ShoppingGives, A Social Impact Commerce Platform Announces Series Seed Financing Led By Caffeinated Capital
ShoppingGives, the Social Impact Commerce platform that offers turn-key social impact and donation processing for retailers announced that Caffeinated Capital has led a $5.5M Series Seed for the company to expand its growth. Other investors include Tuesday Capital, SciFi VC, Background Capital, Red Dog Capital, 20VC, Global Founders Capital, Big Future Fund, Rogue Capital, Night Capital, Manresa Ventures, Sugar Capital, among other strategic investors in the eCommerce and fintech space to round out the $5.5M Series Seed investment.
“At a time when we are seeing unprecedented eCommerce growth due to the impact of COVID, with a society that is compelled to create change – we see the intersection of impact and commerce as one with infinite opportunity. As customers align with brands that make statements and stand with these brands as change agents to our society, ShoppingGives is the platform to enable this,” said Raymond Tonsing, Founder & Managing Partner at Caffeinated Capital.
ShoppingGives helps retailers of all sizes increase Customer Loyalty and Lifetime Value by providing a seamless giving experience during their shopping journey, enabling the customer to support their favorite causes creating a donation funded by the retailer with each purchase. Through ShoppingGives technology retailers can integrate cause marketing across marketing channels, and focus on their business while ShoppingGives handles the regulation, reporting, and donations management.
“ShoppingGives believes that being charitable and giving back is vital for retailers and brands to be successful now more than ever—especially since customers are paying close attention and holding brands accountable for their actions. Customers these days want to support companies that contribute in a positive way to their communities,” said ShoppingGives Founder Ronny Sage. “We enable the retailers to engage their shoppers on an authentic and emotional level – by doing good – taking a cross-channel marketing approach to social impact.”
ShoppingGives is the only technology that retailers can enable their customers to search and support their cause of choice from over 1.5M nonprofits during the customer journey, without leaving the retailers website. This unlocks invaluable data for retailers that enables them to engage and target their shoppers directly based on consumer cause segmentation and affinities. ShoppingGives additionally is the only donation app recommended by Shopify under the “Launching Your Store” category on the Shopify App marketplace for eCommerce merchants. In addition, ShoppingGives offer integrations with all leading eCommerce content management systems and are one of many partners for the PayPal Giving Fund.
Amidst COVID, ShoppingGives has grown over 148% year to date, with over 1,400 retailers integrated with their eCommerce technology, donating to over 6,000 individual non-profit organizations selected by end customers, and driving growth for retailers resulting in conversion rate increases of 19%, average order value increases of 23%, and lifetime value increases of 18%.
“Social impact is no longer a ‘nice to have’ but rather a requirement for success” says Tina Bou-Saba, Founder, Big Future Fund. “To thrive in DTC and e-commerce business amongst impact-focused generations, brands and retailers need to contribute to measurable change. ShoppingGives has created a powerful solution at the intersection of social impact and commerce, enabling companies to build profitable relationships with purpose-driven shoppers, while ultimately doing good and making a positive change.”
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