Total amount raised
$27.6 Million
Latest funding date
11/01/2022
Location
Goodera has raised funding over four rounds, with the latest being a Series A round involving seven investors. The company is backed by notable investors, including Omidyar Network India and Zoom Ventures.
Goodera's platform connects companies with a global network of nonprofits to facilitate impactful corporate volunteering programs. Keep reading to explore the intricacies of Goodera's fundraising journey and the investors backing this innovative platform.
What Is Goodera?
Goodera is a company that specializes in organizing and managing corporate volunteering programs. It operates in various industries, including events, human resources, social impact, software, and sustainability. The company is based in Salt Lake City, Utah, United States, and has additional locations in Menlo Park, CA, USA, Bengaluru, IN, India, and Barcelona, ES, Spain.
Founded to enable companies to engage their employees in volunteering with thousands of nonprofits worldwide, Goodera has a workforce of 101-250 employees. The company offers a variety of volunteering opportunities, including in-person, virtual, and hybrid experiences, and aims to make social impact accessible to every team on the planet.
How Much Funding Has Goodera Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial platform for corporate volunteering.
- Series A Round
- Amount Raised: USD 5,500,000
- Date: June 2017
- Lead Investors: Nexus Venture Partners, Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase the number of corporate clients.
- Series B Round
- Amount Raised: INR 790,000,000 (approximately USD 10,000,000)
- Date: March 2018
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features to support a larger user base.
- Series A Round
- Amount Raised: USD 10,000,000
- Date: November 2022
- Lead Investors: Elevation Capital, Zoom Ventures, Xto10X, Nexus Venture Partners, Omidyar Network
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team, technology, and activity catalog, and to expand the platform's reach globally.
Goodera has raised a total of USD 25,500,000 in funding. The current valuation is Not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage and growth-stage companies. They have been a lead investor in Goodera's Series A round.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Swiggy, Paytm, UrbanClap
- Zoom Ventures
- Details: Zoom Ventures is the investment arm of Zoom, focusing on strategic investments that align with Zoom's business. This was their first investment in India.
- Investment Focus Areas: Technology, innovation, communication tools
- Notable Investments: Various technology startups enhancing communication and remote work
- Xto10X
- Details: Xto10X is a growth-stage advisory and investment firm co-founded by Binny Bansal, focusing on scaling startups. They participated in Goodera's Series A round.
- Investment Focus Areas: Scaling startups, technology, growth-stage companies
- Notable Investments: Various growth-stage technology companies
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies across various sectors. They have been involved in multiple funding rounds for Goodera.
- Investment Focus Areas: Technology, consumer, enterprise
- Notable Investments: Postman, Delhivery, Druva
- Omidyar Network
- Details: Omidyar Network is a philanthropic investment firm founded by eBay founder Pierre Omidyar. They focus on supporting innovative organizations addressing social, economic, and political issues.
- Investment Focus Areas: Social impact, economic empowerment, political transformation
- Notable Investments: Khan Academy, Teach For America, Change.org
What's Next for Goodera?
Goodera stands at the cusp of significant growth opportunities, driven by the increasing corporate focus on social responsibility and employee engagement. With a goal to reach 100 million employees by 2025, the company plans to scale its operations, expand its client base, and enhance its platform capabilities. This ambitious target is supported by a robust network of over 50,000 non-profits and 400 corporate clients, including major brands like IBM and Amazon.
Future fundraising rounds are likely as Goodera aims to support its expansive growth plans. The company may attract more strategic investors aligned with its mission of corporate social responsibility. However, challenges such as managing the logistics of a rapidly growing number of volunteer activities and ensuring the quality of these programs across diverse regions and languages remain. Navigating these hurdles will be crucial for Goodera as it continues to scale and innovate in the corporate volunteering space.
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