Worldfavor

About Worldfavor

Worldfavor offers a global digital platform focused on sustainability, designed to assist organizations in managing and exchanging sustainability and compliance information. The company was co-founded by Andreas Liljendahl (CEO), Frida Emilsson (COO), and Pär Gustafsson (CTO). The idea originated in a Stockholm apartment, driven by the realization that a centralized, trustworthy source for sustainability information was missing for businesses. This led to the platform's creation, which officially launched in 2016 with the mission to make sustainable business practices mainstream.

The founders' backgrounds are complementary to the company's mission. Andreas Liljendahl has a background in business economics and over a decade of experience in the IT industry as a consultant and project manager, fueling his passion for using technology for positive impact. Frida Emilsson holds degrees in Sustainable Development and Business Administration from Uppsala University, with experience in impact, sustainability, and venture management. Her work is focused on enabling companies to use technology for transparency and accountability in corporate social responsibility.

Worldfavor operates on a Software-as-a-Service (SaaS) model, providing a platform for companies to access, share, and analyze environmental, social, and governance (ESG) data. Its client base is diverse, ranging from SMEs to Fortune 500 companies, including notable names like O'Neill, Oatly, and Intersport, across more than 130 countries. The platform serves various industries such as food and beverage, finance, manufacturing, and private equity. The company generates revenue through subscriptions to its platform, which helps businesses streamline sustainability reporting, ensure compliance with regulations like the SFDR and CSRD, and gain insights into their supply chains.

The platform's core function is to replace manual spreadsheets and outdated software for sustainability reporting. It features several solutions, including Sustainable Sourcing, Sustainable Investments, and EU Taxonomy compliance tools. A key feature is its ability to provide multi-tier visibility into complex global supply chains, allowing companies to trace impact down to the raw material level. The platform incorporates AI-powered supplier screening for instant risk and ESG performance insights, alongside tools for collecting supplier-verified data. It supports numerous international frameworks and standards, such as GRI, SDGs, and various ISO standards, enabling organizations to automate data collection, track emissions, and benchmark their performance. This helps clients not only to manage risk and ensure compliance but also to empower their portfolio companies and improve their overall ESG performance.

Since its founding, the company has achieved significant growth, expanding its network to over 30,000 organizations. Worldfavor has raised a total of $14.7 million over four funding rounds, with the latest being a Series A round of $10.2 million in August 2022, led by SEB. This funding is aimed at fueling international expansion and further platform development.