$2 Million Series A Round led by iGan Partners, MaRS Investment Accelerator Fund and private investors.
TORONTO, Sept. 25, 2012 /CNW/ - Today, Better The World Inc., a leading provider of technology for fundraising and social responsibility programs, announced the closing of a $2 million Series A round of financing. The investment, led by iGan Partners Inc. with participation from the MaRS Investment Accelerator Fund (IAF) and a group of private investors, will be used to develop and market the Company's recently announced Business-to-Consumer digital marketing platform called FlipGive.
FlipGive - a pay-for-performance digital marketing platform - uses the power of people and community fundraising to guarantee sales, drive widespread social media promotion and create positive social impact for national retailers and consumer brands.
"The IAF is excited to be investing in Better The World," said Michelle McBane, Investment Director at the IAF. "We believe the FlipGive platform will revolutionize grassroots fundraising and corporate philanthropy by providing an inherently social and simple solution that can be directly tied to ROI for participating merchants."
The platform was conceived following Better The World's development of many successful digital social responsibility platforms for companies like TD Bank, Pearson Publishing and Indigo. The first retailer to launch using FlipGive technology is Indigo for the Adopt a School program (adoptaschool.indigo.ca). The program provides an easier way for schools across Canada to raise money. Parents, teachers and Indigo store staff sell Indigo digital gift cards to their online social networks using the FlipGive platform. Every gift card sold triggers a donation to the school, drives a customer to Indigo and gets the buyer a gift card that can be redeemed in-store or online.
"We fundamentally believe that FlipGive is a game-changer for retail and brand marketers. It's a risk-free way for marketers to get guaranteed results and do good," said Sam Ifergan, CEO, iGan Partners.
"The entire team is so grateful for the support of iGan Partners, MaRS IAF, and our private investors," said Steve Croth, Co-CEO, Better The World Inc. "We're looking forward to the journey ahead of us – helping thousands of companies drive sales and create positive social impact in their communities."
FlipGive will beta launch in October with Lowes, Indigo, Spy, Ethical Ocean and others.
About Better The World
Better The World Inc. provides technology that powers innovative fundraising and social responsibility programs. FlipGive is the company's unique digital marketplace that connects merchants to consumers through peer-to-peer fundraising. The platform revolutionizes grassroots fundraising and corporate philanthropy; allowing companies to drive sales while creating positive social impact in their communities. To learn more, visit http://www.bettertheworld.com or http://www.flipgive.com
About iGan Partners
iGan Partners, Inc. (iGan) is a growth capital investment firm providing private funding and merchant banking services to a wide variety of businesses at different stages of their development. iGan's team of entrepreneurs partner with dynamic management teams, empowering them to build the next big idea. iGan co-invests in information technology, medical device, financial services, resources and real estate based businesses. iGan has offices in Toronto and San Diego. To learn more, visit http://iganpartners.com
About the Investment Accelerator Fund
The Investment Accelerator Fund (IAF) invests in qualified emerging companies in Ontario using an equity-type instrument. As a critical component of the Ontario Network of Excellence (ONE), the IAF supports the launch and development of innovative businesses in Ontario's priority sectors of advanced materials and manufacturing, information technology, cleantech and life sciences. The IAF is funded by the Government of Ontario and delivered by MaRS.
For more information, contact:
Better The World Inc.
Ph. 416.583.2510 x2500
SOURCE: Better The World Inc.
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