International expansion plans
Now, Good-Loop has announced that it has closed $6.1M in a Series A funding round. The financing round was led by a York-based investment fund, Quaestus Capital Management (QCM). Also, the round saw additional backing from Scottish Enterprise, impact investor SIS Ventures, European ad tech fund First Party Capital and investment raised on the crowdfunding platform Seedrs. With this, the total investment raised so far by the ad tech for good platform accounts for $8.2M.
Good-Loop will deploy the proceeds of this round to accelerate the company’s product roadmap, including the development of new solutions aimed at reducing digital advertising’s substantial carbon footprint. Also, it plans to expand its international teams, including opening new offices in New York and Chicago to serve its growing US markets that currently comprise 33% of total revenue.
Good-Loop CEO Amy Williams said: “At the heart of our industry is an inherent value exchange between advertiser and consumer, and I’m on a mission to harness that value as a significant force for good. Through our respectful, positive ad platform, brands can treat people online as partners — rather than targets — united by a desire to have a meaningful social impact. Backing from industry experts like QCM and FirstPartyCapital, social impact investors and, indeed, the general public, will help to supercharge our growth whilst keeping us true to our values at every step along the way.”
Austin Davis, CEO at QCM said: “Good-Loop elevates advertising and conscious-minded business to an entirely new level and will become the industry Fairtrade Stamp. The business model solves many longstanding issues in the sector and is the paradigm shift that has been needed to regain consumer trust in transparent and ethical advertising that not only provides superior results to advertisers, but does it while making great contributions to the world through philanthropic giving. It is a win-win for all parties. Ultimately, Good-Loop proves doing good is truly good for business – it is not a trade-off. I’m genuinely honored to have led their Series A, and to be working with such an exceptional company and team.”
Purpose-powered ad tech platform
Founded in 2016 by Amy Williams alongside Daniel Winterstein, Good-Loop drives ad engagement by converting people’s attention into donations. These will be used to good causes worldwide.
The B Corporation runs campaigns in over 18 markets worldwide. It is on a mission to make the connection between brands and consumers more meaningful by delivering respectful ads that have a real social impact. Also, it drives significant business and brand uplift for advertisers.
Through Good-Loop, people can choose to engage with a brand, unlock a free donation, and choose which of the charity partners they like to support. So brands can do some good in the world while delivering better ad performance and building brand love. It distributes ethical advertising to millions of people every month in premium placements across the world’s best publishers and social platforms. With its unique strategy, it results in an average ad recall, which is 4.5x higher than the industry standard.
Good-Loop has offices in London and Edinburgh and has launched a suite of solutions to help advertisers measure and offset the carbon cost of their digital ad campaigns, including its Carbon-Calculator and Green Ad Tag. This enables brands and agencies to track and offset the carbon cost of their digital advertising in real-time.
Good-Loop’s client base!
Designated charities receive 50% of ad revenue. Its current clients include Unilever, PepsiCo, Nestlé, Levi’s, adidas, NBC Universal and Nike. Good-Loop’s ad programmatic solutions have gained traction and the demand for the same has grown by 180% in the last 12 months.
Its purpose-powered ad formats have raised more than $5 million for charities around the world, including Save The Children, WaterAid, Feeding America and the WWF.