Good-Loop advertising technology platform accelerates US expansion plans after closing $ 6.1 million (£ 4.5 million) Series A round
Quaestus Capital Management Drives Investments In A Targeted Global Advertising Platform That Converts People’s Attention On Online Ads Into Charitable Donations
LONDON, NEW YORK, EDINBURGH – February 24, 2022 –– Good-Loop – a global advertising technology company that converts people’s attention to ads into giving for good causes – announced today it has closed a $ 6.1 million (£ 4.5 million) Series A round.
The funds will be used to accelerate the company’s product roadmap, including the development of new solutions aimed at reducing the substantial carbon footprint of digital advertising. The company also plans to expand its international teams, including opening new offices in New York and Chicago to serve its growing US markets, which currently account for 33% of total revenue.
The round was led by the New York-based investment fund, Thisus Capital Management (QCM)with additional support from Scottish firmimpact investor SIS VenturesEuropean Fund for Advertising Technology Capital of the first party and the investments raised on the Seedrs crowdfunding platform, bringing the total investment in advertising technology for a good platform to $ 8.2 million (£ 6 million) since it was formed in 2016.
Good-Loop, a B Corporation which runs campaigns in over 18 markets around the world, has a mission to make the connection between brands and consumers more meaningful by providing respectful ads that have a real social impact, while also promoting a significant increase in business and branding for advertisers.
The company’s unique ad formats motivate people to watch an entire ad online by allowing them to “unlock” a free charitable donation at the end of each commercial. This strategy allows advertisers to receive more meaningful brand engagement by appealing to the goodwill of consumers by providing a means of free philanthropy. This results in an average ad recall that is 4.5 times higher than the industry standard. Designated charities receive 50% of advertising revenue. Current customers include Unilever, PepsiCo, Nestlé, Levi’s, adidas, NBC Universal, and Nike.
Good-Loop CEO Amy Williams, who co-founded the company with CTO Daniel Winterstein, said:
“At the heart of our industry is an exchange of intrinsic value between advertiser and consumer, and my mission is to leverage that value as a significant force for good. Through our respectful and positive advertising platform, brands can treat people online as partners, rather than targets, united by a desire to make a meaningful social impact. The support of industry experts such as QCM and FirstPartyCapital, social impact investors and, indeed, the general public will help power our growth by staying true to our values every step of the way. “
Austin Davis, CEO of QCM said:
“Good-Loop takes advertising and conscious business to a whole new level and will become the industry’s fair trade stamp. The business model solves many long-standing problems in the industry and is the paradigm shift needed to regain consumer confidence in transparent and ethical advertising that not only delivers superior results to advertisers, but does so by making a great contribution to the world through philanthropic donations. It is a win for all parties. Ultimately, Good-Loop proves that doing good is really good for business – it’s not a compromise. I am sincerely honored to have led their Serie A and to work with such an exceptional company and team. “
Good-Loop, which has offices in London and Edinburgh, has also launched a suite of solutions to help advertisers measure and offset the carbon cost of their digital advertising campaigns, including Carbon calculator And Green ad tag – a 1 × 1 tracking pixel that allows brands and agencies to track and offset the carbon cost of their digital advertising in real time.
Good-Loop’s demand for programmatic ad solutions has grown 180% in the past 12 months, while its targeted ad formats have now raised over $ 5 million for charities around the world, including Save The Children, WaterAid , Feeding America and the WWF.
NOTES FOR DRAFTING
Rich Ashton, managing partner, FirstPartyCapital She said:
“We are proud to support Good-Loop, which is promoting brand responsibility and driving more transparent processes in the digital advertising industry, all while addressing the huge carbon footprint that the industry is responsible for. We believe Amy and the team will ultimately play a vital role in providing the media execution infrastructure for a cleaner, greener and more reliable adtech ecosystem – a critical step in ensuring that our industry plays a valuable role in the movement against climate change “.
Kerry Sharp, Director of Growth Investments at Scottish Enterprise, She said:
“Scottish Enterprise is delighted to continue to support Good Loop’s growth in Edinburgh with this most recent round of funding which helps its expansion into the United States, develop its advertising for a good technology platform and at the same time reduce its carbon footprint. carbon in the digital advertising industry. It’s great to see a Scottish company innovate in the ethical marketing space on a global stage which in turn will also help other companies improve their Environmental Social and Governance (ESG) credentials and will also provide a valuable boost to many charities as they grow. Good-Loop also grows.
“This investment is in line with the Scottish firm’s zero net framework and national digital expansion program, which focuses on the growth of Scottish digital technology and highlights talent in the Scottish digital economy as Good Loop aims to stop advertising for create a virtuous business model and a more inclusive economy “.
Rob Halliday, Senior Investment Manager, SIS Ventures, She said:
“As one of Good-Loop’s early investors, SIS Ventures has always believed in the company’s potential to deliver significant social impact through its disruptive advertising technology. From the start, progress has been impressive and Good-Loop is now remarkably well positioned for global growth and impact creation. It was a real privilege to share the journey with a first-class team and we are thrilled to be part of the next chapter. “
David Waterhouse, Communications Director
E-mail: [email protected]
Good-Loop is a targeted advertising technology platform that drives ad engagement by converting people’s attention into donations to good causes around the world.
The company, which has offices in London and Edinburgh, has a mission to make the connection between brands and consumers more meaningful by offering respectful ads that bring real social impact, while driving significant business and brand increases for advertisers.
The company has raised over $ 5 million for charities such as Save the Children, WaterAid and GOSH. Customers include Unilever, Nestlé, Levi’s, Bose and H&M.
Quaestus Capital Management (QCM) is a mission-driven, integrity-based private equity and venture capital firm that invests in purpose-oriented ventures across all asset classes. We apply a flexible approach to investing while focusing on renewable energy generation, sustainability and technology-enabled companies that strive to make a positive social impact.
QCM invests in acquisitions, growth stocks and venture opportunities that have commercialized and proven revenue-generating operations, technology and processes, typically Series A and B. We seek to invest where we can add value and provide relevant skills and / or resources for the sector, while creating shared value for our investors and all stakeholders; from the businesses we invest in, to the people we employ and the humanity we collectively serve.
Information on the Scottish enterprise
Scottish firm is Scotland’s National Economic Development Agency. We are committed to growing the Scottish economy for the benefit of all, helping to create quality jobs and a brighter future for every region. Follow us on Twitter at http://twitter.com/scotent And https://twitter.com/ScotEntNews Follow us on LinkedIn at https://www.linkedin.com/company/scottish-enterprise/
FirstPartyCapital is a trader-led VC fund that has quickly become the strategic investor of choice for AdTech, MarTech and digital media businesses at an early stage since launching in December 2020. The company’s investor base includes hundreds of industry insiders. sector, offering portfolio companies privileged access to a wealth of knowledge, skills and business opportunities. For more information please visit: www.firstpartycapital.com
Information on SIS Ventures
SIS Ventures, a wholly owned subsidiary of Social Investment Scotland (SIS), provides the tools and mission-aligned investments needed to help early stage companies grow and make impact at scale. In exchange for the investment, SIS Ventures seeks a mission block, where the organization’s social and / or environmental mission is blocked in the Charter and cannot be changed without consent. Launched in 2018 and authorized by the Financial Conduct Authority, SIS Ventures has already raised and distributed its first Impact First EIS fundraiser of around £ 1.3 million. It is currently investing £ 5 million in Scottish Government funding for subsequent rounds of existing portfolio investment activities, as well as high impact new business opportunities. https://www.sisventures.com/
Good.Loop secures £ 4.5m Series A investment led by Quaestus Capital Management – UK Tech Investment News
Source link Good.Loop secures £ 4.5m Series A investment led by Quaestus Capital Management – UK Tech Investment News