Workplace giving technology continues to be hot for acquisition. America’s Charities last week acquired the Causecast giving platform. The acquisition expands America’s Charities suite of giving and engagement solutions.
The announcement comes on the heels of America’s Charities’ new partnership with SmartSimple, in which America’s Charities will distribute and track charitable funds, and manage and report giving, engagement, and impact, across SmartSimple’s constituent relationship management (CRM) clients.
America’s Charities first partnered with Causecast in 2015. America’s Charities President and CEO Jim Starr said the deal is an asset purchase, meaning “we have purchased the technology and its IP [intellectual property], the trademarks and logos, and the client contractual relationships.” Terms of the deal were not disclosed.
Ryan Scott, founder of Causecast, is leaving the firm but is staying engaged during the transition, according to Starr. “Most Causecast employees have transitioned to new opportunities prior to the acquisition and we are not bringing any on board,” Starr said. All operations will be based out of America’s Charities’ headquarters in Chantilly, Va.
The social engagement and workplace giving business is hot right now. Financial firm Fidelity, which distributed $4.5 billion to nonprofits via its donor-advised fund Fidelity Charitable during 2017, recently launched a workplace giving platform called Fidelity Workplace Giving. Blackbaud this past January acquired YourCause for $157 million. And, United Way and Salesforce late last year got together and launched Philanthropy Cloud. They joined at least a dozen other platforms, such as Benevity and StratusLive, into the space.
“We know the Causecast platform well and love its robust yet uncomplicated feature set that drives employee engagement and social good,” said Starr. “We also understand the legwork that goes into implementing and sustaining an employee giving program, and the ability to shape the platform means we can better shape the experience employees and volunteers want and have come to expect from their employers.”