Util announced a seed round backed by Eldridge.

Util, a London, UK-based SAAS developer of a tool measuring the social and environmental impact of companies and investment portfolios, announced that it completed a seed funding round.

The money was raised from investors led by Eldridge, with participation from Oxford Sciences Enterprises, Cris Conde (former CEO of Sungard Bank), Andy Brown (former CTO of UBS), and Roseann Palmieri (former Head of Enterprise Data Management at Bloomberg LP).

Util, founded in 2017 by CEO Abdel Wahab Turkmani and Stephen Barnett, developed a software tool that uses machine-learning models in order to measure patterns at scale and without bias, revealing the degree to which more than 50,000 companies of different sizes, sectors, and regions—and the capital tracking them— perform against the 17 goals outlined in the UN’s 2030 Agenda for Sustainable Development, as well as over 2,000 additional sustainability themes