Allianz X leads $20m funding round in ESG data provider Arabesque S-Ray

Germany-based Allianz Group's digital investment unit Allianz X has led the Series A funding round of environmental, social, and governance (ESG) data provider Arabesque S-Ray, which uses big data and machine learning technology to assess the sustainability performance of companies.

Allianz X, Commerz Real, DWS, and Land Hessen have jointly invested $20 million in Arabesque's latest funding round.

The new strategic partnerships will allow Arabesque to enhance its client relationships and expand its business by developing new ESG data products and services to meet growing global demand for sustainability information. This will include S-Ray Real Estate, an AI-based tool for evaluating the sustainability of real estate objects. The technology will use traditional data sources on an asset-level, together with new emerging digital sources from Internet of Things (IoT) sensors and devices within buildings.

“Sustainability assessments are becoming increasingly important for making informed investment decisions, including our own. We believe in an accelerated growth trajectory for Arabesque S-Ray due to its strong position in the growing ESG data and consulting market, and superior tech capabilities,” said Nazim Cetin, CEO of Allianz X.

Cetin added: “Allianz’s commitment to environmental, social, and governance issues means we integrate ESG into our core business decisions. Our performance in the Dow Jones Sustainability Index reflects this, with Allianz topping the list as the most sustainable insurer in 2018 for a second consecutive year.”

Andreas Feiner, CEO of Arabesque S-Ray, said: “The demand for ESG data and services is increasing exponentially. Our partnership with three of the leading financial institutions in Germany, together with the state of Hessen – with its focus on sustainability and technology – will enable us to meet this global demand from Frankfurt.”

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