Bangalore: Goodera, a global CSR & Sustainability Management technology platform, co-‐headquartered in Bangalore and Menlo Park, today announced its Series A round of funding of $5.5mn from Nexus Venture Partners and Omidyar Network. Varsha Rao, previously Head of Global Operations at Airbnb also participated in this round along with other prominent angels.
Goodera is a CSR Lifecycle Management platform embedded with strong domain expertise, providing corporates automation and intelligence across monitoring and evaluation, impact measurement, grant making, reporting and employee volunteering. Goodera helps solve the critical need for corporates and non-‐profits to have last mile visibility of progress and impact measurement of their CSR projects. It enables effective governance in deciding and managing CSR projects, provide insights through dashboards for different stakeholders and data driven stories of change for powerful communication. Additionally, Goodera enables companies to involve employees in volunteering at scale in an engaging manner while taking away the friction of sourcing volunteering opportunities, coordination and management of activities.
In connection with the funding, Naren Gupta, Co-‐Founder & MD Nexus Venture Partners, has joined the Goodera board. “As billions of dollars flow annually through the global ecosystem of social and community good, an innovative technology platform like Goodera enables corporates to measure and optimize their CSR and sustainability goals in a simple, transparent, and engaging manner. We are thrilled to work with the Goodera team to leverage the company traction in India and the US to a broader group”.
“Corporate boards, institutional funders, and CSR leaders grapple with the critical problems of CSR lifecycle management and impact measurement. Goodera is a path-‐breaking platform that simplifies this value chain and helps funders create and monitor real impact,” said Siddharth Nautiyal, Investment Partner at Omidyar Network, the philanthropic investment firm created by eBay Founder, Pierre Omidyar. “As a technology-‐focused impact investor, we see the potential of Goodera’s solution and understand the fundamental value such tools can play in transforming the CSR and sustainability sectors.”
More than 150 large enterprises including 24 in Global Fortune 500 have adopted Goodera to effectively measure, manage and report their CSR projects across more than 30 countries. 10% of corporate India’s total CSR spend is managed on Goodera. 200,000 employees globally volunteer using Goodera.
“The funds raised through this round will be utilized in enhancing our technology, deepening domain expertise and supporting customer acquisition and experience. Goodera is creating business and social value at scale at the global stage using best in class technology and solving big problems for the CSR ecosystem. We are excited to partner with investors that strongly believe in our mission,” said Abhishek Humbad, Founder and Co-‐CEO at Goodera.
“Goodera empowers every stakeholder in the ecosystem including corporates, foundations, employees, government and NGOs. With the vision to power the world of good, Goodera is our new brand identity (we were previously known as NextGen), which resonates with our objective to become a trusted and a reliable partner for every corporate in the world,” said Richa Bajpai, Founder and Co-‐ CEO at Goodera.
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