Breaking Barriers: Gloo’s New Investment Paves the Way for Unprecedented Growth in the Faith Community
Gloo, the leading technology platform dedicated to connecting the faith ecosystem and unleashing its collective might, announced the completion of a $110 million financing round. This new funding will accelerate the development of the Gloo platform—which includes free and premium ministry tools and marketplace offerings—while channeling new investment capital toward ministry-based technology, products, and services.
Read More
“So often faith-aligned capital leaves the faith ecosystem,” said Scott Beck, Gloo CEO and co-founder. “That means ministries that need the goods, services, and capital to fuel their growth don’t have access to essential resources. Our goal with this investment round, funded by 100% mission-aligned investors, is to reinvest the capital back into the ecosystem in the form of capital investments and continued development of our growing platform that connects the faith community at scale.”
New Services for the Faith Community
The investment aligns with plans to expand the Discover marketplace on Gloo, which offers the faith community a comprehensive range of free and premium products and services that meet the specific and ongoing needs of ministry leaders.
“Gloo is accelerating our investment in marketplace motions to create uniquely curated experiences tailored to the faith ecosystem,” said John Fowle, chief financial officer at Gloo. “Investing in a marketplace is not just about enhancing our platform; it’s about empowering our users with the tools and resources they need to make a positive impact in their communities.”
Accelerating AI for Faith-Based Orgs
The company is planning further investments to accelerate AI specifically tailored to the faith ecosystem. With a potential AI market size reaching into the trillions within the next decade, Gloo recognizes the growing need for faith leaders to leverage technology responsibly. Through its AI & the Church Initiative, upcoming AI hackathon, and other ventures, Gloo has become a leading voice in responsible and innovative use of AI for the faith ecosystem.
Earlier this year, Gloo launched a new division, Gloo Ventures, focused on investments in and acquisitions of organizations that bring value to the faith community. The division will include investments in AI-based tools to help church leaders responsibly leverage the technology.
“It’s clear to us that the faith community is seeking greater connection,” said Beck. “The Gloo platform is already enabling those connections in a variety of ways, including enabling over 25MM text-based ministry interactions, connecting over 400K people in need to local ministries and resources, and enabling the exchange of value between thousands of ministry equipping partners and over 70K Gloo churches. No single person, ministry, or church could do this on their own. We’re seeing silos breaking down and collective might at work.”
Mission-Aligned Investors
Gloo’s 2024 funding round included investments from a diverse group of mission-aligned partners, including a leading partner in small group content, a major global child development ministry, a major denominational provider of financial services, and one of the largest providers of church building and development loans. This approach aligns with Beck’s long-term vision that mission-aligned partners, and ultimately the “big C” (Church at large) Church, would be significant owners in the platform.
“We choose our investors carefully,” Beck said. “Finding close missional alignment, driving great financial outcomes, and guarding against mission drift are key drivers for us. Ultimately, our commitment is to connect the faith community so every ministry can achieve its mission. We’re committed. We’re resourced. And we’ve never been in a better position to achieve this goal.”
