Blackstone-backed sustainability and operational risk management software platform Sphera has announced a significant growth investment from Neuberger Berman Capital Solutions (NBCS). While the terms of the transaction remain undisclosed, Blackstone private equity funds will maintain a majority stake in Sphera.
According to Sphera, the new investment aims to support the company’s next phase of growth. Paul Marushka, founding CEO and President, stated that the investment will enable the company to “accelerate innovation, expand our global reach and continue empowering organisations to navigate complexity and drive sustainable performance.”
Marushka further expressed enthusiasm about the new partnership, saying, “We’re delighted to welcome Neuberger Berman Capital Solutions as a strategic partner alongside Blackstone. The additional support is a strong endorsement of our vision, our team and the value we’re delivering to our customers every day in helping them manage sustainability and operational risks.”
Founded in 2016, Sphera provides software, data, and consulting services aimed at enabling organisations to proactively manage their performance and achieve their enterprise sustainability goals. The company offers software solutions and services across areas including Environment, Health, Safety & Sustainability (EHS&S), Life Cycle Assessment (LCA), Process Safety Management (PSM), Product Stewardship, Supply Chain Transparency, and Sustainability Consulting.
David Lyon, Head of Neuberger Berman Capital Solutions, commented, “Sphera has long stood out as a differentiated, industry-leading company providing critical operational risk software and solutions with demand that is supported by long-term trends, and driven by an exceptional management team that is executing with discipline and consistency.”
Sphera was acquired in 2021 by Blackstone in a transaction valuing the company at $1.4 billion. The company currently serves over 8,500 customers and one million users across 100 countries.
Eli Nagler, Senior Managing Director, and Kelly Wannop, Managing Director at Blackstone, remarked, “Sphera has achieved impressive growth and product innovation during our investment, cementing its industry-leading position. We are very pleased to continue our partnership, together with the management team and Neuberger Berman, in support of the company’s continued expansion and development of innovative solutions for its customers moving forward.”
