HundredX developed a win-win with its “data for good” business model.

The Addison-based real-time market share strategy company has a mission to give brands “ethically sourced” consumer insights while helping nonprofits in return. On Monday, it announced it’s surpassed the $10 million milestone in providing funds to over 700 nonprofits through its novel format.

HundredX combines crowdsourcing, strategic data analytics expertise, and AI to pull it all off. Simply put, it gives money to nonprofits in exchange for feedback from the nonprofits’ community members on the more than 2,500 businesses on HundredX’s platform. To date, HundredX has collected over 6 million “customer experiences” from over 200,000 consumers.

One bit of feedback takes about a minute and is worth up to $2, with HundredX saying a user’s time is typically valued at more than $100 per hour. Companies pay HundredX to get the “ethically sourced” consumer data, while consumers get to “give without spending.” 

‘Addresses a critical issue for nonprofit leaders’

Rob Pace, founder and CEO of HundredX. [Photo: HundredX]

Rob Pace, founder and CEO of HundredX, said the $10 million milestone “underscores the accelerating demand for high-quality insights that enable real-time market share strategy decisions. But our business model also addresses a critical issue for nonprofit leaders by creating an easy-to-execute way to generate resources.”

“It’s a true win-win,” Pace added in a statement. “We’re thrilled to be positively impacting business performance and simultaneously opening up a new avenue for philanthropy.”

Pace is a former senior partner at Goldman Sachs and a past national chairman of the Salvation Army—a background that neatly sums up his predilection for mixing business with doing good. 

April funding round brought HundredX’s investor funding to $80M+

In April, Dallas Innovates wrote about another HundredX milestone: a Series D fundraising round that brought its total funding to more than $80 million from big-name investors including billionaire Charles Schwab and Clark Hunt, the chairman and CEO of FC Dallas and the Kansas City Chiefs.

Disrupting ‘big data/big consulting’

HundredX attributes that investor interest to the value it brings to companies. It calls the consumer insights it gathers “incredibly accurate, often mirroring future earnings reports,” and says companies “use HundredX’s analytics to gain competitive, actionable insights to help them optimize consumer experiences, increase market share, and save tens of millions by preventing costly mistakes.”

HundredX sees itself as a disrupter of “big data/big consulting,” which it says are “often costly, slow, and limited.”

Businesses give their feedback

Toyota, Viasat, Columbia Sportwear, and the San Diego Padres are among the partners who get consumer insights through HundredX’s platform.

Alva Adams-Mason, Toyota Social Innovation’s group manager of multicultural business alliance and dealer relations, has some insights of her own.

“In all of our programs and partnerships, we begin with community input and engagement,” Adams-Mason said in the statement. “Working with HundredX, we’ve been able to bring additional voices to some of our HBCU-focused initiatives, helping to build strategies and co-create programs with community partners that are impactful to students, communities, and our business.”

Clark Hunt isn’t just an investor in HundredX—his FC Dallas MLS team uses the platform itself for that same win-win effect.

“The HundredX platform helped FC Dallas youth soccer teams and their families raise hundreds of thousands of dollars for needs-based scholarships and equipment,” Hunt said in a statement. “More than 90% of the eligible users opted in to provide consumer feedback and raise funds through the program.”

19 Dallas nonprofits have received funds through HundredX

In Dallas alone, 19 nonprofits have partnered with HundredX, getting their community members involved by giving feedback on businesses they use—and getting funding in return. The Dallas nonprofits include:

• Equest
• Mommies in Need
• MyCareConnect Foundation
• VolunteerNow
• BBBS Lonestar (5 markets of Texas)
• FC Dallas Youth Soccer
• Wreaths Across America (DFW area)
• Dallas Woman’s Forum
• Dallas Texans Soccer Club
• Irving Symphony Orchestra Association
• Centennial High School Baseball Boosters & Lady Titans Soccer Booster Club
• Congregation Beth Torah
• Temple Shalom of Dallas
• Lincoln Dallas Fort Worth Football Club
• Dallas Home School Athletic Association
• Lonestar High School Baseball
• Jack and Jill of America NE Dallas Chapter
• Miss Texas
• Sting Soccer Club

Nonprofits come back for more

Talk about customer satisfaction: HundredX says 98% of participating nonprofits have indicated they plan to repeat the program in the future, to serve a widely diverse set of causes nationwide. 

“The inclusivity, thoughtfulness, and ease of our program is at the root of its success,” said Molly Smith, HundredX’s chief causes officer. “We’re proud to enable donors, beneficiaries, employees, volunteers, and friends to support the causes they care about without having to write a check.”

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