Givebutter Announces $50M Investment From Bessemer Venture Partners' BVP Forge
Givebutter, a nonprofit fundraising and CRM platform, announced that it has closed a $50 million strategic growth investment led by BVP Forge, Bessemer Venture Partners' dedicated investment fund for self-sustaining, growing companies, with participation from existing investor Ardent Venture Partners. The funding follows another year of rapid and profitable growth for Givebutter, during which total donations on the platform crossed $1 billion.
"Givebutter is set to become the leading platform for nonprofits to better engage their donors and amplify their missions," said Navid Oreizy, Partner at BVP Forge. "We look forward to leveraging Bessemer's proven track record with category-defining companies like Shopify, Canva, and Toast to further accelerate Givebutter towards its goal of becoming the operating system for nonprofits."
Since its founding, Givebutter has emphasized profitable and efficient growth, scaling to millions in revenue at accelerating growth rates. This rare feat was accomplished without mergers or acquisitions, which have burdened many nonprofit organizations seeking an all-in-one solution elsewhere. In the past year, Givebutter has become the highest-rated solution for Nonprofit CRM and Donor Management on G2, thanks to the nonprofit community's trust in its home-grown, one-of-a-kind, modern platform.
"Changemakers are at the heart of everything we do at Givebutter, and this investment represents an investment in them. We are building the home for changing the world, and there's no butter place for nonprofits to be," said Max Friedman, co-founder and CEO of Givebutter.
This investment will accelerate the development of Givebutter's all-in-one fundraising and CRM platform, which 35,000+ nonprofits now rely on to raise more for their missions. Givebutter's seamless platform provides nonprofits with a 360º view of their donor data alongside a complete set of industry-leading fundraising solutions, including donation forms, fundraising campaigns, events, auctions, texting, email, direct mail, major giving, and more. Later this year, Givebutter plans to launch a first-of-its-kind workflow solution to help nonprofits automate tasks and donor journeys across its all-in-one platform, saving time and growing impact.
"Givebutter has built an incredible product, team, and community which we are excited to help supercharge in the years to come," said Brian Cramer, BVP Forge Operating Partner. "They're already on a roll and it's only going to get butter from here."
Additional plans to increase investment in Givebutter's community of changemakers are already underway. These plans include both new and existing customer-focused initiatives, such as expanding Givebutter's award-winning, free customer service to be available 24/7 and growing the impact of Givebutter Gives Back, the company's philanthropic initiative for elevating and directly supporting nonprofits on the platform.
"It's incredible to see the impact our technology has had on so many organizations and the impact those organizations have had on the world. Our team is energized, and we're only getting started," said Liran Cohen, co-founder and CTO of Givebutter.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.
