With a London HQ and an office in Manchester, social impact measuring and monitoring platform Social Value Portal has raised £8.5 million in a Series B funding round. In response to increasing public and private sector demand, SVP plans to use the new investment to further increase its offer, and will launch a Social Value Academy. This new initiative is geared toward further education of corporate managers and leaders on how to effectively incorporate social value into their business choices and execution.
Social Value Portal’s £8.5 million Series B round was led by Mercia and saw support from existing investor Beringea.
In operation just shy of a decade now, according to the company they’ve helped customers including Accenture, Vodafone, and Fujitsu, track in excess of £17 billion of social value, a figure up £15 billion from the company’s 2020 funding round.
Captialising on the momentum, SVP says that it's on track to help customers deliver £100 billion of social value by the time the clock strikes midnight on 31 January 2026.
If SVP’s services and methods sound perhaps a bit “nice to have, do we really need this?” consider that Since 2012, the Social Value Act has required UK public sector bodies to evaluate ‘economic, social and environmental well being’ as part of public tendering processes, with social value tabulations accounting for up to 30 percent of the total weighting when awarding tenders.
And this is just for UK projects, as Atlas Metrics founder Wladimir Nikoluk highlighted other social impact reporting standards that have already been enacted or will be soon: GRI, CDP, CSRD, SFDR, LkSG, and the list goes on and on.
“These are really exciting times for our business and we are delighted that Mercia has invested in us alongside Beringea to help us scale and support more organisations to deliver a positive contribution to society and the planet,” commented Social Value Portal founder, CEO, and former lead sustainability partner at Deloitte, Guy Battle. “This investment will allow us to continue to improve and innovate, making it easier for members to provide more social good.”