Social Welfare Forum based in Gaithersburg, Maryland givero A seed round recently closed with the backing of several institutional investors in Maryland.
Seed round participants included Baltimore Conscious Venture Fund II, Swarv Limited, tedco And this University System of Maryland Momentum Fund, The amount invested in the seed round was not publicly disclosed.
With this round of funding, Givero aims to double its revenue by March while expanding its sales team in Maryland with three new employees. The company also aims to start growing the Series A in March.
Givhero partnered with employers to turn the Company Wellness Benefit Program into a fundraiser for local charities. Through Givhero’s platform, employees raise funds for the charity of their choice by simply participating in company welfare initiatives or through employer donation-matching processes from these activities.
“What we do is connect employees’ health and wellness journey with the social causes they care about,” said Givero cofounder Vishal Chintawari said tech.ly, “At the employer level, they get employee engagement, experience, corporate culture and social responsibility. We touch on many aspects for employers with a single platform.”
Local investors, such as the University System of Maryland’s venture fund, are backing Givero because they see the potential in the platform the platform has to offer so far.
“The technology is advanced enough, the non-profit’s strategy of giving back is unique and personalized, and the company has seen an excellent growth trajectory,” said Claire Brideau JohnsonMaryland Momentum Fund’s managing director said in a statement. “We look forward to data that proves employee retention and more, and are delighted that 90% of Givero members say their connection to local charities motivated them to meet their health goals. Employers, especially During the pandemic, remote workers have had to find innovative new ways to engage and keep them healthy.”
Deontay is a member of the 2020-2022 Corps for Kirby Report for America, an initiative of The Groundtruth Project that connects young journalists to local newsrooms. This position is Robert W. Supported by the Deutsch Foundation. -30-