Community Funded, a B2B crowdfunding startup, announced on Thursday it has secured $1.81 million during a Series Seed round. The company reported it had a strong venture capital participation, which included Future Venture Capital Co., Ltd. of Japan, and also investors Ft. Collins-based Bill and Rachelle Fisher, along with Justin Crowley participated.
Founded by McCabe Callahan and Ryan Stover, Community Funded was created to help universities, nonprofits, and healthcare institutions engage their communities with crowdfunding and “Day of Giving” fundraising initiatives. Community Funded will use funds to meet growing demand for its products and services. Community Funded has reportedly served more than 45 organizations including The University of Chicago, Penn State University, Texas State University, Colorado State University and CU Anschutz Medical Center. Its staff has grown by 50% in the past six months.
Callahan, CEO of Community Funded, stated:
“In 2015, the global crowd fundraising industry raised an estimated $34 billion. Organizations are awakening to the tremendous power of digital engagement of donors. This new funding will enable us to meet the growing demand from national and international organizations that are interested in our technology.”
Yuji Fujinaga, Chief Strategy Officer of Future Venture Capital, added why the company decided to participate in the funding round:
“Future Venture Capital has invested in ventures that empower organizations and communities since its inception. So, it was a natural fit for us to invest in Community Funded because we share the common goal of empowering communities and organizations worldwide through technology that promotes engagement.”
Future Venture Capital Co., Ltd. (FVC) is a publicly traded venture capital investment company based in Japan on the Tokyo Stock Exchange’s JASDAQ market (Code: 8462). It has invested in 350 deals since its inception and currently manages 25 funds totaling over $200M USD in assets