TechSoup’s $11.5-million Growth Capital Campaign received its latest infusion in the form of a $2.5-million grant from the VMware Foundation.
The grant, made through donor-advised fund Vanguard Charitable, will support initiatives to significantly expand TechSoup offerings and nearly double the number of nonprofits it serves.
The foundation joins a coalition of 155 individuals and organizations, including Microsoft and the Nonprofit Finance Fund (NFF), who have invested in TechSoup through grants, loans and direct investments, totaling more than $8 million in commitments to the Growth Capital Campaign. For every $100 invested in its Direct Public Offering (DPO), TechSoup estimates it will be able to distribute more than $47,000 of additional resources to the nonprofit sector.
“With VMware’s support, we will reach many more change makers,” TechSoup CEO Rebecca Masisak said. “Whether it’s providing food to people who need it, helping young people learn to code, or supporting communities after a disaster, civil society organizations bring people together to make an impact on the issues they care about most.”
TechSoup’s campaign launched in November to finance five new initiatives to “help nonprofits and civil society organizations around the world leverage technology to create, connect, activate and transform their organizations and communities.”
VMware is headquartered in Palo Alto, Calif., and in March, the cloud, networking, security and digital workspace firm led a group of Bay Area technology corporations, including Okta, Box, Adobe, and Cisco, in providing a $500,000 grant for TechSoup’s Digital Transformation Initiative. The funding is being used to build out Tech Soup’s digital assessment tool to help nonprofits develop their own technology road maps.
TechSoup Marketplace members also benefit from discounted pricing on VMware Workstation Pro and Fusion Pro, two desktop virtualization products.
“As organizations around the world migrate IT operations to the cloud, we need to ensure that the nonprofit sector also benefits from this foundational shift in the way we use technology,” Masisak said. “VMware’s digital transformation initiative and support of TechSoup will help us build a cloud-first future that enables civil society organizations to do more with the resources available to them, expand the impact they have on their communities and capture many other benefits of digital strategies for impact,” she said via a press release announcing the grant.