Good Done Great, a company that builds cloud software for maximizing corporate philanthropy and social responsibility programs, today announced a $500,000 investment from Lighter Capital.
Good Done Great, which is based in South Carolina and has offices in Tacoma, Wash., helps Fortune 500 companies like Marriott and Staples increase philanthropy and employee engagement. The company had been bootstrapping prior to today’s investment from Lighter Capital, a Seattle-based firm that specializes in revenue-based loans to small businesses.
“Lighter Capital and its revenue-based financing model is a perfect fit for us, with business objectives that align well with ours,” Good Done Great CEO David Barach said in a statement. “No one wins unless the business is generating revenue.”
Lighter Capital says that its funding model is more flexible than traditional loans and equity investments, as repayments rise and fall with a business’ revenue while entrepreneurs don’t have to forfeit equity like they do with venture capital.
The firm, which invests up to $1 million in startup companies, reported in September that it had increased its capital base to $17 million after completing its 50th loan. Lighter Capital’s funding volume has increased 400 percent in the past 12 months.
