Chicago-based startup ShoppingGives, a social impact e-commerce platform, has announced that it has received investment from Serena Ventures, the venture capital firm launched by tennis champion Serena Williams. Described as a platform that seeks to “democratise cause-marketing”, ShoppingGives makes it possible for retailers to offer their customers to search among more than 1.5 million nonprofits to support a cause of their choice.
Announced on Tuesday (December 8), ShoppingGives has gained the backing of 23-time Grand Slam champion Serena Williams, through her venture capital firm Serena Ventures. Williams says that the startup is “aligned with my values of investing in businesses and entrepreneurs who are making a difference” and offers a “seamless” solution for retailers and brands to become “agents of change in our society”. Details of the funding amount was undisclosed.
This latest funding news comes on the heels of the startup’s earlier seed financing round, which drew in US$5.5 million from a number of strategic investors, including Caffeinated Capital, Tuesday Capital, Red Dog Capital and Big Future Fund among others.
ShoppingGives aligned with my values of investing in businesses and entrepreneurs who are making a difference.Serena Williams
Founded in 2015, ShoppingGives makes it possible for any retailer on all platforms to offer their consumers a way to search and support a cause of their choice. It currently offers a choice of more than 1.5 million registered nonprofits to shoppers, where the retailer will direct a portion of funds with each purchase – all without needing to redirect users to another website.
“Through ShoppingGives technology retailers can integrate cause marketing across marketing channels, and focus on their business while ShoppingGives handles the regulation, reporting, and donations management,” explains the company.
Since its inception, the platform has already donated to over 6,000 charities selected by customers of its partnering brands, which include labels like Kenneth Cole, Huron, White + Warren, Solstice Sunglasses and Fresh Clean Tees.
Now more than ever, consumers are looking for brands to make a stand with their dollars and create a positive impact, and the social impact campaigns create a meaningful connection with customers.ShoppingGives
As e-commerce sales continue to grow – especially amidst the ongoing coronavirus pandemic which has sent online purchases surging globally – solutions like ShoppingGives enables retailers to double-down on their social impact. It also helps brands appeal to the rising cohort of conscious shoppers, mainly Gen Zs and millennials, who are attracted to value-aligned brands.
The startup says that amidst coronavirus, the platform has grown 148% year to date, with over 1,400 retailers now integrated with their technology and has driven average order value increases of 23%.
“Now more than ever, consumers are looking for brands to make a stand with their dollars and create a positive impact, and the social impact campaigns create a meaningful connection with customers,” said ShoppingGives in a statement. “As e-commerce sales continue to trend upwards, brands have an immense opportunity to make an impact through donations to causes.”
Lead image courtesy of Garrett Ellwood / USTA.