Jane Halstead
Brand & Comms Lead
Neighbourly has successfully raised another £1.6 million led by Guinness Ventures. This latest funding round takes the total investment raised to date by the company to £8m ($10m).
The investment will help further expand the team and accelerate both brand and product development at a critical time when businesses are increasingly needing to deliver on ESG objectives as part of their overall strategy. ESG has become even more of a focus for business following the impact of Covid-19, the climate crisis, and now the cost-of-living crisis.
'The new investment will enable us to [help businesses] develop and deliver their social and environmental programmes, and benefit many more local communities.”
The last 12 months have seen a significant increase in demand from businesses wanting to deliver and measure social and environmental impact at a local level, as well as from local good causes needing to meet increasing demand from the communities they support. Neighbourly estimate that over 7.6 million people across the UK & Ireland are being helped each week by the local charities and good causes on the platform. Recent new clients include Virgin Media O2, Sainsbury’s, Getir, Boden, Gallagher and The FCA.
Neighbourly has had other reasons to celebrate recently, when they were awarded the Queen’s Award for Enterprise in the innovation category.
Steve Butterworth, CEO, Neighbourly said: “The last few years have been incredibly tough for local communities and businesses alike. For Neighbourly to have been able to grow a technology solution that’s enabled organisations have a positive impact at a local level during this time is testament to a changing world in which being a successful business is being one that is a force for good. The new investment will enable us to reach more businesses to help them develop and deliver their social and environmental programmes, and benefit many more local communities.”
Ashley Abrahams, Fund Manager, Guinness Ventures commented: “We have been working alongside Neighbourly for just over a year now, and in just this short space of time, the platform has grown to support over 20,000 community organisations. This latest investment, into one of UK’s founding B corporations, is a testament to its sustained growth and strong business model.”
