Germany-based regulatory compliance startup osapiens Services GmBH today divulged that it has closed a $120 million investment led by Goldman Sachs.
The Series B round follows a year in which osapiens claims to have more than quadrupled its installed base. The company’s software is now used by more than 1,300 customers including Coca-Cola Co., Costco Wholesale Corp. and other major brands.
Enterprises use osapiens’ flagship osapiens Hub platform to maintain their compliance with ESG, or environmental, social and governance, regulations. The platform promises to ease the task of implementing the European Union’s sustainability rules. According to osapiens, its platform also reduces the amount of work involved in complying with country-specific laws such as Germany’s LkSG regulation.
There are several laws worldwide that require large enterprises to disclose their impact on the environment. As part of its platform’s feature set, osapiens provides capabilities that can measure the carbon emissions produced by a company’s business operations. The software also collects information about indirect emissions, such as those associated with the electricity an organization purchases from utilities.
Another set of features in osapiens HUB is designed to help enterprises comply with whistleblower protection rules. According to the company, its platform includes a tool for processing anonymous complaints from both employees and external stakeholders.
Some regulations require companies to monitor for ESG issues in not only their own business operations but also throughout their supply chains. To ease compliance with such laws, osapiens HUB provides a questionnaire tool that a company can use to ask suppliers for information about their sustainability initiatives. The platform also collects data on business partners’ ESG programs from external sources.
Under the hood, osapiens Hub uses artificial intelligence models to detect certain types of ESG compliance issues. The platform’s AI features are powered by a software module that allows a company’s data scientists to install third-party neural networks if the built-in models are insufficient. It also provides features for several related tasks, including the process of preparing business information for processing by AI models.
A second osapiens Hub module provides capabilities for ingesting data from connected devices. A delivery company, for example, could analyze data from sensors installed in its trucks to find ways of lowering their fuel consumption. According to osapiens, the module also has uses for companies in other industries including the manufacturing sector.
“osapiens enables them to make a positive impact not only on their P&L but also on the planet,” said osapiens co-founder and Chief Executive Officer Alberto Zamora (pictured, center, with co-founders Matthias Jungblut and Stefan Wawrzinek).
The $120 million funding round announced today will enable osapiens to extend its platform’s feature set to more use cases. In parallel, the company will ramp up go-to-market initiatives to expand its international presence.