Classy, a cloud-based fundraising platform that helps nonprofits and social enterprises mobilize and empower communities, announced on Tuesday it raised $30 million during its Series C funding round, which was led by JMI Equity with participation from existing investors Bullpen Capital, Galileo Partners, Mithril Capital Management, and Salesforce Ventures. The website revealed it plans to use the funds to expand its engineering and design team as a way to help nonprofits of any size migrate to the cloud. Classy will also continue to invest in four main areas fundraising, recurring donation management, internationalization, and Classy for Salesforce.
Scot Chisholm, CEO and co-founder of Classy, stated:
“Social enterprises are tackling some of the world’s biggest problems and our goal is to give them the very best technology to accelerate the pace of their impact. The partnership with JMI will allow us to do just that by delivering new features and products that help organizations grow their online fundraising and automate operations so they can remain focused on their relationships and their program results.”
Brian Hersman, General Partner at JMI Equity, will join the Classy’s board of directors as part of the funding round. He shared:
“The fundraising market is increasingly moving to online and mobile channels as a way to drive increased revenue and improve the donor experience. Classy is one of the most secure, supporter-centric and fastest-growing fundraising platforms in the world and is well positioned to capitalize on this trend. We look forward to partnering with Classy to support its continued product innovation in the years ahead.”
Chisholm added:
“Classy started as a group of friends looking to raise money for cancer research. What we found was a lack of modern and mobile-friendly tools that could help social enterprises mobilize and empower their supporter base. So we created Classy, a technology platform built by fundraisers, for fundraisers. Today Classy powers over 2,500 social enterprises that raise hundreds of millions of dollars every year to help solve the world’s toughest social problems.”
