INDIANAPOLIS, IN, BidPal Network has received a $5.6M Series B investment co-led by MK Capital and Allos Ventures. BidPal is the leading handheld bidding device company that has revolutionized charitable fundraising. This investment will help the company expand its support of non-profit fundraising to new markets.

"We are excited to have MK Capital and Allos Ventures on board to help guide our explosive growth," said BidPal Chairman and CEO Scott Webber. "These firms bring to the table tremendous technology expertise that will help us increase capacity and make an even greater impact in the non-profit space."

"We believe BidPal represents the future of charitable fundraising," said MK Capital Partner Kirk Wolfe. "As smartphones become more ubiquitous, BidPal will enable non-profits to leverage this trend to broaden their base of constituents and maximize donations."

BidPal uses handheld devices to wirelessly automate auction bidding, donations and payments for charitable fundraisers. The software drives additional bids and donations while streamlining the management of the event.

"Today, more than $18 billion is raised each year through charitable auction fundraising events," said Don Aquilano, managing director at Allos Ventures. "BidPal will help expand this fundraising pie by offering a convenient platform for connecting fundraising efforts."

BidPal is currently available in the Atlanta, Boston, Chicago, Cincinnati, Dallas-Fort Worth, Indianapolis, Los Angeles, Louisville, Miami, Minneapolis, Naples, New York, Orlando, Philadelphia, Raleigh, San Diego, San Francisco, Tampa, and Washington, D.C., markets. The Indianapolis-based company plans to expand into all major U.S. markets by the end of 2012.

As part of its expansion, BidPal is rapidly increasing its offerings. In August, BidPal launched a full event management software platform called myBidPal Planner Pro™. The platform enables non-profits to better plan and manage their auctions and donors before and after events. In June, BidPal introduced a fully integrated, secure payment processing solution.

About BidPal Network

BidPal Network improves charitable fundraising by wirelessly automating auction bidding, donations and payments. BidPal's handheld bidding devices eliminate paper bid sheets, while making bidding easy and exciting for guests. Because guests can bid from anywhere at any time, organizations greatly increase the number of bids per item. Comprehensive event management, real-time monitoring of auction proceeds, no-hassle express checkouts, and post-event reporting are just a few ways that BidPal is revolutionizing charitable fundraising. Visit www.BidPalNetwork.com or www.Facebook.com/BidPal or call 1-888-729-0399.

About Allos Ventures

Allos (www.allosventures.com) invests in early-stage technology companies in the Midwest, augmenting the capital provided by angel investors who have helped the companies reach a stage at which they are ready for their first institutional financing round. The fund focuses on industries where the Allos investment team has investing and/or operating experience - primarily software and technology-enabled business service companies. Allos' principals believe in the benefits of a "hands-on" approach to venture capital investing, which allows the firm's partner companies to leverage the business-building skills and resources developed by the Allos principals over the past decade, as well as those of the firm's investors, many of whom are successful entrepreneurs.

About MK Capital

MK Capital (www.MKCapital.com) is an established venture capital firm providing early stage and growth equity capital to companies in the digital media, software, and education technology sectors. MK Capital's general partners have all served as entrepreneurs themselves and, as venture investors, have a proven track record assisting entrepreneurs in their efforts to build great companies. MK Capital has offices in Chicago, Santa Monica, and Ann Arbor and manages over $250 million in venture capital. For more information, please visit www.MKCapital.com or follow MK Capital on Twitter at twitter.com/mkcapital.