AMCS, a provider of environmental software solutions, today announced the acquisition of Figbytes, a provider of ESG data and reporting platforms.
Ottawa-based FigBytes was launched in 2014 by co-founders Sonam Devgan and Ted Dhillon and helps organizations plan, track and report ESG goals in areas ranging from carbon accounting and climate action to water impacts and supply chain operations.
Details of the transaction were not disclosed. In December 2022, FigBytes announced that it had secured $14.5 million in financing, including $10 million in financing from existing investor Quantum Innovation Fund, and a $4.5 million debt facility from Silicon Valley Bank.
Ted Dhillon, CEO and co-founder of FigBytes said:
“The combination of FigBytes’ award-winning Sustainability Platform and Environmental Software Solutions’ AMCS suite provides organizations with a unique, compelling offering and one of the clearest digital pathways to a more sustainable future, while enabling them to comply with ESG regulations all over the world . I am incredibly confident that our partnership with AMCS will provide enormous opportunities for organizations to drive even greater positive change for people and the planet.”
The transaction marks the second strategic ESG move for AMCS, following the company’s acquisition of Quentic, a European SaaS for ESG and environment, health, safety and quality, last year. According to AMCS, FigBytes’ market presence in North America will complement its established presence in Europe, while also enabling the company to better serve its customers worldwide with SaaS solutions that help them achieve their sustainability goals and the increasingly complex manage regulatory reporting requirements.
Jimmy Martin, CEO of AMCS, said:
“This acquisition underlines our mission to provide integrated, secure and future-proof environmental software solutions that help customers around the world accelerate their growth and sustainability.”