Higg, a sustainability insights platform for the consumer goods space, has collected $50m for its $50m Series B funding round.
Silversmith Capital Partners and Galvanize Climate Solutions co-led the round, with participation also coming from Titan Grove and Buckhill Capital.
This capital injection will help the company expand into new consumer goods categories, such as outdoor, automotive, toys and home goods.
The company enables continuous improvement of supply chain sustainability for carbon, water, energy and labour impacts. Its platform helps design more sustainable products, expand worker wellbeing and identify suppliers with reduced impact across emissions, water, chemicals and waste.
It claims that while most sustainability solutions offer high-level estimates of a business’ impact, Higg provides primary data specific to a business’ sourcing and value chains.
Higg CEO Jason Kibbey said “In this new era of expectations, more businesses will be required to have credible impact data about their supply chains. The truth is that measuring owned operations is easy.
“For consumer products companies, the challenge is obtaining accurate data on the non-owned factories that make the goods—and on the materials and products themselves.”
Speaking on the investment, Buckhill Capital general partner Henrik Jones said, “When we began supporting Higg in 2018, we knew the marketplace for ESG data would expand rapidly.
“Given the impact we’ve seen in apparel and footwear, our dream is to make Higg as universal and ubiquitous as the bar code—something which lies at the heart of every consumer goods business and drives more informed choices for companies and shoppers alike.”
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