London tech platform closes £4.5m funding round for good causes

A London ad tech company that converts people’s attention to ads into donations for good causes, has closed a £4.5m Series A funding round.

Good-Loop will use the funds to expand its international teams, including opening new offices in New York and Chicago to serve its growing US markets that currently comprise 33 per cent of total revenue.

The company also plan to accelerate the company’s product roadmap, including the development of new solutions aimed at reducing digital advertising’s substantial carbon footprint.

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.

Good-Loop, a B Corporation that runs campaigns in over 18 markets around the world, is on a mission to make the connection between brands and consumers more meaningful by delivering respectful ads that have real social impact – while also driving significant business and brand uplift for advertisers.

Amy Williams, co-founder and CEO, Good-Loop, 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 commented: “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.”

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 $5m for charities around the world, including Save The Children, WaterAid, Feeding America and the WWF.

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