HowGood, a SaaS data platform with the world’s largest sustainability database for the food and personal care industries, announced it has raised a $6 million investment round led by Contour Venture Partners, with participation from FirstMark Capital, Danone Manifesto Ventures, Trailhead Capital and others. The funding will accelerate the rapid development of HowGood’s Latis sustainability intelligence platform, which provides instant, ingredient-level sustainability insights to CPGs, restaurants and retailers, in addition to fueling product innovation and expansion into key verticals beyond food and grocery.
With Latis, brands can rapidly determine the impact of any ingredient or product against key environmental and social impact metrics like greenhouse gas emissions, biodiversity, labor risk, animal welfare, and more. Latis customers include the majority of brands within Danone North America, a business unit of Danone and one of the Top 15 food and beverage companies in the U.S. Additional HowGood customers leverage their data to power consumer-facing offerings, including Chipotle’s “Real FoodPrint” feature which launched in October 2020.
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“Sustainability is no longer a ‘nice to have’ – it is a prerequisite in competing for consumer mindshare,” said Alexander Gillett, CEO and founder of HowGood. “HowGood is making it possible for global brands to take a leadership position in a rapidly-changing marketplace by putting powerful data into the hands of decision-makers in a way that is more accessible and actionable than anything else on the market. This investment will help to scale our product offering and allow for expansion into new verticals.”
“HowGood has spent years building and productizing a research database that is unparalleled in the sustainability intelligence industry,” said Matt Gorin, Managing Director and Co-Founder of Contour Venture Partners, who was also HowGood’s seed investor. “We are excited to partner with the company as they drive real change across the supply chain and support CPGs and retailers in their increasing efforts towards sustainable and regenerative product development. This has now become table stakes for food brands in order to meet the demands from the consumer around food ingredient transparency across a number of variables that are important to them.”
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“HowGood has proven to be a valuable innovation partner to Danone, helping bring in-depth sustainability insights through Latis,” says Laurent Marcel, CEO of Danone Manifesto Ventures. “We are pleased to expand our relationship with HowGood as a partner and an investor and look forward to our continued work with Alexander and the team.”
HowGood has the only SaaS product on the market that combines comprehensive sustainability data with a very easy-to-use interface that requires no prior sustainability knowledge from users. With the capital, HowGood is poised to expand its platform to meet additional market demands, including the incorporation of supplier and nutritional data, and bring the product to new verticals like health & beauty and textiles.
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