Tennis star Serena Williams is continuing her new turn as a venture capitalist. In keeping with its focus on early-stage funding, Serena Ventures is funding ShoppingGives, the social impact commerce platform that was started five years ago, which provides turnkey cause marketing and donation processing for retailers. ShoppingGives announced the funding on Tuesday (Dec. 8). Terms were not disclosed.
ShoppingGives currently counts thousands of socially conscious brands on its platform, including Kenneth Cole, Natori, White + Warren, Margaux and Solstice Sunglasses. Accessible to retailers of any size on any platform, it is the only technology that enables customers to search for and support their cause of choice from over 1.5 million nonprofits, without leaving the retailer’s website. Using the ShoppingGives platform also unlocks data for retailers, enabling them to create more personalized engagement with customers based on the causes they support.
“Now more than ever, consumers are looking for brands to make a stand with their dollars and create a positive impact, and the social impact campaigns create a meaningful connection with customers,” noted a statement by Shopping Gives announcing the funding. “As eCommerce sales continue to trend upwards, brands have an immense opportunity to make an impact through donations to causes.”
“ShoppingGives aligned with my values of investing in businesses and entrepreneurs who are making a difference. By creating opportunities to grow social impact with a seamless approach for retailers and brands, ShoppingGives is charting the course for all businesses to stand forth as agents of change in our society,” said Williams, who launched the venture capital company in 2014.
Serena Ventures has invested in more than 30 startups, all of which embrace diverse leadership, individual empowerment, creativity and opportunity. The firm’s mission is to present opportunities to founders of companies in eCommerce, food and beverage, fashion, health and wellness, and social good. With partner retailers integrated with their eCommerce technology, ShoppingGives has donated to over 6,000 individual nonprofit organizations.
