Good-Loop, a New York-, London, UK- and Edinburgh, Scotland, UK-based tech company that converts people’s attention to ads into donations to good causes, raised $6.1M in Series A funding.
The round, which brought total funding to $8.2M (£6m) since 2016, was led by Quaestus Capital Management (QCM), with participation from Scottish Enterprise, SIS Ventures, First Party Capital and investment raised on the crowdfunding platform Seedrs.
The company intends to use the funds to accelerate its product roadmap, including the development of new solutions aimed at reducing digital advertising’s substantial carbon footprint, expand its international teams, including opening new offices in New York and Chicago to serve its US markets that currently comprise 33% of total revenue.
Led by CEO Amy Williams, Good-Loop is an ad tech platform that drives ad engagement by converting people’s attention into donations to good causes around the world. The company’s ad formats motivate people to watch an entire ad online by allowing them to ‘unlock’ a free charitable donation at the end of each spot. This strategy allows advertisers to receive more meaningful brand engagement, while appealing to consumers’ goodwill by providing a cost-free means of philanthropy. Current clients include Unilever, PepsiCo, Nestlé, Levi’s, adidas, NBC Universal and Nike.
Good-Loop has also launched a suite of solutions to help advertisers measure and offset the carbon cost of their digital ad campaigns, including its Carbon-Calculator and Green Ad Tag – a 1×1 tracking pixel that enables brands and agencies to track and offset the carbon cost of their digital advertising in real time.
The B Corporation runs campaigns in over 18 markets around the world.
FinSMEs
25/02/2022