FrontStream Acquires BiddingForGood
July 28, 2015 Mark Hrywna
It’s the fifth company that the Reston, Va.-based fundraising and donor management firm has acquired in the past three years, previously buying:
- FirstGiving, a peer-to-peer fundraising platform, in August 2012;
- Toronto, Canada-based Artez Interactive, a provider of web, mobile and social fundraising solutions, and donor management firm GiftWorks in Lancaster, Pa., in August 2013; and,
- Truist, a Washington, D.C.-based firm focused on corporate social responsibility and employee giving campaign processing in March 2014.
BiddingForGood was founded in 2003 under the name cMarket.
The approximately 40 employees will remain in the firm’s Cambridge, Mass. office as FrontStream employees, according to FrontStream President and CEO Nina Vellayan. BiddingForGood’s previous CEO, CFO and head of sales left the company. Prior to this deal, FrontStream had a total of approximately 210 employees.
In a news release announcing the deal on Monday, FrontStream said the move “is the latest in a series of strategic moves…and is consistent with their commitment to the development of a completely comprehensive platform for nonprofits and corporations.”
The acquisition of BiddingForGood “is the next step in the natural evolution of FrontStream’s platform, which takes a full-service approach to organizations that have philanthropic interests of any kind; from online and offline fundraising tools to integrated data management systems and marketing tools.”
The absorption of BiddingForGood “builds upon FrontStream’s commitment to connect the nonprofit and corporate sectors through the common thread of philanthropic endeavors,” the company said.
“FrontStream has a demonstrated commitment to develop the world’s most diverse, innovative, and efficient suite of integrated tools serving the charitable and business sectors and we realized some time ago that a single-point solution would never adequately meet that need; this expansion is part of our progression as a more holistic provider,” Vellayan said.