iDonate Secures $10M Series A Funding
DALLAS--(BUSINESS WIRE)--Oct 3, 2018--iDonate, a leading provider of donor engagement solutions, today announced a $10 million Series A funding round. This financing will allow the company to augment its platform with the next generation of donor-centric features, including data analytics, peer-to-peer features and donor engagement functionality. The round is led by PerformanceEdge Partners (PEP), a venture capital company focused on software-as-a-service (SaaS) growth businesses, and includes additional funding from existing and new investors such as the Miles Foundation.
“Today’s donors expect every interaction with the nonprofits they support to be as easy and personalized as ordering a package from Amazon or a ride from Uber,” said Ray Gary, CEO of iDonate. “Our goal is to equip nonprofits to understand, nurture and empower their donors in a way that lead to greater generosity. This financing allows us to provide our customers with a comprehensive donor-engagement platform and deepen the connection between nonprofits and the donors they serve.”
iDonate was designed from the ground up to accelerate the impact of nonprofit work by increasing donations. From its roots as the world’s first non-cash-donation technology provider, iDonate has expanded its platform to cater to every donation type, style and preference. The platform complements nonprofit customers’ existing customer relationship management (CRM) systems and includes multiple giving channels such as website, peer to peer, text and event.
“iDonate has the winning combination of a solid foundation and inspiring vision of what today’s donors need to give more to the causes they care about,” said Phil Myers, general partner at PerformanceEdge Partners (PEP). “Their recent growth in acquiring new enterprise customers and large-scale original equipment manufacturer channel partners has been impressive. With now thousands of nonprofit success stories, we believe this investment will enable the company to scale much faster and accelerate a new wave of giving.”
iDonate is now poised to support both nonprofits and donors throughout the giving journey. Using iDonate’s technology, donors have increased flexibility in how they can give and are able to seamlessly engage their community. Also, nonprofits will have access to real-time analytics to engage with donors on a more personal level and assess the effectiveness of their campaigns.
“Since we began working with iDonate, we have experienced a 41-percent increase in both average gift size and total giving and a 90-percent increase in recurring gifts,” said David Ritchie, senior director of business intelligence, analytics and data services at Thomas Jefferson University and Jefferson Health. “The integration of all funds raised throughout our system is the biggest key to our success. We look forward to iDonate’s rollout of additional engagement and analytics capabilities, as these enhancements should help us achieve even greater results.”
As a result of this funding round, iDonate plans to unveil new capabilities in the fourth quarter and has increased staff to grow faster in 2019.
iDonate provides donor engagement solutions that connect today’s donors with the causes they care about, building relationships through great giving experiences that attract, retain and grow donor communities and donations. The iDonate Donor Engagement System combines cutting-edge SaaS technology, multi-channel fundraising systems and services to expand donor databases to provide actionable insights that optimize growth. Launched in 2014 and headquartered in Dallas, Texas, iDonate’s mission is to transform charitable giving and drive growth for our partners so they can make bigger impacts on the world. For more information, please visit www.idonate.com.
About PerformanceEdge Partners
PerformanceEdge (PEP) is a business acceleration firm for SaaS technology companies that provides investment capital and management services to high-growth businesses. PEP specializes in launching small and medium-sized businesses (SMB) into market leaders in their category. The capital and services they provide enable tech CEOs to ‘tune in’ their business strategies and create ‘frictionless’ business models that scale. Launched in 2008, PEP’s portfolio includes businesses that span Big Data, CRM, Marketing Automation and Charitable Giving spaces. For more information, please visit www.pepgrowth.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181003005139/en/
CONTACT: for iDonate
Katie Long, 972-850-5872
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PHILANTHROPY PROFESSIONAL SERVICES FINANCE FOUNDATION FUND RAISING
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PUB: 10/03/2018 04:00 PM/DISC: 10/03/2018 04:01 PM