Classy.org has successfully raised $65.5 million over three funding rounds, establishing itself as a leading fundraising platform for social good organizations. The platform offers a comprehensive suite of tools for online donations, crowdfunding, peer-to-peer fundraising campaigns, and event registration.
Keep reading to explore the intricacies of Classy.org's fundraising journey and the investors backing this innovative platform.
What Is Classy.org?
Classy.org, founded in 2011, is headquartered in San Diego. The company was established by Pat Walsh, Scot Chisholm, Joe Callahan, and Pete Nystrom.
Classy.org provides an all-in-one fundraising platform for social good organizations, enabling online donations, crowdfunding, peer-to-peer fundraising campaigns, and event registration.
With a team of 51-200 employees, Classy.org has empowered 1.3 million people across 300,000 individual campaigns to raise over $130 million for social good organizations.
How Much Funding Has Classy.org Raised?
- Funding Round: Series C
- Amount Raised: $30,000,000
- Date: November 2016
- Lead Investors: JMI Equity
- Motivation Behind the Round: Hiring, product development, expansion, and investment in AI and marketing automation systems to improve donor retention.
- Funding Round: Series B
- Amount Raised: $18,000,000
- Date: June 2015
- Lead Investors: Mithril Capital Management and Salesforce Ventures
- Motivation Behind the Round: To expand the engineering team and operations across the U.S., and to provide advanced technology to nonprofits and social enterprises to enhance their operational efficiency and effectiveness.
- Funding Round: Series A
- Amount Raised: $17,500,000
- Date: June 2019
- Motivation Behind the Round: Not specified
Total Amount Raised: $65,500,000
Current Valuation: Not disclosed
Key Investors
- JMI Equity
- Details: JMI Equity is a private equity firm based in San Diego, specializing in growth investments in software companies. Founded in 1992, the firm has invested in over 150 businesses.
- Investment Focus Areas: Software-as-a-Service (SaaS), healthcare IT, business services
- Notable Investments: ServiceNow, PointClickCare, Seismic
- Mithril Capital Management
- Details: Mithril Capital Management is a growth-stage venture firm co-founded by Ajay Royan and Peter Thiel. The firm focuses on long-term investments in technology companies.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Palantir Technologies, Helion Energy, AppDirect
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. The firm aims to extend the capabilities of the Salesforce platform.
- Investment Focus Areas: Enterprise software, cloud computing, artificial intelligence
- Notable Investments: Zoom, DocuSign, Twilio
- Bullpen Capital
- Details: Bullpen Capital is an early-stage venture capital firm that invests in post-seed companies. The firm was founded in 2010 and is known for its focus on companies that have achieved initial traction.
- Investment Focus Areas: Technology, consumer products, enterprise software
- Notable Investments: FanDuel, Ipsy, Namely
- Galileo Partners
- Details: Galileo Partners is a venture capital firm that invests in early-stage technology companies. The firm has a strong presence in Europe and focuses on innovative startups.
- Investment Focus Areas: Technology, healthcare, digital media
- Notable Investments: Criteo, Meetic, Netvibes
What's Next for Classy.org?
Classy.org stands at the cusp of significant growth opportunities. With plans to expand both within and beyond the U.S., the company aims to leverage its integration with Salesforce and other enterprise apps to enhance donor retention through AI and marketing automation. Serving over 2,500 organizations, Classy.org is on track to hit a $1 billion run-rate on donations, showcasing the vast potential in the nonprofit sector.
Future fundraising rounds seem likely as Classy.org continues to develop new features and expand its market reach. However, the company faces challenges such as high churn rates in the nonprofit sector and competition from established players like Blackbaud. Convincing traditional nonprofits to transition to online fundraising methods will also be crucial for sustained growth.
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