iDonate, a leader in digital giving software and solutions, has completed a $15.2 million round of Series B financing dedicated to business development and continued growth.
The growing Plano-based company, whose tagline is “innovating generosity,” says the capital will help it scale operations globally.
iDonate added its 500th enterprise customer this year, marking a compound annual growth rate of new customers that exceeds 55%, according to the company. Its net revenue retention for customers currently sits at more than 115%.
Those numbers represent thousands of chapters and donors connected.
The raise was led by MissionOG, a Philadelphia-based investment firm, with additional participation from existing investors PerformanceEdge Partners and The Miles Foundation. It follows an $8.7 million funding round iDonate raised last year to expand its technology’s functionality.
Connected giving
Launched in 2012, iDonate provides fundraising software to boost the impact of nonprofits.
It’s primarily geared toward connecting and engaging donors: Through various giving channels, nonprofits are given tools to cultivate personalized experiences that lead to increased donations. The nonprofits are given total control of how they reach donors—iDonate’s patent-pending Software Developer Kit offers customization of each solution for any campaign.
The organization’s patented Connected Giving platform supports web, mobile, event, text, peer-to-peer, and non-cash giving. The platform complements any nonprofit’s existing customer relationship management (CRM) systems.
The digital giving system also uses integrated payment applications, performance analytics, and success coaching to ensure nonprofits will undergo immediate and sustainable growth.
Clients in faith, education, human services, and healthcare
Nonprofits in faith, education, human services, and healthcare deploy the tech. iDonate customers include Guide Dog Foundation, Midwest Food Bank, Acts 29, ROGO Foundation of Sandals Church, Campus Outreach, affiliates of United Way, and Oklahoma Baptist University.
By remaining committed to generosity and innovation—along with its mission to “create a more generous world”—iDonate says it’s grown into the world’s standard for donation processing technology.
“Our mission has always been to help nonprofits stand out by creating incredible giving experiences,” iDonate’s CEO Ray Gary said in a statement. “Today, donors expect an experience much like those at Uber, Amazon, or Netflix. We have sought to eliminate tedious administration tasks and hard-to-understand systems, all for the ease of leveraging data intelligence in a multi-system, multi-tier organization.”
Expansion continues
Gary said the investment from MissionOG will allow the iDonate team to leverage its core platform to attract, retain, and grow any nonprofit’s donor base. That’s more important than ever in today’s socially networked world.
According to the company, its platform has become a standard within many customers’ organizations—leading to an average 30% yearly growth of digital giving.
That’s because iDonate focuses on both attracting new donors and promoting recurring giving. For instance: Customer ZOE International has seen a 20% increase in recurring giving since the fall of 2020.
iDonate said it plans to use the Series B to specifically accelerate sales, marketing, and the support of Connected Giving. It additionally wants to propel future development of its product roadmap.
MissionOG, which partners with high-growth businesses that have proven models, will act as a partner as the iDonate team works to accelerate giving across the globe. With the deal, MissionOG Managing Partner Andy Newcomb will join iDonate’s board of directors.
“With digital giving beginning to generate the kind of momentum that we’ve witnessed in consumer e-commerce, we now see the rapid shift that organizations are making from offline to online donation management,” Newcomb said in a statement. “iDonate’s team, platform, and unique approach will serve them well as they continue to scale their business.”
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