Task is an ecosystem where people are rewarded for creating change. It promotes social funding, shines a light on brand and individual achievement, and provides transparent insight into how impact is created. Task is looking for investors for their third seed round and clients or partners who are aligned with their mission.
Our interview with Steve, Co-founder and CEO of Task
Describe your mission in a sentence or two
There is concern around how businesses conduct themselves and the impact they create, leading to many companies playing a more active role in solving social and environmental issues - additionally there is an increasing need for improved transparency with how corporate social responsibility and impact investment funds are used.
Task solves these problems with a mobile first activity tracking platform that supports funding, rewards the users, and increases confidence with real time analytics.
Who are your clients?
The primary customers are for profit organisations looking to engage with their employees. Through employee experience improvements, organisations can combine their social and sustainability goals - improving work-life balance and realising environmental goals through a happier workforce.
Nonprofits are a second customer who use Task to track how they utilise donations & funding. This ties back to the for profit organisations who can provide employees with workplace giving rewards or provide ongoing funding as part of their impact budgets.
What stage are you at in your business?
We have completed two seed rounds that enabled the product build and onboarding of first customers. Recently we have completed our Task Analytics reporting system which allows organisations to openly report on specific KPIs such as UN SDG targets.
We are now starting a third seed round which is to replicate our first stage sales and marketing plan to take us to a Series A raise in 12-18 months time
What is your business model? How do you marry profit with purpose?
Task is very much about marrying a financial return on investment with clear positive impact. We achieve this by:
- Core revenues are derived from for profit businesses - organisations who can increase performance by better engaging with their employees, as well as funds and fund management organisations who benefit by providing their clients with tracking software providing real-time fund use insight as well as improved team reward and performance.
- Nonprofits may use Task to engage with their employees of course - and gain a double return through the automated marketing of their impact and reporting to donors. Task provides donor management and reporting, but does not take any fixed fees from donations (donors are able to “tip” Task if they choose)
- In all cases the central story around Task is transparency - through a combination of mobile technology with blockchain data integrity checks, Task aims to shine a light on the organisations making real impact - whether for profit or not.
What does "impact" mean to you as a profit-driven company?
We believe the quickest route to global change is to harness existing for-profit systems while excluding organisations that abuse this system through self-interest. Immutable transparency eliminates the bad actors and means increased liquidity flows to the good actors.
What is the vision for the company?
Our vision is a world where companies are able to solve social and environmental issues as part of their daily business activities. Where impact is created by the teams that work for those companies and technology underpins the processes that make it happen. With the business sector focused on making a difference, as well as the nonprofit sector, a great deal more can be achieved in far shorter timeframes.
What are you most proud of or excited about for your business?
Probably seeing the effectiveness of the Everyball Enabled disabled tennis programme from Halton. It completely encapsulates everything Task can offer by:
- Rewarding their team internally for tracking key activities
- Providing reports to their funders such as the UK national Lottery
- Automating marketing around the organisation through the content of these tracked activities
- Increasing the nonprofit topline by increasing the funding for a project that deserves more support
What other UK impactful startup do you love and why?
I love the Carbon Free Group - they have already achieved impact through their work on large scale projects, and they are forward thinking with aims to meaningfully apply blockchain technology to energy solutions. My brother Karl is also a Director, so maybe I’m a little biased :)
What’s next for your company?
Leverage the existing technology we’ve created by laser focusing in the coming year on our top line growth. 2019 was the year of product for us, 2020 is the year to create revenue driven stability. Our principles as a business and the transparency in our DNA will drive impact.
What can you offer the SeedTribe community?
Our goal is to use technology to make you more efficient, automate marketing and reporting, improve employee engagement and - where appropriate - help increase funding. We’d very much like to speak to other SeedTribe members whose organisations could benefit from what we offer.
How can the SeedTribe community be involved in helping you scale your impact?
As a technology platform, our impact scales by helping our clients and our partners. If what we do resonates, then get in touch. We are also lucky to have a great team of existing investors and advisors who bring both expertise as well as funding to the table. We’re looking for similar investors with impact expertise in this third seed round.
To be put in touch with Steve, send us an email.
Read Task’s blog post on their new analytics engine to find out how they enable companies to effectively track and report on their UN SDG achievements.