Total amount raised
$27.6 Millions
Latest funding date
11/01/2022
Location
Goodera has successfully raised funds through multiple rounds, with its most recent being a Series A round. The platform is dedicated to connecting corporate volunteers with nonprofit needs globally, offering a range of solutions for CSR leaders, ERGs, and HR/People Operations.
With backing from investors like Omidyar Network India and Zoom Ventures, Goodera continues to expand its impact. Keep reading to explore the intricacies of Goodera's fundraising journey and the investors supporting this innovative platform.
What Is Goodera?
Goodera, founded in 2014 by Abhishek Humbad and Richa Bajpai, operates in the industries of events, human resources, social impact, software, and sustainability. The company is headquartered in Salt Lake City, Utah, with additional locations in Menlo Park, CA, and Bengaluru, IN.
With an employee count ranging from 101 to 250, Goodera specializes in corporate volunteering and employee engagement for social impact. The platform connects employees with thousands of nonprofits globally, offering services like corporate volunteering programs, customized event booking portals, and impact consulting.
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 kickstart the company's operations and develop its initial platform.
- Series A
- Amount Raised: $5.5M
- 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 its reach to more nonprofits and corporate clients.
- Series B
- Amount Raised: ₹790M
- Date: March 2018
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and technology, enhancing the platform's features and user experience.
- Series A
- Amount Raised: $10M
- Date: November 2022
- Lead Investors: Omidyar Network India, Zoom Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team, technology, and activity catalog, aiming to serve over 100 million employees by 2025.
Total Amount Raised: $15.5M + ₹790M
Current Valuation: Not publicly disclosed
Key Investors
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm that supports innovative organizations aiming to create social good.
- Investment Focus Areas: Digital identity, education, emerging tech, financial inclusion, governance & citizen engagement.
- Notable Investments: 1mg, Aspiring Minds, Quikr.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, consumer services, healthcare, financial services.
- Notable Investments: Delhivery, Druva, Unacademy.
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage and growth-stage companies.
- 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.
- Investment Focus Areas: Technology, innovation, video conferencing.
- Notable Investments: This is their first investment in India.
- Binny Bansal
- Details: Binny Bansal is the co-founder of Flipkart and an active investor in various startups.
- Investment Focus Areas: Technology startups, innovative business models.
- Notable Investments: Ather Energy, SigTuple, GreyOrange.
What's Next for Goodera?
Goodera stands at the cusp of significant growth, driven by the increasing emphasis on corporate social responsibility and employee engagement. The platform's ability to offer remote volunteer activities aligns perfectly with the current trend towards flexible work arrangements. With a goal to serve over 100 million employees by 2025, the opportunities for expansion are vast, particularly as more corporations seek to enhance their social impact.
Future fundraising efforts will likely be essential to support this ambitious growth. As Goodera scales its operations and technology, additional funding rounds could provide the necessary resources to expand its activity catalog and reach new markets. Strategic partnerships with large corporations and CSR-focused organizations may also open new avenues for investment.
However, Goodera will face challenges such as maintaining the quality of its volunteer activities and navigating diverse regulatory environments. Competition from other platforms offering similar services will also be a hurdle. Despite these challenges, the company's strong investor backing and clear growth strategy position it well for future success.
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