Worldfavor offers a cross-industry SaaS platform that enables organizations to share and access supply-chain and ESG data to support reporting and decision-making. Its network is used by over 25,000 organisations across 130+ countries, serving procurement teams, investors/private equity and large corporates. Data on the platform is self-reported by providers rather than actively audited; Worldfavor provides analytics and basic checks and plans to develop more sophisticated tools and automated auditing using machine learning. The company focuses on growing data providers, data accessors and daily data transactions to increase utility and lower reporting fatigue. Management is targeting scale while boosting annual recurring revenue and says ARR is growing at a little over 100% and user base growth is roughly double that. The product roadmap emphasizes deeper analytics, potential automated verification capabilities, and expansion of the platform’s network effects. Worldfavor offers a global platform that lets organizations, suppliers and stakeholders exchange sustainability data and streamline reporting across value chains. The product aims to replace manual spreadsheets and legacy software, saving time and improving efficiency. The company reports that over 30,000 organizations have chosen to exchange sustainability data through its platform. Worldfavor was founded in 2011 and has an international team of sustainability specialists, system architects, UX experts and business leaders. Early support came from government agencies and incubators such as Vinnova, Almi and STING. The company plans to use new funding to expand into new countries, further develop the platform and grow its team.

Total raised

$13M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2022