Give InKind raises more cash as social giving platform gains popularity amid pandemic
Business is booming for Tacoma, Wash.-based startup Give InKind as more people use its social giving platform during the global pandemic.
The company just raised nearly $900,000 to help support its growth. The funding comes six months after it raised a $1.5 million seed round. Give InKind aims to help streamline the giving process between friends and family and those in need of meals or other aid as they go through difficult life situations. Give InKind CEO Laura Malcolm. (Give InKind Photo)
The health and economic crisis has driven up demand for the company, which saw 40% week-over-week growth earlier this year. Revenue has doubled since January as new use cases emerged, such as more than 200 hospitals and healthcare facilities that began using Give InKind to streamline their meal donations.
The cash will help Give InKind roll out integrated meal delivery ordering and a new way to send digital gift cards. The company makes money off affiliate fees and is exploring B2B offerings. “We had runway into 2021, but wanted to move quickly with the opportunities we have in front of us now, so this will allow us to grow our team and marketing budgets,” said Give InKind CEO Laura Malcolm.
Malcolm said previously that her company does not compete with GoFundMe and “is not in the crowdfunding business.” The closet competitor is Meal Train, a Burlington, VT company founded in 2010.
Investors in the new round include SeaChange; Tacoma Venture Fund; Tapas Capital; and James and Geraldine Moody. Other backers include Madrona Venture Group; Trilogy Equity Partners; Keeler Investments; FAM Fund; Grubstakes; X Factor Ventures; Alliance of Angels; and others individuals.