# Novi Connect

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/novi-connect

- Industry: Business Support Services
- Headquarters: Larkspur, US
- Website: www.noviconnect.com
- Total disclosed funding: $41M
- Latest round: Series B (Feb 4, 2022)
- Investors on record: 3

## About

Novi Connect, Inc. specializes in a software platform that streamlines the verification and certification of sustainable products for consumer packaged goods brands and retailers, promoting compliance and customer trust.Founded in 2019 in Larkspur, US, Novi Connect, Inc. offers a platform dedicated to verifying sustainable and clean living products. The firm has completed a total of 3 funding deals with its most recent round, a Series B, raising USD 40.00 mn on February 4, 2022. The funding was led by Tiger Global Management, with participation from Defy.vc and Greylock Partners. The current CEO is Kimberly Shenk, one of the founders alongside Danny Levy, Jaleh Bisharat, Michael Balak, and Natasha Damner. The company has its headquarters in Larkspur, US.Novi specializes in providing a software platform designed to facilitate the verification and certification of sustainable and clean living products for consumer packaged goods (CPG) brands and retailers. The platform enables users to automate the vetting process for product claims, ingredients, formulations, and packaging, ensuring compliance with various sustainability standards. By streamlining operations and eliminating the risk of greenwashing, Novi's services cater to values-based shoppers, helping brands enhance customer trust and loyalty. The company serves a diverse client base that includes CPG brands and retailers across North America and Europe, aiming to meet the growing consumer demand for ethically sourced and environmentally friendly products. Key use cases include certifications for vegan, cruelty-free, and BIPOC-owned products, with the platform assisting brands in gaining essential retailer designations that boost product visibility and sales.Novi's revenue model is built around partnerships with CPG brands and retailers that utilize its platform for compliance and marketing of sustainable products. Through subscription-based services, clients benefit from automated product vetting and certification processes, which enhance their marketability and customer engagement. The platform integrates features such as product badging and claims verification, which are essential for brands aiming to establish credibility in the sustainability space. The firm generates revenue by charging brands for access to its platform and services, creating a streamlined transaction structure that fosters long-term relationships with clients. Notable products associated with the platform include various certifications and badges that signify sustainability claims, contributing to the overall revenue generated from product sales and brand collaborations.In February 2022, Novi Connect, Inc. raised USD 40.00 mn in Series B funding led by Tiger Global Management, with participation from Defy.vc and Greylock Partners. The company plans to utilize this funding to enhance its technology, expand its selection of ingredients, fragrances, and packaging, and grow into new verticals such as home care and food. Novi aims to expand its reach into new markets across North America and Europe, targeting specific consumer segments that demand sustainable products.

## Funding rounds

- Series B, Feb 4, 2022, $40M — Greylock Partners, Tiger Global Management, Defy.
- Seed, Feb 14, 2020, $1.4M — Defy.

## Investors

- Defy. (https://capitalatlas.ai/funds/defy) — Seed, Series B
- Greylock Partners (https://capitalatlas.ai/funds/greylock-partners) — Series B
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B