Social Good Network Successfully Closes Funding Round

Oct. 25, 2012 - PRLog -- Social Good Network successfully closed its seed series investment round today, raising $374,000 to fund growth for its innovative online fundraising solutions. The round was oversubscribed and increased to accommodate demand. Lead investor for the round is the Boise Angel Alliance and its funds, the Boise Angel Fund and the new Treasure Valley Angel Fund. Social Good Network is the Treasure Valley Fund’s first investment.

Social Good Network, which creates new fundraising opportunities for nonprofits through online shopping, direct donations, and social media, will use the capital to hire marketing staff and enhance its technology platform and online offering.

“We partner with major retailers to turn online purchases into donations for causes, and we develop online tools that make fundraising more compelling and social,” said Social Good Network CEO Russ Stoddard, who started the company in 2011 with Co-founder and President Antonia Chappell.

The Boise Angel Alliance and its funds are comprised of local investors, seeking to help local startups and entrepreneurs get funding with the purpose of accelerating Idaho’s economic growth.  The series seed round also included an investment by Montana-based Frontier Angel, as well as individual investors.

“We believe Social Good Network's innovative technologies and market strategies will put it at the forefront of a rapidly emerging and exciting growth opportunity,” said Kriss Kirchhoff, president of the Boise Angel Alliance.  “We're proud to invest in their mission of ‘Do good, make money,’ and think this investment will provide a good return for our funds.”

About Social Good Network

Social Good Network turns online purchases into donations you can direct to any of the 1.6 million nonprofits on its site, without any added cost.  Social Good Network’s innovative online fundraising solutions and community connect nonprofits, individuals, and brands through social media, shopping, and everyday acts of goodness.  Join for free at socialgoodnetwork.com.