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Proof of Impact raises funds enabling businesses to improve their impact-related objectives and progress.
FREMONT, CA: "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," noted Oskar Mielczarek de la Miel, Managing Partner at Rakuten Capital.
An ESG and impact data intelligence platform, Proof of Impact (POI), has raised $6 million in pre-Series Around of financing. Among the investors participating in the round were Franklin Templeton Blockchain Fund, Five T, Blockrocket VC, and Advaita Capital for the first time. In addition to Franklin Templeton Advisors, CV VC, Working Capital Fund, Asiri, and Oxford Angel Fund, existing investors also participated in this investment round. Oversubscription increased the target from $5 million to $10 million in this Pre-Series A round. POI's $2.3 million seed round closed less than eight months earlier.
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In order to deliver the unique goal of tying the verified impact of the company's products to the financial performance of its investors, asset managers, enterprises, consultants, and other institutions, Proof of Impact has developed and created a unique product toolset that allows these institutions to understand better and meet their impact-related objectives and progress. Customers have submitted over one billion ESG and impact data points to Proof of Impact in the past year, which has been validated by Proof of Impact's platform. Over 100 companies have joined the platform, and the platform's client base has grown to span six continents, with its extensive client base spanning more than 30 industries.
With the new funding, Proof of Impact will be able to expand its impact-linked finance solutions to private credit and private equity fund managers and also incorporate blockchain-based innovations into its core product offerings, such as proprietary impact oracles, to accelerate go-to-market efforts.
In addition, Proof of Impact is excited to bring two new boards of directors to its Board of Directors: Oskar Mielczarek de la Miel of Rakuten and Gayatri Sarkar of Advaita Capital. They each have deep expertise and insight to bring to the Board. With a team of seasoned industry veterans and a wealth of expertise across technology, finance, impact investing and philanthropy, our directors, will provide targeted strategic guidance as we focus on growing and scaling the business.
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