$3.5 Million Investment In Fundraising Platform
October 19, 2016 Mark Hrywna
A 3-year-old fundraising and data management software company has raised $3.5 million in Series A funding to grow its sales and product development teams.
Funding for Nashville, Tenn.-based Kindful was led by Cultivation Capital, a venture capital firm that focuses on technology and life sciences companies. Its headquarters are located St. Louis, Mo., with offices in Hoboken, N.J., and Nashville, Tenn.
“This significant round of funding shows that major innovation in Nashville is alive and well in the FinTech sector,” Joe Maxwell, a managing partner based in Nashville, said in a news release announcing the funding. He lauded Kindful for its potential for donor acquisition and targeted campaigns.
Founder and CEO Jeremy Bolls said the start-up will invest in its sales and product development teams to increase rapid growth, which he estimated at 500 percent in revenue and customers year-over-year. The company also will invest in integrated partner ecosystem and open API.
Kindful “unifies fundraising, transaction and donor management tools under one roof, then seamlessly integrates those tools with other data sources, like events, accounting or email marketing systems.” Its fundraising automation platform is designed to help nonprofit managers and fundraisers operate more efficiently by providing a single, cloud-based resource for donor acquisition, donor-relationship management, and real-time analytics, including insights, from popular, third-party software partners.
The company’s roster of clients include Habitat for Humanity of the San Juans, Life for the Innocent, Hands & Feet Children’s Villages, RainCatcher, Happy Tales Humane, and Know Think Act, among others.
Pricing ranges from $100 per month for up to 1,000 contacts to $400 per month for 15,000 to 25,000 contacts.
Founded in 2012, Cultivation Capital is a family of venture funds that has invested in 36 companies that have exceeded $500 million in total capital raised. It is an early stage venture capital firm focused on investing in financial technology (FinTech), software, and life sciences companies.