DALLAS, TX, iDonate, the leading provider of digital giving systems, today announced an $8.7 million funding round.
The financing will allow the company to fully integrate iDonate Payments into its core platform creating a SaaS/Payments solution that supports new tender types such as Apple Pay and Google Wallet, as well as international payment processing. Additionally, the funding will accelerate more functionality designed to personalize the donor experience and help nonprofits be more efficient as they grow their causes through digital donations. The round is led by PerformanceEdge Partners (PEP), a venture capital company focused on software-as-a-service (SaaS) growth businesses, and included several existing investors.
"Over the next several years we expect digital donations to make up the majority of all donations. Nonprofits must invest in the tools to handle this wave of new donations by connecting to their donors in ways that meet their expectations of a modern online experience. Today's donors are empowered consumers who expect their online experiences to be simple, secure and even fun-like calling an Uber. We call these types of online experiences for donors 'great giving experiences,'" said Ray Gary, CEO of iDonate. "This financing allows us to continue building these great giving experiences for causes that are positively changing the world."
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 noncash-donation technology provider, iDonate has expanded its platform to cater to every donation type, style and preference. The platform complements any nonprofit's 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 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.
"We're raising more money from more people much more easily than we've ever done in the past, thanks to iDonate," said Wells Jones, Executive Director of the substantial 70-year-old nonprofit Guide Dog Foundation (www.guidedog.org).
In addition to providing personalized giving experiences, nonprofits will have access to real-time analytics to engage with donors on a more personal level and assess the effectiveness of their campaigns.
As a result of this funding round, iDonate plans to unveil new capabilities throughout the year and has increased staff to grow faster in 2020.
iDonate is a digital giving software company that delivers an enterprise-class system for nonprofit leaders around the globe. Its software solution allows nonprofit organizations to facilitate any type of online gift in a customized donor experience. iDonate represents nearly 1,000 of the top nonprofits in faith, education and healthcare. iDonate was launched in 2014 and is headquartered in Plano, Texas. 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.
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