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Impact Track is a web platform for social organisations. It allows them to evaluate the social and environmental impacts of a project and obtain relevant data, mainly in order to convince investors to provide funds. The startup from Nantes recently fundraised €300,000.
Key performance indicators are important for all businesses… but they are not always related to financial results! The company Impact Track, created by the environmental economist Ricardo Scacchetti in Atlantic France in 2020, has developed a piece of software which specifically targets social entrepreneurs, associations, foundations and impact investors.
A specific methodology and digital tools used to measure impact
The online platform provides social entrepreneurs with tools to track, manage and communicate the results of their operations in a transparent way. By doing so, it can help them to access funds and expand their businesses: “Impact Track connects social investors seeking to optimise their investments with social entrepreneurs looking to improve and share their impact”, says the company on its website.
The indicators used are based on international norms and objectives such as the ones of the Impact Management Project, the 17 Sustainable Development Goals of the United Nations, and the Social Value International network.
€300,000 from fundraising in April
Impact Track is supported by the Nantes office of the innovation network 1kubator and is also accompanied by the Novapuls startup accelerator. In April, the company announced a major milestone: it had fundraised €300,000 to accelerate the deployment of its social impact measurement platform.
Until now, over 120 projects from France and other countries have been monitored with the Impact Track platform. The startup which employs 8 people aims to reach 600 projects by the end of 2023.
