CSR and Sustainability Management technology platform, Goodera has secured $5.5 Million (Rs 35 Crore) of Series A funding. The funding round was led by Nexus Venture Partner and Omidyar Networks. The funding round also witnessed former head of operations at Airbnb, Varsha Rao.
Post funding, Naren Gupta, co-founder and MD, Nexus Venture Partners will be joining the board of Goodera.
The Bangalore-Based startup was found in 2014 by Abhishek Humbad and Richa Bajpai. Goodera is a global CSR & Sustainability platform with an innovative cloud, mobile, voice and big data platform, embedded with a strong domain which helps to enable and empower corporate to manage their CSR and sustain goals.
Currently, the startup is co-headquartered in Bangalore and Menlo Park and has over 150 corporates use the platform in over 30 countries. Its clientele includes Amazon.com, Cargill, DELLEMC, Capgemini, and Tata Communications among others.
Co-founder Richa Bajpai said, “CSR activities need to go beyond a quarterly report email with a picture of a poor child to answering real questions, such as where the money was spent and how effectively a program was helping beneficiaries. Through the Goodera platform, the entire CSR lifecycle gets revived, from Excel sheets to automation and from automation to data insights so that corporates can make data-driven decisions.”
The startup claims that more than 150 large enterprises including 24 in Global Fortune 500 have adopted Goodera to effectively measure, manage and report their CSR projects across more than 30 countries. It further boosts that 10% of corporate India’s total CSR spend is managed on Goodera. 200,000 employees globally volunteer using Goodera.
Commenting on the investment, Naren Gupta, co-founder and MD, Nexus Venture Partners said, ” As billions of dollars flow annually through the global ecosystem of social and community good, an innovative technology platform like Goodera enables corporates to measure and optimise their CSR and sustainability goals in a simple, transparent, and engaging manner.” Read more about Indian Startup Ecosystem.