MobileCause, a mobile, social and online fundraising platform, announced on Monday it raised $15 million during its Series B funding round, which was led by New York-based technology-focused growth equity firm Level Equity. According to MobileCause, the Series B funding round’s funds will be used to fuel acceleration in product development for MobileCause’s industry-leading cloud fundraising platform and expand all aspects of the company’s efforts in sales, customer success, and marketing.
“The rapid growth of our business has created a need to scale our team and expand our product offering. This funding will allow us to accelerate development of new products and put systems and people in place to maintain the level of quality MobileCause customers have come to expect from us. We selected Level Equity from among multiple top firms because we greatly value their collaborative approach to working with the management teams of high growth technology companies. We have set ambitious goals for our business over the next few years and believe having them as an investment partner with deep expertise in vertical market software will meaningfully enhance the velocity of our business.”
Sarah Sommer, Partner at Level Equity, added:
“We’ve been impressed by the strong growth that Sean and the MobileCause team have delivered to-date. We are excited by the tremendous opportunity that exists for nonprofits to expand their fundraising efforts through mobile and online channels. We believe that MobileCause has the right combination of technology, digital fundraising expertise, and customer service to help their clients achieve their fundraising goals.”
Sommer will also be joining MobileCause’s board of directors.