Addison-based HundredX surpasses $10 million in donations for more than 700 causes » Dallas Innovates
HundredX developed a win-win – and it won-win. The Addison-based real-time market share strategy firm is on a mission to empower brands with “ethically sourced” consumer insights while helping nonprofits in return. On Monday, it announced it had surpassed the $10 million milestone by providing funding to more than 700 nonprofits through its new business model.
HundredX combines crowdsourcing, strategic data analytics expertise, and AI to make it all happen. Simply put, it gives money to nonprofits in exchange for feedback from members of the nonprofit community on the more than 2,500 businesses on the HundredX platform. To date, HundredX has collected over 6 million “customer experiences” from over 200,000 consumers.
A bit of feedback takes around a minute and is worth up to $2, with HundredX saying a user’s time is typically valued at over $100 per hour. Businesses pay HundredX to get “ethically sourced” consumer data, while consumers can “give without spending.”
“Solves a Critical Problem for Nonprofit Leaders”
Rob Pace, Founder and CEO of HundredX, said the $10 million milestone “underscores the growing demand for high-quality insights that enable real-time, strategic market share decisions. But our business model also addresses a critical problem for nonprofit leaders by creating an easy-to-execute way to generate resources.
“It’s a real win-win,” Pace added in a statement. “We are thrilled to have a positive impact on business performance and simultaneously open up a new avenue for philanthropy.”
April Funding Round Brings HundredX Investor Funding to $80M+
In April, Dallas Innovates wrote about another HundredX milestone: a Series D fundraising round that brought its total funding to over $80 million from high-profile investors including billionaire Charles Schwab and Clark Hunt. , President and CEO of FC Dallas and Kansas City. Chiefs.
disrupt “big data/big consulting”
HundredX attributes this investor interest to the value it brings to companies. He calls the consumer insights he collects “incredibly accurate, often reflecting future earnings reports” and says companies “use HundredX analytics to Gain competitive and actionable insights to help them optimize consumer experiences, increase market share and save tens of millions by avoiding costly mistakes.
HundredX sees itself as a “big data/big consulting” disruptor, which it says is “often expensive, slow and limited”.
Companies give their opinion
Toyota, Viasat, Columbia Sportwear and the San Diego Padres are among the partners obtaining consumer insights through The HundredX platform.
Alva Adams-MasonHead of the Multicultural Business Alliances and Dealer Relations Group at Toyota Social Innovation, has his own ideas.
“In all of our programs and partnerships, we start 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 strategize and co-create programs with community partners that impact students, communities, and our company.”
Clark Hunt isn’t just an investor in HundredX — his FC Dallas MLS team uses the platform itself to the same win-win effect.
“The HundredX platform has helped FC Dallas youth soccer teams and their families raise hundreds of thousands of dollars for need-based scholarships and equipment,” Hunt said in a statement. “Over 90% of eligible users have chosen to provide consumer feedback and fundraise through the program.”
19 Dallas nonprofits have received funds through HundredX
In Dallas alone, 19 nonprofits have partnered with HundredX, engaging members of their community by providing feedback on the businesses they use and getting funding in return. Dallas nonprofits include:
- Moms in need
- MyCareConnect Foundation
- BBBS Lonestar (5 Texas markets)
- FC Dallas Youth Football
- Crowns Across America (DFW Zone)
- Dallas Women’s Forum
- Dallas Texans Football Club
- Irving Symphony Orchestra Association
- Centennial High School Baseball Boosters and Lady Titans Soccer Booster Club
- Congregation Beth Torah
- Dallas Shalom Temple
- Lincoln DallasFort Worth Football Club
- Dallas Home Schools Athletic Association
- Lonestar High School Baseball
- Jack and Jill of America NE Dallas Chapter
- Miss Texas
- Sting Football Club
Nonprofits are coming back for more
Talk about customer satisfaction: HundredX reports that 98% of participating nonprofits indicated that they plan to repeat the program in the future, to serve a very diverse set of causes nationwide.
“The inclusiveness, thoughtfulness and ease of our program are the foundation of its success,” said Molly Smith, responsible for the causes of HundredX. “We are proud to allow donors, beneficiaries, employees, volunteers and friends to support the causes close to their hearts without having to write a check.
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