Encast Closes $2.25 Million Angel Round for SXSW Launch

Startup's Giving as a Service™ Empowers Grass Roots Philanthropy

Mar 11, 2016, 06:59 ET from Encast

AUSTIN, Texas, March 11, 2016 /PRNewswire/ -- In advance of the SXSW Interactive Conference, Austin startup Encast (www.encast.co) closed an initial angel round of funding totaling $2.25 million. The company's technology delivers cloud-based services to businesses with a platform that increases charitable giving by employees and improves work place cultures. The early money in the product and idea is an indication of market interest in the company's goal of expanding giving by individuals and businesses.

"We are flattered by investor support," said Encast CEO and co-founder Leo Ramirez. "But we are also confident in what we are creating. People want to give and to help others and our WorkHERO platform expands philanthropy to enable all of us to begin giving at any point in our lives and careers. Our technology will create more charitable dollars and they will be shared more equitably by more causes."

The platform, called WorkHERO™, easily connects with payroll systems to provide employees' choices of causes and charities that they want to receive their donations using Encast's Giving as a Service™. Employees can control their payroll deductions for saving to give and select virtually any cause or charity that aligns with their personal interests. The WorkHERO™ system delivers 100 percent of all donations directly to selected charities without charging a processing fee to either the donor or the recipient.

"WorkHERO™ isn't just good for charities and important causes," said Ryan Surber, Chief Strategy Officer and co-founder of Encast. "It's good for business. When your company has giving as part of its culture, you attract top talent, who are more productive because of their work environment, and you create loyal customers."

WorkHERO is a subscription-based platform that charges fees on a per user agreement or offers flat rate pricing that is scaled for numbers of employees.

About: Encast offers a cloud-based application to increase and manage charitable giving by companies, employees, and private individuals. Our Giving as a Service (GaaS™) delivers the Hero platform to offer charitable choices, recommendations, tracking, tax records, and money management to engage givers.

SOURCE Encast



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