Rob Pace wants to upend the world of data analytics and help the nation’s cash-strapped nonprofits in the process.
The 58-year-old founder and CEO of Addison-based HundredX Inc. is paying millions of dollars to nonprofits — from youth sports teams to rare-disease charities — for simply getting their supporters to speak their minds about consumer companies and brands.
In return, HundredX is rapidly building a treasure trove of data gathered from anonymous, diverse and geographically spread-out people. Companies that subscribe can delve deep into the data to see how they’re doing on all sorts of fronts.
The former senior partner of Goldman Sachs and a past national chairman of The Salvation Army calls it data for good.
“We have the easiest way to raise money ever, and the product is better,” Pace said.
“Instead of holding bake sales, washing cars or selling concessions at sporting events, a qualified nonprofit can typically earn two bucks for every smartphone survey that its supporters complete.”
It works out to about $100 per volunteer survey-taking hour.
HundredX is paying $500,000 a month to nonprofit organizations of every size and kind. Pace hopes that will grow to $500,000 per day.
That’s not as farfetched as it might sound, says Clark Hunt, CEO of Dallas-based Hunt Sports Group, who is among the early-stage investors and adopters.
“At first I was like, ‘I don’t understand this,’” said the 56-year-old owner of the Kansas City Chiefs and FC Dallas….