Our CEO and Managing Partner of Ventures, Jessica Droste Yagan, has frequently said over the years: “working with our entrepreneurs is an antidote to reading the news — it gives me hope that so many great teams are working on solutions to our challenges.” This sentiment feels more relevant than ever, as many of our portfolio companies are adjusting to meet the needs of a world living with COVID-19. Below are some examples of Impact Engine portfolio companies that are using this opportunity to innovate and adapt their impact.
BookNook, a software platform focused on literacy and foundational reading skills for students in grades K-5, has launched a direct-to-parent offering in response to COVID-19. Using at-home tablets or computers, parents can download the BookNook app in order for their children to participate in BookNook’s various comprehension activities. The team is also offering the BookNook Remote license to any school or non-profit that has been closed due to COVID-19, free of charge.
ConsejoSano is a messaging platform that provides healthcare information and support to non-native English speakers. Their service, which was recognized by the California Health Care Foundation, is particularly necessary at this time. Both underserved and culturally diverse communities require urgent assistance in navigating the US healthcare system, and health systems need help providing critical facts and information about COVID-19. ConsejoSano currently offers translations, via text messaging, of CDC and WHO updates in 22 languages. The company also launched OutREACH, which provides free education campaigns to organizations in an effort to combat misinformation surrounding COVID-19.
Fixer, a B Corp focused on training and certifying underserved applicants in the skilled trades, is considered an essential business during this time. In addition to continuing to offer their core service of in-home repairs and projects, the team has developed video consultations; they are currently providing virtual assistance to customers in need of home repairs that they may be able to complete themselves. This allows customers to maintain social distancing while also supporting the continued employment for Fixers, who are full-time W2 employees with benefits.
The effect of COVID-19 on fruit and vegetable production in the US has been devastating. Since the majority of restaurants are closed indefinitely, farmers have been left with a crippling dip in demand, and are forced to throw out the surplus produce. At the same time, the economic effects of COVID-19 have left more Americans food-insecure. To address both crises in tandem, Full Harvest, a portfolio company that partners farmers and food businesses to sell excess produce, has responded by issuing a call-to-action for food banks to connect with its Supply Team.
FutureFuel helps people manage and reduce their student debt. In response to extremely high unemployment in the US, they waived the fees for FutureFuel Cares, which provides an assessment of debtors’ current repayment plan and presents options that can reduce the current payment hurdles. The product can also automatically enroll people into qualifying debt relief programs.
Insight+Regroup is uniquely positioned to address a growing need during the COVID-19 pandemic: remote mental health services for underserved communities. The company works with a range of organizations — employers, insurers, hospitals, and more — to increase access to its network of licensed behavioral health professionals. The team has also created a dedicated page on its website with a comprehensive list of resources, including a teletherapy offering for individuals, Inpathy.
Since its inception in 2017, PadSplit has created almost 800 affordable housing units by enabling homeowners to transition their private homes into multi-unit properties. Most PadSplit members, many of whom work in the restaurant and retail industries, are out of work as a result of COVID-19. To support them, PadSplit is in the process of raising $200,000 in emergency housing assistance funding and has worked with every property owner to waive late fee payments. The company is now offering Teladoc services to all members; if a member is experiencing symptoms, s/he can reach out to a doctor any time of the day, free of charge. Additional resources — from securing childcare to food — are listed on PadSplit’s website.
Sokowatch, a Nairobi-based company that completed our 2014 accelerator program, is a mobile e-commerce platform for informal retailers across Central and East Africa. Its systems offer extensive knowledge of the regions’ distribution networks, enabling the company’s alliance with Safe Hands Kenya. This alliance of Kenyan tech companies mobilizes the distribution of face masks, hand sanitizer, and disinfectants to Kenyans as protection against COVID-19. The deployment of sanitization goods is imperative, as social distancing in Kenya is particularly difficult due to very close living quarters and the need for families to work outside the home.
While the future remains uncertain, we are confident that the social entrepreneurs leading these companies have worked tirelessly and successfully to create positive impact in the face of COVID-19. As always, we are incredibly proud to work with them and we remain committed to supporting them. If you’d like to stay updated on a more frequent basis, you can follow us on Twitter where we share daily posts about portfolio-related news and accomplishments.
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