eGood Raises $3M Seed Round to Expand Mobile & In-Store Social Giving Platform
Tech startup offers check-in for charity and customer loyalty program to businesses
GLENDORA, Calif., Sept. 3, 2013 /PRNewswire/ -- eGood, a mobile platform that empowers consumers and businesses to give back to charities in their community through purchasing power, has raised $3M in Angel Funding from global serial investor Wolfgang Buehler, an entrepreneur and eGood board member who has led and participated in a number of successful multi-million-dollar exits.
"With today's emerging technology, social good is something every business can achieve," said Buehler. "eGood brings capitalism and activism together in an effective way that creates a win-win situation for everyone involved, and is leading the charge in an important and growing market."
eGood's seed funding has been used to continue developing their current mobile and in-store check-in for charity platform, and expand their presence in the Southern California region, as well as other parts of the U.S. The company is launching and celebrating its first Los Angeles-proper partnership with Venice's Hama Sushi on September 16.
Establishments that partner with eGood are able to make donations of one, three, or five percent of customer transactions to charities of their choice. The company will soon be testing its fundraiser application, designed to enable businesses to contribute 10, 20, or 30 percent to beneficiaries.
"We want all businesses to choose good in some fashion," said Zack Swire, CEO and one of the founders of eGood. "So, we provide a simple way for any business, big or small, to choose to support a good cause as part of its daily operations. It's not done in way that burdens the company. Instead, it's a way to build true loyalty, to treat customers better, and to bring more profit to the business through purpose."
Purpose is proving to be at the forefront of purchases made at eGood's first test partner, Classic Coffee, located in Glendora, CA. Within six months, the coffee business has had 5,900 check-ins for charity. In comparison, the same business has had 1,776 Foursquare check-ins since 2011—the average check-ins per day with eGood being 25 times higher.
The eGood team is presenting at TechCrunch Disrupt's Startup Alley, September 9-11.
eGood is a global platform and movement cultivated to connect communities, companies, and causes for the benefit of all. Through eGood's social giving technology, consumers and businesses are empowered to contribute to charities, and track the positive impact they're having on the world. Headquartered in Glendora, CA, eGood was founded by Zack Swire and Sven Simon to prove how ordinary actions can create extraordinary change. For more information or to sign up, visit www.egood.com.
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