EcoVadis, a French technology firm that ranks companies for environmental responsibility, ethical treatment of workers and other practices, has received more than $30 million in venture funding, as the business of vetting corporate supply chains continues to grow rapidly.
Companies spend billions of dollars annually to ensure their suppliers aren’t using slave labor, polluting natural resources or engaging in political corruption. They often turn to third parties to investigate far-flung contractors and confirm to investors and consumers that they are behaving ethically.