sustainable and higher impact assets,” said Daniel Klier, CEO of ESG Book.
“ESG Book is disrupting how sustainability is integrated and measured on a global scale by using next-generation technology that makes ESG data accessible, comparable and transparent. By partnering with three of the world’s leading sustainability-conscious investors, EIP, Meridiam, and Allianz X, we are excited about the next chapter of our company’s growth as we scale ESG Book’s platform and services worldwide.”
“As an investor, we know how important data is for making decisions,” added Carsten Middendorf, Head of Platforms & Acquisitions at Allianz X.
“Sustainability isn’t just a fad or a phase. It’s our necessary present if we are to have a future. That’s why it’s so important to ensure transparency, quality, and comparability in ESG data. We at Allianz X invest in the future, which is why we’re supporters of ESG Book.”