SANTA MONICA, CA, InvolveSoft, the Community Engagement software vendor, landed $2.5 million in funding in a round led by Bonfire Ventures.
InvolveSoft, the Community Engagement software vendor, landed $2.5 million in funding in a round led by Bonfire Ventures. Investors in this round include Greycroft, Bertelsmann, Launch Capital, CrowdSmart and Noname Ventures. Previous funding came from Mucker Capital and others.
The Santa Monica-based company will use the funds to build on its SaaS application technology, expand sales channels and grow its already-unmatched volume of volunteer event content.
"Millennials are driving a huge shift in the way we think about hiring and retaining employees," said Gaurav Bhattacharya, InvolveSoft CEO and co-founder. "Finding exceptional tools to easily engage employees and contribute to the community are now First Order priorities. We're excited to support the evolution of business values while doing good across thousands of causes and communities."
The company launched its flagship Corporate Volunteer platform in early 2017 to accelerated sales success. One reason is InvolveSoft's access to almost 200,000 volunteer events at any time, solving one of the major challenges companies have in finding volunteer events across geographies, cause and skill options. It has since added Corporate Event Management and enhanced Business Intelligence tools. The SaaS platform can stand alone, and has resources for integration into existing HR applications.
Millennial Engagement and sales traction were just two of the factors that made the company attractive to investors like Mark Mullen, Co-founder and Managing Director of Bonfire Ventures.
"We're already active investors in companies that promote good and drive change in the workplace," stated Mullen. "InvolveSoft is the perfect, innovative fit for the explosive growth of workplace volunteering. Corporate culture is undergoing a revolution - 70% of larger U.S. companies now have Volunteer Time Off (VTO) programs. InvolveSoft's drives up employee participation rates, delivering a boon to corporate culture and the non-profit sector. All while slashing the administrative overhead. That value proposition really got our attention."
InvolveSoft's co-founders, Gaurav Bhattacharya and Saumya Bhatnagar, are on their second, successful mission-driven startup. They founded a software company that identified and reduced instances of female birth cessation across northern India. That company had a successful exit and regional governments now mandate use of the tool. In addition to the two co-founders, InvolveSoft has attracted senior entrepreneurial talent with experience in Human Resource Solutions and high-growth SaaS companies.
InvolveSoft, based in Santa Monica, is a SaaS-based employee community platform that streamlines corporate engagement events like team activities, volunteering, leadership & training, and diversity & inclusion. The platform helps build communities inside companies for employees to easily find, attend and share events, achievements, and more. Its clients see cultural growth along with the economic benefits of an engaged workplace. For more information visit www.involvesoft.com or call Jon Rosen at +1-805-973-7450.
About Bonfire Ventures:
Bonfire Ventures is an LA-based seed-stage venture capital firm founded by Jim Andelman and Mark Mullen. The firm invests exclusively in B2B software businesses, and typically leads or co-leads a startup's first priced round. We back extraordinary founders who are seeking to build world-class market leaders, and aspire to serve as those founders' most trusted advisors. Investments made by the firm's founders include The Trade Desk (IPO), Burstly (acquired by Apple), Edgecast (acquired by Verizon), Datapop (acquired by Criteo), MessageLabs (acquired by Symantec), Orbitera and Bitium (each acquired by Google), Rainforest QA, ChowNow, SteelHouse, EmailAge, Invoca, Honk and others. For more information visit www.bonfirevc.com.
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