Startup GoodWorld Raises $1.65M in Series Seed Round for "#Donate" Technology
Nyca Partners Investment Leads Latest Round of Notable Investors
Washington, DC, July 7, 2015 (Newswire.com) - Financial tech startup GoodWorld, Inc. announced today that it has secured $1.65 million in investment capital to close out a preferred series seed round for its innovative technology that allows social media users to instantly donate to partner non-profits by using a hashtag. The round is a co-investment led by Nyca Partners, with participation from Camp One Ventures, Fenway Summer Ventures and others.
“We are essentially creating an online global community fueled by generosity,” says GoodWorld founder and CEO Dale Nirvani Pfeifer. “Our technology enables donors to engage with and contribute to their favorite causes in a new way, leveraging the power and viral nature of social media as a tool for spreading inspiration and encouraging donations—no matter how big or small.”
Compared to Uber and iTunes by The Washington Post, GoodWorld recently completed a successful closed beta test with several noteworthy charities, including UNICEF, Save the Children and the American Red Cross.
“GoodWorld’s innovation stands out from the crowd,” said Ettore Rossetti, Director of Social Media & Digital Marketing at Save the Children. “The remarkable simplicity and share-ability of ‘#donate’ could be a real difference-maker for us, especially in rapid-response situations like disaster relief.”
Rosetti is not alone in her assessment. “Nobody felt the power of social media more than we did, especially among young people” said Lance Slaughter, Chief of Chapter Relations and Development Officer at the ALS Association, referring to the “Ice Bucket Challenge” phenomena in 2014 that raised over $115 million. “#Donate offers a tremendous opportunity to reach donors who want to give and share instantly inside their social network.”
The company will use the additional funding to fuel growth in the second half of 2015 and plans to make its #donate technology available to a market of over 1.5 million 501(c)(3) organizations in the U.S. alone. By reinventing social media as a fundraising channel, GoodWorld helps non-profits to turn online engagement into real-time, tangible support for a cause—a particularly applicable tool for time-sensitive, urgent issues like natural disasters.
“The ability to transfer money on social media with just a hashtag is revolutionary for the financial technology sector—a space ripe for disruption,” said Managing Director Hans Morris of Nyca. “GoodWorld’s #donate technology is pioneering the future of social ecommerce.”
Chris Liddell, current Chairman of Next Foundation and former CFO at Microsoft and General Motors also participated in the seed round and sees GoodWorld as “an exciting innovation and addition to the world of philanthropy.”
Nyca’s investors include Brian Finn, former president of Credit Suisse First Boston and Osama Bedier, former head of wallet and payments at Google.
About GoodWorld, Inc: GoodWorld, Inc. was launched in 2014 as a platform to enable seamless donations on social media. Donors who complete a one-time registration on the GoodWorld website can give to any partnered charities simply by typing “#donate” in the comment block of a charity’s Facebook page or by tweeting “#donate” at a charity. Founder Dale Nirvani Pfeifer created GoodWorld after a Facebook post about a struggling Afghan educator inspired her to donate, but the difficulty of the process left her frustrated. Other co-founders include attorney Charles McGuire Wien and COO John Gossart, former partner at the Daimler-acquired transportation tech startup Ridescout. Visit www.goodworld.me for more information.
For media inquiries, please contact Lauren Yang at Lauren@goodworld.me.