Classy, the leading cloud-based fundraising platform that helps nonprofits and social enterprises mobilize and empower communities, today announced several major milestones, including an $18M growth round of funding led by Mithril Capital Management, the leading technology growth capital firm founded Ajay Royan and Peter Thiel.
The financing will allow the company to expand its product and bring its platform to even more organizations around the world. Michael Young, the former Chief Technology Officer at Redfin and Plumtree, is also joining Classy as its first CTO.
Scot Chisholm, CEO and co-founder of Classy, shared:
“Generational and technological shifts are changing the way social impact organizations attract and engage with supporters faster than ever. Eighty million millennials will make up more than 50% of the workforce in less than five years and their overwhelming preference is to engage online and throughmobile. Still, only 10% of the $360 billion that nonprofits raised in the United States last year was raised online; but this is about to change in a big way.
“Classy enables social impact organizations to make that technology transition, tap into this tremendous opportunity and alleviate a lot of their financial and operational burdens so they can concentrate on what’s most important – solving the world’s social problems.”
Mithril led Classy’s growth round, with investors Salesforce Ventures, Bullpen Capital, Venture51, Galileo Partners and Rethink Impact also contributing. $2M of the $18M round has been reserved for certain strategic investors.
“Millions of lives are saved, improved or enlightened by passionate people who devote their careers to creatively advancing a vital cause. Simple and elegant tools can combine the resources of doers with the resources of donors to create exponential social impact. That is why the most talented social entrepreneurs, from SamaSource to Team Rubicon, from Special Olympics to Heifer International, are all fueling their missions on Classy.”
With the trend from offline fundraising to online fundraising only accelerating, Classy has seen massive demand from social impact organizations around the world:
- Classy is now working with over 1,500 of the world’s top nonprofits and social enterprises including Oxfam, National Geographic, Heifer International and Team Rubicon.
- Organizations using Classy grow their own fundraising on average by 225% year-over-year and are 330% more efficient in their fundraising efforts.
- Classy’s business is on pace to grow 3.5x in 2015 with momentum accelerating in all areas of the United States; 77% of new customers in Q2 were from outside of California.
“The Classy platform has transformed the way that people around the world support Team Rubicon veterans as we respond to natural disasters like Hurricane Sandy or the recent earthquake in Nepal. The Classy toolset makes it very easy for us to get a campaign up and running in minutes and mobilize our supporter base. Because of that, our fundraising has grown 2,000% since our first year using Classy.”
Suzanne DiBianca, president and co-founder, Salesforce Foundation, added:
“At the Salesforce Foundation, we are passionate about using technology to change the world. Classy is another amazing example of the powerful impact that technology can have, and I’m thrilled to be joining the Classy advisory board.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!