ImpactAlpha, October 13 — London-based data analytics provider Net Purpose has raised £10 million to help investors measure the performance of their portfolios across climate, water, waste, gender, financial inclusion, healthcare and other social themes.
“Investors are demanding the facts on the social and environmental performance of their funds, just like they do financial return,” said CEO Samantha Duncan. The company says its “independent fact-base” allows investors to go beyond self-reported data and ESG rankings to understand actual performance.
The Series A financing was led by Environmental Technologies Fund alongside M-Tech Capital and Exceptional Ventures. Existing investors include Jim O’Neill, ex-of Goldman Sachs Asset Management, IHS Market’s Kevin Gould, the Louis family, Illuminate Financial, and Revent.
“To make this moment matter, we must have a way to quantify purpose,” O’Neill said. “We must establish a global source of facts that investors can trust and understand.”