Impact Assessment Startup Proof of Impact Raises $6 Million
ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. and impact data intelligence platform Proof of Impact (POI) announced today that it has raised $6 million in a Pre-Series A funding round.
Founded in 2019, POI’s digital platform collects, verifies and visualizes ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. and impact data, providing granular insights and contextual analysis, aimed at enabling investors and companies assess their impact and ESG-related progress, and link verified impact to financial performance. The platform currently operates in over 30 industries.
Proceeds from the funding will go toward accelerating POI’s go-to-market efforts focused on private credit and private equity fund managers, expanding its impact-linked finance solutions, and further extending its core product offering by including blockchain-based innovations.
In a socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. media post announcing the deal, Proof of Impact Co-Founder Kevin Dean Pettit said:
“We want to empower the world to make more impactful, sustainable, and regenerative decisions. We believe that creating a system for accessible, authentic, and actionable socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. and environmentalEnvironmental criteria consider how a company performs as a steward of nature. data will result in impact intelligence, which will be the largest force multiplier for meaningful change in the world.”
The financing round was oversubscribed and expanded from an initial $5 million goal. The round was led by Rakuten Capital, with participation from a global suite of investors including the Franklin Templeton Blockchain Fund, Five T, Blockrocket VC and Advaita Capital, as well as existing investors Franklin Templeton Advisors, CV VC, Working Capital Fund, Asiri and Oxford Angel Fund.
Oskar Mielczarek de la Miel, Managing Partner at Rakuten Capital, said:
“Proof of Impact’s strategy of empowering businesses to measure and improve their impact on the environment and society is consistent with Rakuten Group’s mission and sustainability goals. We were impressed with the company’s data-driven products and the management team’s demonstrated ability to rapidly grow their customer base. We look forward to working with them on the next stage of their growth.”
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