Salsa Labs Gets Spicy With $5M
Edison Ventures Invests in Salsa Labs, an SaaS Leader for Organizing and Engaging Supporters.
LAWRENCEVILLE, NJ, Edison Ventures announces a $5 million investment in Washington, DC-based Salsa Labs. Their suite of online applications enables associations, non-profits and campaigns of all sizes to engage and organize supporters. Proceeds from the company's first institutional round will increase investments in development, marketing and sales to accelerate growth.
Salsa's social networking and interactive products empower thousands of non-profits and associations to communicate with supporters, activists, members, customers and donors. 30,000 end users depend on Salsa software to build relationships and engage over 40 million members. Salsa's platform has the most complete and tightly integrated suite of applications in the market, including supporter management, email communication, social media, advocacy, fundraising, event management and dashboard reporting.
Sever Totia, Principal at Edison Ventures noted, "Salsa's innovative products and strong management team are achieving extraordinary market acceptance and growth. The company's next generation applications address a large underserved market as non-profit organizations must connect with members online and via social networks more then ever". "Customer's praise Salsa's complete, integrated yet flexible solutions", remarked Rob Finn, Edison Associate who led diligence. Sever Totia joined the Salsa Board of Directors, along with Scott Stouffer former CEO of Edison-backed success, Visual Networks.
"Edison quickly understood Salsa's value proposition and market potential. Company building expertise and strategic value add make Edison an ideal partner", stated Chris Lundberg, Salsa's CEO. Bill Donnelly, Salsa President, participated in two Edison IPOs, Best Software (25X return) and Vocus (12X return).
Edison's Interactive Marketing and Digital Media investment segment encompasses advertising technology, mobile solutions, ecommerce and investments in the social media economy. Notable investments include ACT!, Cadient, Dendrite, Exclaim, Operative, Lifebooker, NetProspex and Vocus.
Edison has made 34 investments in Maryland, Virginia and DC area. Segment leaders include Fishbowl, Liberty Tax, Motionsoft, NSI, Regent and Telarix. IPOs achieved by Axent, Best Software, BTG, Visual Networks and Vocus.
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison's investment professionals are based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH. Industry specialties include financial technology, healthcare IT, interactive marketing and ecommerce. Edison's successes include Cambridgesoft, Gain Capital, Marcam, Mathsoft, Neat, Octagon, Tangoe, Virtual Edge and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $700 million and actively making new investments.
About Salsa Labs
Salsa Labs is the creator of the leading online platform for organizing and engaging people. In one easy-to-use, integrated, and flexible platform, groups of all sizes can manage their supporters, communicate, fundraise, advocate, host events, and much more. Organizations can create their own unique recipe for organizing by choosing from the dozens of available software tools as well as by plugging in dozens of other applications produced by 3rd parties in the Salsa Market. Salsa's software and services suite currently support over 2,000 user groups' relationships with over 40 million supporters, members, donors, activists, and fans all around the world.
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