At GoodWorld we have developed a social payments platform that is changing philanthropy, and beyond that one we believe will contribute to changing the way people pay for things in general. I’ve attached a deck that provides an overview, but to put it simply: we enable anyone to make instant, seamless, secure and potentially viral donations on social media with a hashtag—#donate.
By way of introduction, I am Cofounder and COO, a veteran who served 22 years, and a second-time entrepreneur (my first startup, RideScout, was acquired by Daimler-Mercedes in 2014). CEO Dale Pfeifer is a New Zealand native who came from academia and philanthropy, most recently for Rockefeller. We have launched GoodWorld initially in the $373bb / yr charitable giving space, and our technology has obvious and interesting applications in political donations, university contributions, peer-to-peer fundraising, and of course, eCommerce.
Since coming out of beta last May, we have engineered a scalable, secure platform and have secured partnerships with over 2,500 charities including some of the world’s biggest (United Way, Save the Children, UNICEF, PETA and Greenpeace, Oxfam, USO, etc).
Here are some examples of how our live tech on Social Media and websites/blogs:
Web / Mobile: (2 click donation function) http://www.vs-cancer.org/
Celebrity Activations: American Authors
In May GoodWorld was named as one of Fast Company’s 2016 World’s Most Innovative Companies alongside Facebook, Warby Parker and Toms. Last year we earned “Best DC Tech Startup" at Tech in Motion's TIMMY Awards at Capital One Headquarters, joining other Best Tech winners Trip Advisor, Venmo, Instacart and Contactually.
Our numbers are growing in all categories, and thus far has been almost entirely organic. We’ve had 300% user growth achieved since coming out of beta last May, and are maintaining a ~26% CAGR month to month in donations, revenue and wallets (donors) for 2016. We have processed over $1.5M in donations from more than 50k #donate pledges by over 30k unique donors, and 25% of our users are repeat donors. Our net revenue so far is over $2.90 per customer and growing. Perhaps most interesting, our conversion rates are above above 64% on Facebook.
We are very optimistic from a growth perspective about several ongoing partnership discussions for early 17 with very large NPs (Compassion International, Penn State, American Heart Assoc), tier 1 media orgs (GoFundMe, Facebook, PBS, Viacom) and potential strategic investment partners (Salesforce Ventures).
18 months ago we raised a preferred series seed round ($1.6M on a $4M pre money) with 3 fintech VCs (Nyca, Fenway Summer and Camp One Ventures) and with that built the team and launched the product. We are now raising a late seed round to scale—hire a growth team, enhance the product, and significantly expand the marketing effort. The current raise is ~$1.5M on a convertible note (20% discount, $6M cap, 2X Liquidation Preference). We are also partnered with DC Innovation Investment Program that will match any investment We receive up to $1M and incentivize the investor with a 25% carry. I’ve attached both of the term sheets for your reference.
Please find a link to our data room HERE . There is a Diligence Checklist in the main folder HERE that serves as a key or legend (for each point of diligence it tells you in which subfolder you will find the corresponding documents). We hope this makes your process easier. Please don’t hesitate to reach out if I can send you any additional material or answer any questions.
The deal room contains the term sheet as well as the most current deck. Thanks again, look forward to discussing.
Cofounder and COO
Named one of Fast Company World's Most Innovative Companies in the Social Good Category alongside Facebook, Toms & Warby ParkerJuly, 2016
Named Washington DC's Best Tech Startup 2015 at the Capital One Timmy AwardsJuly, 2016
Winner of 50 On Fire, a collection of companies, CEOs, startups and entrepreneurs that are driving the innovation economy.July, 2016
$1,500,000 Donations through GoodWorld. 24.3% MoM CAGR, resulting in $2.90 net revenue per donorJuly, 2016
2,450 strategic & charity partnerships including National Geographic, the Crown Royal, PBS, UNICEF, United World Way & USOJuly, 2016
D.C. Department of Securities, Insurance & Banking committed to match up to $975k of money raised on our syndicateJuly, 2016
Out of BetaMay, 2015