New Capital Ensures Future of Meaningful Impact
Today, Goodr announced $8M in Series A financing. The new round, led by Precursor Ventures, with participation from Collab Capital, Gratitude Railroad, Emerson Collective, Backstage Capital, Innovations For Impact, the TELUS Pollinator Fund for Good, Hockey Stick Investments, Kimbal and Christiana Musk, and a host of angel investors brings the company’s total funding to $9.4 million. The funding also includes debt funding the company received from Invest Atlanta to create more jobs within the city of Atlanta. Goodr will use the new financing to launch new products, expand logistics capabilities, and increase the company’s headcount.
Founded on the principle that “Hunger is not an issue of scarcity; it’s a matter of logistics,” Goodr has maintained a laser focus on capital efficiency in its work to distribute meals to those in need, recover surplus food, and reduce food and organic waste sent to landfills. Since raising its $1M seed funding, Goodr has scaled both revenue and impact by 10x. The company utilized that funding to launch hunger relief solutions, serve nearly 30 million meals, divert nearly 5 million pounds of organic material from landfill and grow its client list to include the NBA, Emory University, SodexoMagic and more.
This latest round of funding will allow Goodr to further its mission by investing in the company’s existing technology, launching new hunger relief and food waste-focused products, doubling the company’s team size, and expanding with current large-scale clients like IHG Hotels & Resorts. The company will also add its first angel investor and CEO Jasmine Crowe’s personal mentor, Jewel Burks Solomon to the board. Burks Solomon’s venture fund Collab Capital participated in this round.
It’s been an honor to watch Jasmine and her team efficiently grow the business and create intentional, measurable impact over the last 5 years. With this new infusion of capital, Goodr is poised to scale its mission and continue to be the gold standard for how to do well and do good. I’m thrilled to join Goodr’s Board of Directors at this important moment in the company’s journey.– Jewel Burks Solomon
“Jasmine is passionate about solving the hunger crisis in our country and she and her team have done a fantastic job channeling their passion for this mission into a really strong business that delivers substantial value to her customers and the community she serves,” said Charles Hudson, Managing Partner at Precursor Ventures. “I am honored to lead this round and continue to work with Jasmine and her team as they continue to build a world-class company that will leverage their strength in logistics and technology to get more food to those who need it most.”
“I am thankful to the many investors that believed in Goodr for contributing to this milestone for our company,” said Founder and CEO Jasmine Crowe. “We have been very capital efficient over the last five years reaching millions in annual revenue with a team of just five people for years,” she continued. “I look forward to growing our team, expanding to new markets and building new products to end hunger and help businesses reduce food waste. It’s an exciting time for all of us here at Goodr.”
The impetus behind the founding of Goodr was need. After feeding hundreds of food-insecure people in her Downtown Atlanta neighborhood for years – cooking for them each Sunday in her own kitchen, Jasmine knew there had to be a better way to fulfill this tremendous need. This mindset has also been the bedrock behind Goodr’s ability to make the most of every dollar, enabling the company to accomplish so much with only its seed funds. Goodr’s commitment to capital efficiency will ensure the company’s ability to rise to the moment of need as our nation braces for a possible recession.
Goodr is also proud to be a certified B Corp – meaning it practices high standards of verified performance, accountability, and transparency on factors ranging from employee benefits and charitable giving to supply chain practices. Goodr’s high standards and positive impact extend internally as well. The company operates on a hybrid work model and provides employees that need to work from the office access to free drop-in childcare at The Goodr Kids Club, where child enrichment is offered in a multitude of ways. Most recently Goodr announced the first recipients of its inaugural Summer Internship Program, choosing 4 candidates from HBCU colleges: Howard, Morehouse and Clark Atlanta, who will benefit from not only immersing themselves in all that company has to offer, but earn a summer stipend as well. In all aspects of the company, Goodr is committed to doing well by doing good.
The Goodr team looks forward to the impact it will make with this new funding.