A fast-growing start-up which helps people find ‘good things to do’ in their community has secured a Future Fund grant, with the legal support of Harper James Solicitors.
Do IT, which is revolutionising the sectors it operates in, will now use the £250,000 to help move forward in its ambitious plans to become an industry leader in their field.
The company is looking to scale up after seeing demand for what they call their ‘market-network’ (a social network meets marketplace) soar during the pandemic, as rising numbers of people offer their time to help others. Supporting ambitious businesses with the expert guidance they need to raise finance, enabling them to grow and achieve their goals is one of Harper James’ specialities.
Reflecting on their success, and their hopes for the future, Alastair McGregor, Do IT’s Chief Operating Officer, said: ‘Do IT is a new type of network. We make it easy for people to find good things to do, on their own and with other people, making them feel healthier and happier as a result. We already support over 50,000 organisations and have over 100,000 users, and hope to have 500,000 within 12 months. We monetise our network through a SaaS model and we never sell data for advertising, ensuring users have complete control over their data is one of our core values.
‘While COVID has naturally caused some disruption, the market need for what we do has grown as a result of the crisis. Wellbeing, community and culture has never been more important, and our corporate, SME and our council customers are all stepping up their spending on employee and citizen engagement on these issues.’
Commenting on the support received from Harper James Solicitors he added: ‘It’s been great: Harper James have been incredibly professional and responsive. It has given us the confidence to be able to move forward as a business and build towards the ambitious plans we have.’
Do IT connects people and organisations around shared purpose and positive experiences such as volunteering. Their mission is to create a kinder world, where social wellbeing is better for everyone.
Jas Bhogal, the corporate solicitor who worked on the funding round, said: ‘We were delighted to be able to assist Alastair and his brilliant team in their application for a Future Fund grant. It has been fantastic to see how Do IT has grown and as an on-demand client, to support them with the full range of legal services they need.’
The government’s Future Fund was a pandemic initiative to support innovative and growing companies. The scheme which launched at the end of May offers convertible loans ranging from £125,000 to £5m from the government, subject to at least equal match funding from private investors.