Los Angeles based nonprofit fundraising software startup Funraise has raised a $9.7m Series A Round led by Toba Capital, after raising a $3m Seed Round in August 2017.
"We see the challenges nonprofits face in today's modern world," said Funraise's CEO and CoFounder Justin Wheeler. Almost $400 billion was given to philanthropic causes last year, and most of this was by individuals. " Since founding Funraise in 2016, former nonprofit and technology leaders Justin Wheeler (CEO), Tony Sasso (CPO), and Jason Swenski (CTO), have grown the Long Beach-based team to 28 full-time employees and signed nearly 400 customers, including the National Wildlife Federation, Action Against Hunger, Dressember and Prostate Cancer Foundation. Funraise has also developed campaigns for Walgreens and Major League Baseball. According to CMO Meagan Kirkpatrick, "Over 30,000 individuals have signed up to fundraise for causes, and more than $45 million in donations has passed through Funraise in eighteen months."