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15 Million Steps Closer to Disrupting Philanthropy

  • Jake Wood
  • November 30, 2021

Fortune favors the bold. It’s a favored saying among the military circles I used to serve in.  I believe that when bold vision is combined with bold action, and encapsulated in a culture of relentless commitment to both, that extraordinary outcomes are possible.  Groundswell’s mission was born of this boldness: to democratize philanthropy for the masses.  We aim to make charity a standard component of employee compensation and ensure that everyone has access to the same giving tools as the ultra-wealthy. 

That type of mission requires significant resources, and thus I have some exciting news to share – today we are announcing that GV (formerly Google Ventures) is leading a $10 million Series Seed investment in Groundswell!  GV will be joined by Human Ventures, Moonshots Capital, Felicis Ventures, and Core Innovation Capital

This financing will give Groundswell approximately $15 million to build the world’s most innovative giving platform and will catapult us toward our vision of creating a future in which every solution is funded and every problem is solved. 

We pitched partners at many of the most iconic venture capital firms in the world and received several offers, but GV was undoubtedly the right partner for Groundswell.  Not only did GV immediately understand the immense commercial prospects of Groundswell, they fully bought into our vision to build a company capable of driving significant positive social change.  Most importantly, they did not see those things as mutually exclusive objectives.  

We are also fortunate that GV partner MG Siegler will be joining the Groundswell board of directors.  From our first phone call, I knew that MG was someone that I wanted to work with.  His eyes lit up when I spoke about how we could solve the inherent challenges of current donor advised fund offerings while simultaneously building a new corporate benefit that reimagined compensation.  It also helped that MG’s dad is a Wisconsin grad and former Marine – it allowed me to get over the troubling fact that he’s a Michigan grad. 

Luckily, I’m equally thrilled by our other participating investors.  Human Ventures was writing a check to invest in Groundswell before we even had a pitch deck (or a name!) and I’m eager to continue working with them.  As a Marine Corps veteran, Moonshots’ commitment to backing military veteran entrepreneurs aligns with my worldview that our servicemen and women make incredible founders.  I have known Aydin and the folks at Felicis for a long time and Groundswell is perfect for their impressive portfolio of companies.  Silver Lake has limitless potential to help us scale and secure early adopters.  Last but not least, I knew Core was a team I wanted to partner with the first time I heard their investing thesis: backing missionary companies and mercenary returns. 

The team here at Groundswell has its work cut out for it. While this financing puts wind in our sails, we know that the journey we are on is not for the faint of heart. Our aim is to create an entire category (Philanthropy-as-a-Service) that reinvents corporate philanthropy, total compensation, and individual giving.  It’s a bold objective.  But fortune favors the bold. 

If you’re a passionate and talented human eager to join a world-class team, check out our careers page.  If you work at a company that wants to be on the leading edge of corporate social responsibility and talent acquisition, reach out to request early access and become a Groundswell launch partner. Everyone else – buckle up, because this is gonna be a helluva ride. 

  • Jake Wood
  • November 30, 2021