Goodera has raised $5.5 million to help corporations manage their social-responsibility efforts. Goodera was started in 2014 to hold corporate social responsibility initiatives accountable to impact claims.
The Menlo Park, Calif. and Bangalore-based platform was backed by Omidyar Network, Nexus Venture Partners, and Varsha Rao, Airbnb’s former head of operations. “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,“ said Goodera’s Richa Bajpai.
Goodera’s software helps companies automate monitoring and impact assessment, facilitate grants to partners, and engage employees in volunteering opportunities.
So far it has signed up 150 companies, 24 of which are Fortune 500 companies. Goodera’s clients represent 10% of the CSR spend in India, where firms are required to give 2% of profits to charity.