Empowering Social Impact: OnHand's $4M Funding Boost Fuels Global Expansion
January 26, 2023
OnHand, a London-based employee volunteering and sustainability platform, is making waves in the corporate social responsibility landscape with its recent announcement of a successful pre-series A funding round, securing a substantial $4 million. Spearheaded by 24Haymarket and supported by notable backers including Northstar Ventures, UK Research and Innovation (UKRI), and Dhiraj Mukherjee, co-founder of Shazam, the funding aims to empower companies globally to amplify their social impact.
Dubbed the "Uber for volunteering" by IBM, OnHand distinguishes itself by providing an on-demand platform that connects employees with meaningful social impact and sustainability initiatives. The platform, recognized for its innovation and impact, tracks CO2e reductions, adding a layer of transparency and accountability to corporate social responsibility efforts. The infusion of funds from this round is poised to propel OnHand's international expansion and further enhance its product offerings.
Established in collaboration with eight of the UK's largest charities, OnHand's award-winning platform addresses diverse societal challenges. From sustainability actions safeguarding the planet to aiding in poverty and homelessness, providing companionship to combat loneliness, supporting the elderly with simple tasks, engaging in youth mentoring, and offering crisis support, OnHand covers a wide spectrum of social causes.
In an era where businesses grapple with the increasing demand for transparency in social responsibility and sustainability commitments, OnHand's platform acts as a bridge, simplifying the connection between employees and local opportunities to do good. This, in turn, fosters a sense of purpose, enhances employee wellbeing, attracts and retains talent, and provides businesses with real-time data on their social impact and value.
The remarkable success of OnHand is evident in its exponential growth, experiencing a staggering 300% year-on-year expansion in 2022. Notable companies such as Domestic & General, Channel 4, and Trainline have embraced OnHand's platform, with their employees actively participating in social and environmental initiatives wherever and whenever they choose.
CEO Sanjay Lobo (MBE) acknowledges the prevalent challenge faced by companies in engaging employees in volunteering and social good programs. Lobo states, "We solve that by making doing good bite-size, on-demand, and based on your exact location with off-the-charts employee engagement results." The simplicity and accessibility of OnHand's approach align with the inherent desire of individuals to contribute positively to their communities.
James Campin, Investment Executive from 24Haymarket, recognises the rare combination of corporate responsibility and employee empowerment that OnHand offers. The seamless integration of these elements, facilitated through an on-demand app, positions OnHand as a force for good, garnering support from investors excited about the journey ahead.
Khadija Ashfaq, Investment Manager at Northstar Ventures, expresses delight in supporting OnHand, emphasising the company's role in making a genuine difference in communities. The focus is now on scaling up to have an even more significant impact on lives, an objective shared by the investors.
George MacGinnis, Healthy Ageing Challenge director at UKRI, emphasises the critical role played by social enterprises like OnHand in developing scalable products and services that deliver tangible benefits. UKRI's investment underscores the importance of supporting early-stage ventures, absorbing some of the risk associated with commercial investment.
Dhiraj Mukherjee, co-founder of Shazam, applauds OnHand for delivering a solution that aligns with the evolving priorities of companies placing emphasis on ESG and impact at the core of their business strategies.
OnHand, having achieved worldwide availability, plans to utilise the funding to expand its team across business development, technology, and impact, aspiring to become the global platform of choice for corporate volunteering and sustainability action. As companies increasingly prioritise their impact on social, environmental, and wellbeing aspects, OnHand emerges as a pivotal solution, making it effortlessly simple to do good while doing well.