‘Platform for purpose’ to further invest in tech for nonprofits after raising $28mn in funding round
Melanie May | 18 November 2024 | News
Global SaaS and fintech platform Goodstack is to further develop its services for corporates and build its technology stack for nonprofits, having raised $28 million in its Series A funding round.
Led by General Catalyst, with support from existing investors Morpheus Ventures and Repeat (formerly Jigsaw), the funding round follows rapid growth as the company further develops its AI-powered software for charitable giving. Goodstack is also rebranding from Percent to reflect its growth as a technology platform with the mission of building purpose into every business worldwide.
Goodstack provides technology for companies to power their impact programmes, including corporate grants, in-kind product donations, and employee and customer giving, helping businesses, their employees and their customers with a unified platform that also enables nonprofits to get verified in order to access technology and new funding streams from these organisations.
It works with global brands including LinkedIn and Canva, and expects to facilitate donations of over $3bn from them in 2024, more than treble last year’s level, for charities and good causes in more than 215 countries and territories. These include large charities including the Red Cross, Cancer Research, and Oxfam as well as to local fundraising appeals.
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Having grown to 100 people across offices in London, San Francisco and Sydney, Goodstack will use the proceeds of the new funding to further develop services for corporates and build its technology stack for nonprofits, hiring right across its team in 2025.
Henry Ludlam, founder and CEO of Goodstack, said:
“Being purpose-led is baked into our generation. People now expect companies to put purpose at the heart of what they do to make a difference to society. Today this is harder for companies than it should be. Our product makes it easy for businesses to quickly build purpose and giving into their customer, employee and corporate offerings, driving significant consumer, nonprofit and investor value. Meanwhile nonprofits are behind the private sector in terms of the technologies they are using to catalyse their purpose. We aim to be the “Stripe for philanthropy” and our mission is to deliver the world’s best technology & funding to them as quickly as possible.”
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.