Givebutter, the all-in-one nonprofit fundraising and CRM platform, closed a $50 million strategic growth investment led by BVP Forge, Bessemer Venture Partners’ dedicated investment fund for self-sustaining, growing companies. There is also 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. While the platform is offered for free, the firm makes revenue from donors adding a fee to the donation. Information on the firm website is that 95% of donors pay the fee refrred to as a tip.
This investment will accelerate the development of Givebutter’s fundraising and CRM platform used by more than 35,000 nonprofits. Later this year, Givebutter plans to later this year launch a workflow solution to help automate tasks and donor journeys across its the platform.
“Givebutter is set to become the leading platform for nonprofits to better engage their donors and amplify their missions,” said Navid Oreizy, partner at investment firm 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.”
There are additional plans to increase investment in Givebutter’s community of nonprofits. The plans include both new and existing customer-focused initiatives, such as expanding Givebutter’s 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, according to a statement from the firm.
