Once a Niche Player in the Ecosystem, FigBytes Continues Its Transformation to Becoming a Leading Authority On Sustainability
Submitted by: FigBytes Inc.
Posted: Jan 25, 2019 – 12:10 PM EST
GATINEAU, Canada, Jan. 25 /CSRwire/ - FigBytes Inc. (FigBytes), has acquired the global sustainability platform of Detroit, MI-based Unison (Unison), representatives from both companies have confirmed. The deal closed on January 25th, 2019. Financial terms were not disclosed.
The acquisition is a continuation of FigBytes’ long-term growth strategy, which has been a key focus for FigBytes CEO, Ted Dhillon. “Our mission at FigBytes has always been to accelerate the world’s progress towards the UN’s Sustainable Development Goals. Given Unison’s pioneering work in sustainability measurement, we see the addition as a natural fit.” said Dhillon.
In tandem with this acquisition, FigBytes has secured private-equity investors who are driven by their impact investment strategy in the sustainability sector. The company will use the funding to build on its pioneering work in making sustainability strategic, visible and real-time.
“We’ve spent the past five years intensely focused on elevating sustainability to the boardroom for corporations, governments, & non-profits alike. Companies, cities and other mission-based organizations want to move beyond traditional compliance and retrospective reporting to showing real-time progress towards their forward-looking goals, which are increasingly being linked to the UN Sustainable Development Goals. This is a major step towards achieving our vision of bringing the world together around the journey to 2030,” said Colin Grant, FigBytes’ Chief Commercial Officer.
As part of this Acquisition, Unison’s Chief Executive Officer, Mohammad Hamid, will join FigBytes’ Board of Directors where he will focus on the firm’s growth in North America and the Middle and Far East, while also driving FigBytes’ acquisitions. Previously, Hamid was the CEO of Conadus, a global leader in cybersecurity, until it was acquired in 2012.
Additionally, FigBytes’ has announced that Johann S. Wong has joined the company as a Partner, where he will lead the company’s investment strategy. Mr. Wong has an extensive background in corporate finance and alternative investments. He was previously the founder and CEO of HedgeWorld.com, which was acquired in 2005.
FigBytes’ Vision and Strategy
As it continues its momentum in 2019, there are three key themes the company will focus on: i) building a flexible global platform; ii) bridging the sustainability ecosystem’s go-to-market gaps; and iii) meeting the needs of marketplace today, balanced with our vision and solutions.
“While there has been a proliferation of sustainability-oriented companies over the past decade, the vast majority are still very small and focused on market niches. By having the vision, strategy and proven operating team to make a significant capital investment, with a long-term orientation, we believe that we can build a global platform that transforms the sustainability market,” said Mr. Wong.
Commenting on FigBytes’ approach to the marketplace needs, Mr. Hamid said, “In collaboration with FigBytes’ impact investment partners, we are excited to launch our new strategy, which is to accelerate the progress of the SDG’s by providing focused and collaborative solutions to corporations, governments and non-profits.”
From a product standpoint, the company plans to add further fuel to their engine. “In emergent solution categories such as sustainability, there is a tendency to build products that are ahead of the market, in terms of needs and budget. And while FigBytes views investment in the product as a critical success factor, we see an incredible opportunity to disrupt existing solution categories in the marketplace,” said the company’s Chief Technology Officer, Sonam Devgan.
FigBytes is a SaaS technology company that provides sustainability solutions to corporations, governments, & mission-based organizations, that accelerates the world’s pathway to achieving the UN’s Sustainable Development Goals. FigBytes empowers organizations to integrate the principles of environmental sustainability and (CSR), into core business strategies, integrating strategy, brand, performance, and reporting. FigBytes connects high level strategy to data and shows progress utilizing innovative visualizations that go beyond conventional charts and graphs. FigBytes replaces fragmented modes of communication including presentation decks, PDFs, spreadsheets, and outdated data management systems with a cloud-based system that transforms raw data into visually engaging results.
Unison helps the world’s largest organizations create and enhance relevance, engagement, and trust with their key stakeholders. Using a combination of the right people, processes, and technology, Unison's global team provides deep insights into key shifts in attitudes and behaviors among employees, customers, suppliers, investors, regulators, and society. By engaging with Unison, clients are able to operate at the apex of organizational performance, all while maintaining their commitment to operating sustainably and responsibly.
Since 2012, Unison's Stakeholder Insights Platform has been leveraged by Fortune 500 organizations across five key industry sectors: Healthcare, Manufacturing, Financial Services, Energy & Retail. Unison's ground-breaking work in addressing the C-suite's most critical challenges has been featured in The New York Times, Financial Times, Reuters and Forbes.
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