Goodera, the Menlo Park and Bangalore-based CSR and sustainability management platform have raised ₹79 Cr funding in a Series B round. The existing investors Nexus Venture Partners and Omidyar Network are leading this round. Saif Partners also participated in this funding round.
Founded in 2014 by Abhishek Humbad and Richa Bajpai, Goodera provides last mile visibility, monitoring, evaluation and impact measurement of CSR projects to corporates and non-profits.
Earlier Goodera had raised ₹38.3 Cr in a Series A round from Nexus Ventures and Omidyar network. Set of notable angel investors that included Varsha Rao (former Head of Global Operations at Airbnb), Kalyan Krishnamurthy (CEO, Flipkart), and Udaan founders, Sujeet Kumar & Vaibhav Gupta also participated in that round.
Naren Gupta, co-founder of Nexus Venture Partners has joined the Goodera board.
The company, Nextgen Project Management Systems Private Limited, allotted 100 equity shares of ₹1/- at a premium of ₹8,376/- each and 94,366 Series B preference shares of ₹10/- at a premium of ₹8,367/- on March 1, 2018.
Goodera has reported revenue of ₹8.7Cr for FY’17 up from ₹5.44 Cr for FY’16 (against total expenses of ₹15.66 Cr for FY’17 up from ₹6.67Cr for FY’16).
Interestingly, for FY’17, staffing accounted for 68% of total expenses up from 50% of total expenses in the previous financial year. Rent expenses were at 6.6% down from 10% of total expenses in the previous financial year.
Goodera has $150 Million Capital & 6 million beneficieries, 150+corporates in 30 countries.