GiveGab, the fundraising and supporter engagement platform designed exclusively for nonprofits, has completed an initial close of $7.4 million Series A funding, led by Cayuga Venture Fund. This is less than three months after their official acquisition of Kimbia in January of this year.
"Cayuga Venture Fund was thrilled to lead the Series A Preferred round for GiveGab. Although many fundraising tools exist, GiveGab is one of the few that understands and enables nonprofits to execute flawlessly on the mission-critical task of engaging and managing donors and supporters. With recent tax law changes, donor engagement is more important than ever, and GiveGab's growing leadership in the space proves that nonprofits need and prefer GiveGab over its competitors," said Jennifer Tegan, partner and VP of finance/administration at Cayuga Venture Fund.
This funding was instrumental in GiveGab's acquisition of Kimbia, which has already proven to be a great combination for the market and all involved, while also providing growth capital for GiveGab to continue innovating in and serving the everyday fundraising and giving day space.
"We've been able to significantly increase our customer success and engineering teams, more than doubling our employee count to better serve our customers and partners," said Charlie Mulligan, GiveGab's CEO and co-founder.
"The integration of the Kimbia acquisition has gone even better than expected. We've been impressed by the dedication of the Kimbia team and their alignment with GiveGab's mission of creating More Happy Nonprofits," said Aaron Godert, GiveGab's COO and co-founder. "The joining of GiveGab and Kimbia was a natural fit and we're excited to see what the future holds."
Upwards of 40,000 nonprofits have raised more than $1.1 billion on GiveGab.
The nonprofit sector does amazing work every single day, and the GiveGab team is grateful for the opportunity to help them do that even more efficiently. Nonprofits using GiveGab have realized 98 percent of the intended donations - an unmatched level of efficiency in fundraising. GiveGab continues to develop next-generation tools to help the sector capitalize on this tremendous opportunity.
Said Mulligan, "We have seen significant consolidation of technology firms like GiveGab serving this market, which is very good for everyone. GiveGab's acquisition of Kimbia and GoFundMe's acquisition of YouCaring this year is just the beginning. There are many other opportunities in this space, which is exciting for all."
ABOUT GIVEGAB
GiveGab is modern, easy-to-use software that cultivates long-term giving relationships between nonprofits and their supporters by providing robust online fundraising, donor management, supporter engagement, Giving Days and more.