Bengaluru-based CSR and Sustainability Management Platform Goodera has received $5.5 Mn in Series A funding from Nexus Venture Partners and Omidyar Network.
The round also saw participation from Varsha Rao, the former Global Operations Head of Airbnb. As the part of the funding, Naren Gupta, co-founder of Nexus Venture Partners will join the Goodera Board.
“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 optimize their CSR and sustainability goals in a simple, transparent, and engaging manner,” Naren Gupta, co-founder of Nexus Venture Partners said.
Goodera formerly known as NextGen was Launched by Abhishek Humbad and Richa Bajpai in 2014 with an aim to helps companies to manage their sustainability needs. It leverages cloud, mobile, voice and big data platform, embedded with strong domain expertise, to enable, and empower corporates to manage their CSR and sustainability goals – right from strategy development, to on-ground implementation, to reporting and audit across the value chain.
Commenting on the funding 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 programme 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.”
At present, Goodera claims to have over 150 corporates across 30 countries and $150 Mn development capital under its management. Some of the major clients include Amazon.com, Cargill, DELL EMC, Capgemini, and Tata Communications among others.
Just to recall, the company had raised an undisclosed amount of funding from Mumbai Angels and a group of angel investors based in the Silicon Valley and India in February 2015. With the current capital, startup plans to strengthen its product and further expand in India and the US.