Gloo, a leading technology platform dedicated to connecting the faith ecosystem, announced the completion of a $110 million financing. This new financing will accelerate the Gloo platform’s development—including free and premium ministry tools and marketplace offerings—while also funneling new capital toward ministry-based technology, products, and services.
This investment aligns with goals to expand the Discover marketplace on Gloo, which offers the faith community a comprehensive range of free and premium products and services that meet ministry leaders’ specific and ongoing needs.
The company is also investing in accelerating AI tailored to the faith ecosystem. And with a potential AI market size reaching into the trillions within the next decade, Gloo recognizes the growing need faith leaders will have to leverage the technology responsibly. Through its AI & the Church Initiative, upcoming AI hackathon, and other ventures, Gloo became a leading voice in the responsible and innovative use of AI for the faith ecosystem.
Earlier this year, Gloo launched a new division called Gloo Ventures, which focuses on investments in and acquisitions of organizations that bring value to the faith community. This division will include investments in AI-based tools to help church leaders leverage technology responsibly.
Gloo closed this latest funding round in the first half of this year, which included investments from a diverse group of mission-aligned partners including a leading partner in small group content, a major global child development ministry, a major denominational provider of financial services and one of the largest providers of church building and development loans. This approach aligns with Beck’s long-term vision that mission-aligned partners and the big C Church, would be significant owners in the platform.
KEY QUOTES:
“So often faith-aligned capital leaves the faith ecosystem. That means ministries that need the goods, services, and capital to fuel their growth don’t have access to essential resources. Our goal with this investment round, funded by 100% mission-aligned investors, is to reinvest the capital back into the ecosystem in the form of capital investments and continued development of our growing platform that connects the faith community at scale.”
“It’s clear to us that the faith community is seeking greater connection. The Gloo platform is already enabling those connections in a variety of ways including enabling over 25 million text-based ministry interactions, connecting over 400K people in need to local ministries and resources, and enabling the exchange of value between thousands of ministry equipping partners and over 70K Gloo churches. No single person, ministry, or church could do this on their own. We’re seeing silos breaking down and collective might at work.”
“We choose our investors carefully. Finding close missional alignment, driving great financial outcomes, and guarding against mission drift are key drivers for us. Ultimately, our commitment is to connect the faith community, so every ministry can achieve its mission,” said Beck, “We’re committed. We’re resourced. And we’ve never been in a better position to achieve this goal.”
– Scott Beck, Gloo CEO and co-founder
“Gloo is accelerating our investment in marketplace motions to create uniquely curated experiences tailored to the faith ecosystem. Investing in a marketplace is not just about enhancing our platform; it’s about empowering our users with the tools and resources they need to make a positive impact in their communities.”
– John Fowle, chief financial officer at Gloo
