- Good-Loop, an ethical video platform company, announced it raised $1.6 million in a seed round of funding
Good-Loop, an ethical video platform company, announced it has closed $1.6 million in a seed round of funding from You & Mr Jones. You & Mr Jones is a brand technology group company founded by former Havas chief executive David Jones.
This round of funding comes months after The Business Roundtable announcement where the heads of over 180 US companies agreed to give social responsibility as much emphasis as financial performance. And the latest investment in Good-Loop underlines growing business interest in the many ways that purpose and social good can help a business to thrive today.
Some of Good-Loop’s clients include Nestlé, Unilever, Coca-Cola, TOMS, H&M, and Amazon. And Good-Loop helps these customers tap into programmatic technology to deliver brand purpose at scale. Essentially, Good-Loop’s proprietary platform rewards viewers of online video ads by donating on their behalf to a chosen charity. And it converts every view, swipe, and click into funding for charities with half of the media spend going to important causes whilst boosting video performance and increasing recall by up to 45%.
“This round of funding will help Good-Loop to further our mission of connecting people, brands and good causes around the world. Bringing You and Mr Jones and our other investors into the business at this stage will add a huge amount of value above and beyond cash as we prepare to scale up our operations. With industry luminaries like David Jones supporting us, we’ll be well-positioned to deliver innovative marketing technology, industry-leading social insight and truly impactful brand purpose,” said Amy Williams, co-founder and CEO of Good-Loop.
And with this round of funding, Good-Loop is going to grow its commercial team in Europe and the US. Plus the company is planning to raise a Series A round of funding in Q1 2021 — which will be used for funding the US expansion.
The other investors in this round include Quaestus Capital Management, SIS Ventures, Galvanise Capital, and the Scottish Investment Bank. To date, Good-Loop has raised over half a million pounds for charities around the world and the company is on track to its target of £2 million by 2021.
“We’ve built the number one group of technology and technology-enabled companies in the marketing space to enable better, faster and cheaper marketing. Good-Loop fits seamlessly into this ecosystem and also with our strong belief that technology can and should be a force for good in the world,” added Emma Cookson, partner of You & Mr Jones.