Thanks to ICFG UK, Social Value Portal, the UK’s leading organisation for measuring and monitoring social impact, completes £8.5m Series B investment
Founded in 2014, Social Value Portal (“SVP”) enables organisations to attribute a financial measure to the social good they deliver to communities, people, and the environment. It also helps them identify opportunities to increase their positive impact.
The company, which is based in London with an office in Manchester, today supports more than 16,000 users, from UK public sector bodies such as the NHS and Met Office to global corporates such as Accenture, Vodafone and Fujitsu. SVP is used by over 100 public sector buyers nationwide and is supported by the Local Government Association.
SVP has seen rapid traction and to date has enabled users to track over £17bn of social value, up from £2bn at the time of its Series A in 2020. It is also on course to hit its pledge of helping organisations deliver £100bn of social value by the end of 2026.
This investment will enable SVP to tap into growing demand from the public and private sectors, and launch a new Social Value Academy to help educate business leaders and embed social value into business decision making and delivery.
Measurement of non-financial impact has become increasingly important as organisations face greater regulation and scrutiny of the public, investors and other stakeholders. Since 2012, the Social Value Act has required UK public sector bodies to evaluate ‘economic, social and environmental well-being’ as part of public tendering processes, and social value can account for up to 30 per cent of the total weighting when awarding tenders.
HMT completed an extensive advisory role, working with the SVP team to develop and refine the investment case, before leading a competitive fundraising process that resulted in multiple attractive offers from a range of investor profiles.
Guy Battle, CEO at Social Value Portal commented:
“These are really exciting times for our business and we are delighted that Mercia have invested in us alongside Beringea to help us scale and support more organisations to deliver a positive contribution to society and the planet. HMT were trusted partners throughout the process, understanding our business and our ambitions before using their extensive market experience to identify and negotiate an ideal investment solution. James and Jack were a great source of knowledge and support at every stage, enabling the management team to stay focussed on the business.”
Jack Longden, Director at HMT commented:
“SVP have built an enviable position as the go-to solution for forward-thinking organisations seeking to measure and optimise the social value they create, with an accelerating market opportunity ahead of them. In a competitive fundraising market we are pleased to have supported Guy and his team in securing the new investment to deliver their strategy and look forward to working together again the future.”