Proof of Impact Raises $6M in Pre-Series A Funding

Proof of Impact Raises $6M in Pre-Series A Funding

Proof of Impact (POI), a next-generation platform for ESG and impact data intelligence, today announced a $6 million increase in pre-Series A funding. Rakuten Capital led the round with the first participation from a global suite of investors, including Franklin Templeton Blockchain Fund, Five T, Blockrocket VC and Advaita Capital. Existing investors Franklin Templeton Advisors, CV VC, Working Capital Fund, Asiri and Oxford Angel Fund also participated. This pre-Series A round was significantly oversubscribed and expanded from inception $5 million target. The cycle ended less than eight months after the POIs $2.3 million seed tower.

Proof of Impact has created a unique product toolset that enables purpose-driven investors, asset managers, companies, consultants and other institutions to better understand and achieve their impact-related goals and progress and to ESG – with the sole purpose of linking verified impact to financial performance. The platform operates in over 30 different industries and its customer base of over 100 companies has grown to span six continents. Collectively, clients have entrusted Proof of Impact with over one billion ESG and impact data points that have been validated by its platform.

The new funding will enable Proof of Impact to accelerate go-to-market efforts focused on private credit and private equity fund managers, expand its impact-related financing solutions, and further expand its core product offering by incorporating blockchain-based innovations in the form of proprietary impact oracles.

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Proof of Impact will also benefit from the deep expertise and insight of two new appointments to its Board of Directors: Oskar Mielczarek de la Miel from Rakuten and Gayatri Sarkar of Advaita Capital. Directors will provide focused strategic advice as the company drives growth and scale efforts by adding to an assemblage of industry veterans with extensive experience in technology, finance and investing impact.

“Proof of Impact’s strategy of empowering companies to measure and improve their impact on the environment and society is in line with the Rakuten Group’s sustainability mission and goals. We were impressed with the company’s data-driven products and the leadership team’s demonstrated ability to quickly grow their customer base. We look forward to working with them on the next stage of their growth,” said Oskar Mielczarek de la Mielmanaging partner at Rakuten Capital.

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