Thursday
January 13
2022

Press Release: 60 Decibels Raises $8.8 Million in Series A Financing

60 Decibels, a customer insights company that makes it easy to listen to the people who matter most — underserved customers, employees and producers around the world — closed $8.8 million in Series A funding to end a year of record growth in 2021. The investment was made by FPE Capital, a software and services-focused lower mid-market growth investor based in the UK, as a combination of new growth capital and secondary purchase of existing shares. 60 Decibels works with leading impact investors, companies, foundations and nonprofits, including the Rockefeller Foundation, Flourish Ventures, Visa, Generation Investment Management, SAP, Unilever and Primark, to listen directly to customers and suppliers to measure and benchmark social performance.

Lean Data, 60 Decibels’ unique approach to social impact measurement, was incubated at Acumen, a patient capital investor, starting in 2013. 60 Decibels spun out as an independent entity in early 2019 to expand its offering of beneficiary-level data collection and analysis to a global client base. Initial investors in the spin out included Acumen, Ceniarth, and the DOEN Foundation.

In 2021, 60 Decibels closed more than $10M in new sales and has grown its global research network to 831 trained researchers across 69 countries who speak 125+ languages. These researchers, who conduct phone surveys in local languages, listened to more than 100,000 individuals around the world in 2021 — customers being served by improved off-grid energy, agriculture, education, financial inclusion, quality jobs, and more.

The growth capital investment from FPE will help 60 Decibels accelerate the adoption and insights of customer ratings and benchmarking in the impact sector, and to capitalize on ESG-driven market demand for data and insight around societal impact. 60 Decibels will invest in sales and marketing, as well as further technology enablement to improve efficiency and advance a data subscription business model.

Since closing the funding round in December, co-founders Sasha Dichter and Tom Adams are positioning 60 Decibels for the next stage of growth. Sasha Dichter has taken on the role of CEO, and Tom Adams will become the company’s Chief Strategy Officer.

For more information, visit 60decibels.com

Photo courtesy of Micheile Henderson.

Source: 60 Decibles (link opens in a new window)

Categories
Investing
Tags
ESG investing, Impact Assessment, impact investing, measurement, scale