Impactify: The startup leveraging tech to amplify the impact of social-spend

Financial Express | 13 February 2019

Impactify is currently piloting with more than 10 corporates with over Rs 50 crore of CSR funding monitored through Impactify.

Impactify is not just another fundraising marketplace. Despite large companies having the resources and the intention to create positive change, they are often unable to identify the right NGO partners across different geographies which are working in a specific sector. This Gurugram-based firm (Impactify) bridges this gap through its smart marketplace by showcasing projects and pre-vetting NGOs on behalf of corporate sponsors. Once matched, the platform’s integrated project management and monitoring interface reduces the administrative burden for both the NGO and the sponsor.

At a core level, Impactify is a digital solutions provider to the social sector. It serves both NGOs and sponsors to amplify the impact of social-spend. Its easy-to-use interface allows NGOs to report live from the ground, in addition to helping sponsors manage their entire portfolio of social spend, track project progress, and evaluate the impact achieved through their spend. Moreover, the team works with NGOs to not only help them create and promote effective, detailed project proposals, but also to ensure that all relevant project details that are necessary for sponsors to take funding decisions are clearly defined, including KPIs, project timelines, budget estimates, beneficiary definition, and expected impact.

With its founders, Sudeep Gupta and Joy Sharma, having 25+ years of experience in management across private and social sector globally, and their roots in engineering, Impactify leverages technology to solve cross-cutting problems of the social sector. According to them, profitability and positive social impact are not mutually exclusive. While setting up Impactify, Gupta and Sharma contemplated the opportunities of being a for-profit or a not-for-profit venture and went ahead with establishing the brand as a for-profit organisation. The core reason behind this was, that they wanted to be able to attract the top talent in the industry and also be equipped to pay them well. The company has been self-funded.

Impactify is currently piloting with more than 10 corporates with over Rs 50 crore of CSR funding monitored through Impactify. Going forward, with 1000-plus corporates, over 2,800 social sector projects and a potential of Rs 587 crore funds, the company is focusing on further expanding its marketplace across the country with a target of 5,000-plus projects by the end of FY 2018-19.

Moreover, the team envisions providing robust, technology-driven solutions to the social sector to help it grow and become at par with the private sector, and attract the best talent existing in the market. It is also exploring use cases for Artificial Intelligence in the social sector.