Good-Loop is an ethical video platform working with companies such as Nestlé, Unilever, Coca-Cola, TOMS, H&M and Amazon, helping them to tap into programmatic technology to deliver brand purpose at scale. Good-Loop’s proprietary platform rewards viewers of online video ads by donating on their behalf to a chosen charity. 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%.
Coming just months after The Business Roundtable announcement, in which the heads of more than 180 US companies agreed to give social responsibility as much emphasis as financial performance, the investment in Good-Loop underlines growing business interest in the many ways that purpose and social good can help a business to thrive today.
Good-Loop will invest the funds in growing its commercial team in Europe and the US. The company intends to raise a Series A round in Q1 2021 which will be used to fund the US expansion – the US accounts for 30% of the global ad market currently.
Other Investors in the round include New York-based investment firm Quaestus Capital Management, SIS Ventures, MarTech angel group, Galvanise Capital, and the Scottish Investment Bank, the investment arm of Scottish Enterprise.
Kerry Sharp, Director, Scottish Investment Bank, commented: “Good-Loop is the latest great example of an idea rooted in Scotland being embraced across the globe. The mission and values of this Edinburgh-based business, centred on being a positive force, aligns with Scottish Enterprise and the Scottish Investment Bank’s aims of building a better, fairer future for all. We’re excited to see how Good-Loop continues to grow with the support of You & Mr Jones and the rest of our investment partners.”
Amy Williams, Co-founder and CEO of Good-Loop, commented, “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.”
To date, Good-Loop has raised over half a million pounds for charities around the world and is on track to its target of £2m by 2021.