Raised $250K pre-seed from local angels
September 2018
Launched beta impact trade product, impctcoffee, in Bay Area
January 2019
Onboarded Uber, Salesforce, Adobe, Thumbtack, Cisco as enterprise clients
March-August 2019
Participated in Pear VC Summer accelerator
Summer 2019
Cisco opened an impact trade cafe on campus
September 2019
Closed 2019 with $250,000 in revenue @ 40% MoM growth
December 2019
Hired new CTO to develop our new impct.com platform + ecommerce integrations to empower any brand with our impact trade model
May 2020
Brands are struggling to build compelling products for a new generation of consumer that want to use what they buy to signal their values. Why?
Every dollar a brand invests in having their product do good comes at the expense of building a better product, a cheaper product, or scaling their sales. The focus split from in-housing impact is devastating to growth and explains the relatively small impact of ethical products to date.
Put simply? When brands in-house impact there's no way to simultaneously meet all consumer demands and build a truly compelling ethical product.
Our solution is to decouple brand and impact and build a universal way for any brand to empower their customers to do real, targeted good through their purchases.
Our impact trade platform and e-commerce channel integration are built to offer brands (or marketplaces) a way to outsource impact and bake it into their digital sales channel(s) rather than in-house it as an ethical product model. We allow brands to impact invest out of the margin on sale targeted by the purchasing consumer.
What does this mean? Brands can focus 100% of their time and resources on product while we enable their consumers to create unparalleled impact.
It's hard to understate the growing demand for impact products.
50% of all growth in CPG in the USA over the last seven years was driven by ethical products and these grew 5.6X faster than their non-standard equivalents (NYU Stern).
We're rolling out our impact trade service in two stages. To introduce consumers to the impact trade concept while we build out our backend features we're building a highly curated and limited end-to-end experience on our impct.com platform. Consumers can:
Order fulfillment and distribution will be handled through partner brand's existing processes.
Given that partner brands will be accessing a totally new audience through our native platform we've priced this slightly lower than what a brand would typically pay through a marketplace.
Ultimately our goal is to build a set of integrations across ecommerce platforms (Shopify, woocommerce, an in-house API) that will bring impact trade to the native e-commerce experiences of the world's biggest brands and marketplaces.
Via an impact trade integration a consumer will be given a choice (or, at the brand's discretion, made default) at checkout to "make this product impact trade". Doing so will allow us to capture some of the margin for investment, crediting that user with the same amount on our impct.com platform for targeting.
As the investment is made and paid back the brand will re-capture their margin, the consumer the upside in credits to spend with the brand, and the brand valuable behavioral data about that consumer.
Taylor Scobbie (taylor@impct.com)
Founder + CEO
B.A. Honors, Logic - University of Calgary, Canada
B.Sc., Quant Finance - University of Calgary, Canada
MBA - NCCU, Taiwan
$1,000,000 Hult Prize winner for world's most disruptive new social enterprise
Jessi Fu
Founder + COO
B.A, Philosophy - Fu Jen University, Taiwan
MBA - NCCU, Taiwan
$1,000,000 Hult Prize winner for world's most disruptive new social enterprise
Mindy Huynh
Chief of Staff
BSc, Business Administration - UC Berkeley
BA, Economics - NTU, Taiwan
MBA Candidate - Harvard Business School
Blackrock, Deutsch Bank,
Chicago Pacific Founders
Trent Ratzlaff
CTO
BEng, Electrical - University of Calgary, Canada
MSc, Sustainability Energy Tech - TU Delft, Netherlands
Jim Chappell
Board of Directors
SVP+ @ Legato, Declara,
Centrify, LaunchPad
Jonnie Cox
Advisor - Strategy + Fundraising
Partner @ Sound Ventures
VP @ Softbank-backed
PlaySight Interactive
Sheryl Chamberlain
Advisor - Partnerships
COO @ EMC
VP @ Capgemini
Chief of Staff @ The Linux Foundation
Chairwoman @ National Diversity Council