By: Kestrel Linder, Co-Founder and CEO of GiveCampus
Better fundraising technology isn’t a ‘nice to have.’ It is a must-have. Without more effective fundraising, schools have to choose between increasing tuition and cutting costs–both of which harm students and hinder social mobility. We created GiveCampus as a bulwark against these undesirable outcomes: our mission is to help advance the quality, the affordability, and the accessibility of education by equipping fundraisers at schools with the technology needed to engage more donors and drive more dollars.
With this mission in mind, we are excited to announce that we have raised $50 million in a minority growth equity financing led by Silversmith Capital Partners and joined by several others including Y Combinator’s Michael Seibel, Stripe’s Claire Hughes Johnson, and founding HubSpot team member, Mike Volpe.
We will use this capital to build more cutting-edge technology specifically and exclusively for fundraisers at educational institutions. We will continue enhancing our industry-leading online giving solutions and we will expand our platform’s enablement of the critical workflows that come before and after a donor makes a gift: identification, engagement, solicitation, and stewardship.
This is the first time we have raised capital since raising less than $1 million from family, friends, angel investors, and Y Combinator in 2015. Over the last seven years, we’ve been deepening our understanding of fundraisers’ needs, delivering as much value as possible to the schools in our community, and making sure we are building a lasting business that thrives on its own–by pursuing aggressive but sustainable growth. Looking back, we are immensely proud of what we have accomplished. Since our founding, we have:
- Facilitated more than $2 billion in charitable giving to more than 1,000 colleges, universities, and K12 schools;
- Surpassed an annual revenue run-rate of $20 million;
- Donated $1 million in free fundraising support through The GiveCampus Social Mobility Initiative; and
- Achieved six consecutive years of profitability and positive cash-flow.
Our mission has never been more important, and this financing marks the beginning of the next chapter of growth and opportunity for our company. Although we are proud of the impact we have had, we’ve barely scratched the surface of our ambitions. These are still early days at GiveCampus.
We are privileged to serve thousands of educational fundraisers around the world, and we would not be where we are today without them and the trust they have placed in us. We are grateful to each and every one of you, and we look forward to helping you drive the next great wave of philanthropy for education in the years ahead.