Benchmark Gensuite Breaks Investment Silence And Rebrands

  • Blog
  • ESG & Sustainability

Benchmark Gensuite Breaks Investment Silence And Rebrands

Despite its fragmented landscape, the ESG software market is predicted to reach $4.34 billion by 2027 (see Market Size And Forecast: ESG Reporting Software Solutions 2021-2027 (Global)). Primary drivers such as expanding ESG regulations and stakeholder demands for greater transparency are fuelling this rapidly growing, competitive market. ESG software vendors are battling for visibility and customer bases. Vendors are making strategic moves to gain market share in three main ways: rebranding, acquisitions, or through investments to accelerate growth.

As a case in point, ESG provider Benchmark ESG has rebranded to Benchmark Gensuite, representing a merge of its two constituent brands Benchmark ESG and Gensuite — organically developed digital solutions for EHS, sustainability, ESG reporting, quality, product stewardship, supply chain and operational risk.

Benchmark Gensuite has also taken advantage of the opportunity to use an investment to accelerate growth and capitalize on increasing market demand. Recently, the firm received a minority investment from Vista Equity Partners. This is the organization’s first ever influx of outside funding in its 15-year history as an independent enterprise. Given that Benchmark Gensuite is using two of the three key moves to strengthen its position in the market, is there a chance it will also look to an acquisition to expand or deepen its reach even further? It’s a tactic that others have used successfully, notably in Cority’s recent acquisition of Greenstone and Nasdaq’s acquisition of Metrio last year.

With a continuing stream of pureplay ESG software solutions coming onto the market with highly specialized point solutions, small vendors are running out of time to scale up quickly – especially if there is less available cash in the market. Currently, many are still specializing in customer groups in particular industries and are gradually expanding their offerings. However, smaller firms are facing a turning point in retaining their independence and fending off larger players who serve multiple verticals and horizontals.

Vendors are now being forced to innovate their product offerings as current and potential clients become more knowledgeable about reporting and begin looking for additional functionality to meet their specific needs, such as materiality assessments and XBRL tagging. Intelex, for example, has partnered with London-based software analytics vendor Datamaran to incorporate materiality assessment capabilities into its solution. Similarly, vendors such as Novisto and Workiva have already incorporated XBRL tagging into their offerings. This competitiveness in the market and the resulting product developments ultimately benefit corporates at the end of the day.

To learn more about ESG software solutions, read the following reports: Best Practices: Creating An RFP For ESG Reporting And Data Management Software and Smart Innovators: ESG Reporting And Data Management Software.

Jessie Wilson


Jessie is an Analyst in the Verdantix ESG & Sustainability practice. Her current research agenda spans areas such as ESG reporting, the circular economy and supply chain sustainability. Prior to joining Verdantix, Jessie graduated from the University of Bristol with First Class Honours in BSc Geography and French. Her dissertation was on achieving a circular economy for plastics with reusable packaging.