BlueMark has raised $US10 million in a series A round that was led by S&P Global, and included Temasek Trust Capital, Blue Haven Initiative, Gunung Capital, and Tsao Family Office. With Ford Foundation and Radicle Impact allocating for a second time.
The impact verification company spun-out from Tideline some years ago, and has seen strong growth as demand grows for third-party verification of impact data and reporting.
They remain the leading provider for institutional investors. The funding will help them extend their lead, so far they’ve completed 125 verifications, and they have their sights set on expanding their geographic reach to areas like Asia.
“This latest funding round shows how strong the appetite is for greater transparency, accountability, and integrity in the impact and sustainable investing market. BlueMark’s distinctive approach to impact verification, benchmarking, and analytics continually raises the bar on best practice impact management and reporting among investment managers and also helps asset allocators identify and engage with managers driving impact.” says Christina Leijonhufvud, CEO of BlueMark.
And Managing Director of Investments at Temasek Trust Capital, Dawn Chan, highlighted the opportunities to expand the offering to the southern hemisphere.
“Impact and sustainable investing is a focus at Temasek Trust Capital. We see significant growth opportunities for impact investing in Asia and around the world. Independent experts are vital in assessing and assuring that investors are delivering on their impact claims and commitments. BlueMark is a leader in this space, and we look forward to working with the BlueMark team to expand their verification and market intelligence services to new geographies and sectors.”