Fundraise Up, a leading nonprofit fundraising platform, has announced securing $70m in a minority growth investment.
The funding round was led by Summit Partners, with additional participation from existing investor Telescope Partners.
The company, co-founded in 2017 by Peter Byrnes, Yuriy Smirnov, and Anton Isaykin, provides AI-powered solutions to help nonprofits optimise their online fundraising efforts. Fundraise Up’s platform is designed to remove barriers in the donation process by leveraging predictive AI to enhance donor experiences.
The platform features a transaction-based pricing model with no contracts or fixed fees, attracting a broad range of nonprofit clients, including UNICEF USA, The Salvation Army UK, the Canadian Red Cross, and the American Heart Association.
The newly raised capital will be used to expand Fundraise Up’s product offerings, accelerate its global reach, and further develop its AI-driven technology to empower nonprofits in achieving their fundraising goals. The company aims to provide innovative solutions to simplify and optimise donation processes worldwide.
Fundraise Up’s AI-driven platform addresses challenges faced by nonprofits relying on outdated donation solutions that can hinder revenue growth. With a focus on improving donor engagement and enhancing online giving experiences, the company has positioned itself as a leader in the nonprofit technology sector.
Fundraise Up CEO Peter Byrnes said, “Nonprofits deserve access to the same technology and customer experience available throughout the e-commerce sector. This investment will enable us to accelerate our growth, expand our team, and further our mission to simplify and optimize the donation process for nonprofits worldwide. We look forward to leveraging Summit’s expertise and resources to help drive even greater impact for nonprofits on a local and global scale.”
Michael Medici, managing director at Summit Partners, said, “We believe increasing demand for digital solutions in the nonprofit sector presents a significant opportunity for Fundraise Up, and we are thrilled to support the company as it enters a new phase of growth.
“The Fundraise Up platform empowers customers to better engage with current and prospective donors, offering intuitive digital tools designed to increase conversion, enable modern payment methods, and personalize the giving experience. We look forward to working together to help the team drive meaningful impact for nonprofits seeking to leverage technology to enhance their fundraising efforts.”
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