MyIB Secures Seed Funding from KOLMAR KOREA for Matching Gift Platform
The Korean startup MyIB, specializing in matching gift programs for corporations, has secured seed funding from KOLMAR KOREA. Matching gifts are initiatives where a company matches the charitable contributions or volunteer efforts of its employees, effectively doubling the impact. MyIB offers an innovative software platform called ‘Give & Match’ that facilitates these programs online. Common in North America, matching gifts are part of many companies’ ESG or HR strategies, allowing them to amplify their social contributions.
Unlike traditional corporate social responsibility activities that are often limited and driven by the company, matching gifts empower employees to lead the effort in supporting a wide range of non-profits, in partnership with their employer. This not only enhances employee satisfaction, engagement, and belonging but also strengthens the nonprofit’s ability to carry out their missions with the added support from both employees and the company.
Founded by global HR and organization expert Young-hee Park, MyIB was created in response to the lack of matching gift software solutions in Korea. Park, with his extensive HR background and experience implementing matching gift programs in Silicon Valley, launched MyIB in September of the previous year.
The startup is preparing for field tests of its minimum viable product (MVP) this April and is currently forming partnerships with diverse nonprofit organizations. In March, MyIB entered into a collaboration with GUIDE STAR KOREA to facilitate the sharing of nonprofit evaluation results via its platform. After approximately three months of MVP testing, MyIB aims to start offering its matching gift software to corporate clients in the latter half of this year.
CEO Young-hee Park shared, “MyIB, an acronym for ‘Make your Impact Bigger,’ embodies our mission to amplify the positive societal impact made by employees and companies. Although matching gifts are a relatively new concept for Korean firms, we’re confident that our platform will not only raise awareness but also encourage adoption, particularly among ESG-conscious companies.”
He continued, “We are honored and thrilled by this investment, which validates the importance and effectiveness of matching gift programs, as well as MyIB’s potential for value and growth. We’re dedicated to our mission of building a better society together with our stakeholders.”
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