Good-Loop – a global ad tech company that converts people’s attention to ads into donations to good causes – has closed a Series A round of USD6.1 million.
The round was led by New York-based investment fund, Quaestus Capital Management (QCM), with additional backing from Scottish Enterprise, impact investor SIS Ventures, European ad tech fund First Party Capital and investment raised on the crowdfunding platform Seedrs – bringing total investment into the ad tech for good platform to USD8.2 million since it was formed in 2016.
The funds will be used to accelerate the company’s product roadmap, including the development of new solutions aimed at reducing digital advertising’s substantial carbon footprint. Designated charities receive 50 per cent of ad revenue. Current clients include Unilever, PepsiCo, Nestlé, Levi’s, adidas, NBC Universal and Nike.
Demand for Good-Loop’s ad programmatic solutions has grown 180 per cent in the last 12 months, while its purpose-powered ad formats have also now raised more than USD5 million for charities around the world, including Save The Children, WaterAid, Feeding America and the WWF.
