EverTrue Secures $8 Million in Series B Funding Led by Bain Capital Ventures
Social donor management innovator to accelerate product development and operational capabilities with latest round of financing
BOSTON, Oct. 15, 2014 /PRNewswire/ -- EverTrue (www.evertrue.com), a social donor management platform, today announced $8M in Series B funding led by Bain Capital Ventures, with participation from Silicon Valley Bank. This latest round of funding brings the company's total financing to $14.5M. EverTrue plans to use the capital to support further investments in engineering, data science and customer success.
TechStars Boston alumnus and MassChallenge winner EverTrue works with more than 250 organizations, including leading higher education institutions and independent schools. Powered by social networks including LinkedIn and Facebook, the EverTrue platform provides real-time intelligence to support donor identification and prospect management.
"We continue to be bullish on the opportunity to bring for-profit sales and marketing intelligence to the non-profit sector," said Mike Krupka, Managing Director of Bain Capital Ventures. "EverTrue's continued growth and focus on customer success is supported by the addition of large enterprises, including Boston University, to its list of over 250 customers."
Current customers of EverTrue's platform include Colgate University, Brown University and Oregon State University.
"The continued backing of Bain Capital Ventures is validation for our vision for social donor management," said Brent Grinna, Founder and CEO of EverTrue. "By connecting traditional donor management systems with social platforms and delivering industry-leading social, mobile and web experiences, EverTrue is radically simplifying the way non-profits build relationships with potential donors."
"EverTrue offers one of the most promising products I have ever seen," said Scott Nichols, Boston University's Senior Vice President of Development and Alumni Relations. "The early results for Boston University have exceeded our expectations so fully that we are now committed to making it available to everyone in our fundraising organization. Seldom does something come along that has the ability to be so helpful so quickly. I am excited about what EverTrue is doing for BU but even more excited for what this will mean for professional fundraising."
About EverTrue
EverTrue was founded at Harvard Business School in 2010 with a vision to reinvent non-profit fundraising for a social and mobile era. EverTrue's platform was built from the ground up on LinkedIn's API to support the needs of alumni relations and development professionals. EverTrue's Software-as-a-Service (SaaS) product lives in the cloud, providing non-profits with powerful tools without expensive software licenses, large investments in new hardware, or dedicated IT staffs. EverTrue is a graduate of TechStars Boston and was selected as a winner of MassChallenge.
About Bain Capital Ventures
Bain Capital Ventures is the venture and growth affiliate of Bain Capital. BCV manages more than $2.9 billion of committed capital and has over 80 active portfolio companies. BCV invests from seed-stage through growth equity in companies focused on technologies and technology-enabled services aimed towards enterprise customers. BCV has offices in Boston, New York and Palo Alto. The firm has helped steer many ideas to success by partnering with talented and passionate management teams and deeply collaborating with them on long-term strategies. For more information please visit www.baincapitalventures.com or follow us at @BainCapVC.
About Silicon Valley Bank
Banking the world's most innovative companies and exclusive wineries, SVB offers diverse financial services, knowledge, global networks, and world-class service to increase our clients' probability of success. With more than $33 billion in assets and more than 1,700 employees, we provide commercial, international and private banking through our locations around the world. Forbes Magazine ranks us among America's Best Banks and Fortune named SVB one of the best places to work. www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System.
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