The Investment Will Accelerate the Platform's Expansion to New Social Impact Markets
EL PASO, TX / ACCESSWIRE / July 30, 2024 / FundMiner, the platform pioneering effective fund management for fundraising organizations, today announced that it raised an additional $2.5 million to expand to new markets and further invest in R&D of its cutting-edge platform. The company set out to raise $1.7 million and oversubscribed its round with funding from new strategic capital partners and existing investors such as Techstars and Cascade Seed Fund.
FundMiner currently serves the higher education, community foundation, and healthcare markets, and it plans to expand to nonprofits, arts and cultural organizations, faith-based organizations, and beyond.
As part of the funding round, Jay Love, the former co-founder and CEO of Bloomerang, a leading nonprofit donor management software company, will join the company's board of directors to help the company navigate growth and new markets. "The revolutionary work that FundMiner is doing will set a new standard for how fundraising organizations manage donor funding," said Jay Love. "With FundMiner, organizations will maximize their human and financial capital, increase the support and services they offer, and create better donor experiences that drive future giving and growth."
Over 80% of donors today expect to see proof of impact in exchange for continued support, making it paramount that charitable organizations utilize donor funding effectively and share the specific impact of funding with donors.
"Fundraising organizations must equip themselves with tools and resources to ensure they deploy donor funding appropriately, but it can be extremely difficult given the complex and dispersed nature of some organizations," said Chelsea Lamego, co-founder and CEO of FundMiner.
FundMiner is leading the transformation of an outdated industry. Fund administrators previously lacked access to critical fund information and relied on manual processes, which inhibited their ability to deploy funding effectively and share impact with donors.
With FundMiner, this can all change. The platform makes fund data accessible by centralizing fund information from the CRM, accounting system, awarding platform, and endowment data. Advanced access controls help share fund information across departments, giving fund managers self-service insight into the funds they oversee. The platform automates fund utilization monitoring and uses intelligent analytics to help fund managers make informed spending decisions. Impact and financial reporting capabilities enable the organizations to deliver impact data to donors.
FundMiner is complementary to products many users already use, such as Blackbaud's Raiser's Edge, Oracle's Peoplesoft, Workday, and Salesforce.
Customers and prospects are enthused by the platform's revolutionary features and the company's plans to further develop tools that enhance their donor experience.
About FundMiner
Founded in late 2022 by Chelsea Lamego and Alejandro Stevenson-Duran, FundMiner's software helps fundraising organizations simplify the management of their funding. By bringing together data from traditionally siloed systems and applying intelligent analytics, FundMiner enables customers to experience more effective capital utilization, increased fundraising revenue, reduced risk exposure, and improved donor experience.
To learn more, visit https://fundminer.com.
Contact Information
Chelsea Lamego
Co-Founder and CEO of FundMiner
chelsea@fundminer.com
915-490-4764
SOURCE: FundMiner
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