CEO hails new status as proof people are invested in the importance of corporate purpose
Calgary-based tech firm Benevity has landed a US$1.1-billion deal with Hg Capital LLP, a British private equity firm that will buy a majority stake in the company, according to a report by CBC.
Founder and CEO, Bryan de Lottinville, and president, Kelly Schmitt, announced the deal to staff in style: dressed as unicorns.
"It means a lot. For one thing, it's tremendous validation of the acceleration of the importance of corporate purpose," de Lottinville told the Calgary Eyeopener. "And the appetite for companies to use their reach and resources and people to help solve some of the world's most pressing issues."
Benevity was established in 2008, when de Lottinville decided to pursue his idea to reinvent corporate giving. The company provides software solutions that more efficiently extract money, volunteer hours and general "goodness" from employees for the benefit of charities.
It allows people and companies to address causes and issues that matter to them personally, de Lottinville said. Benevity has amassed multinational corporate clients that include Nike, Coca-Cola, Google and Apple.
"Broadly speaking, we help companies help people be their best selves, by connecting them with a sense of meaning and purpose and impact," de Lottinville said.
"We do that with the software platform that enables companies to engage their employees and customers around various types of social impact initiatives through giving time, talent, money, corporate grants — even purpose-driven behavioural change around things like sustainability, or unconscious bias, or diversity."
Benevity has seen about 35 per cent of the Fortune 500 adopt its software.
