Note from the Publisher: It's been a while since we did a "VC Deal of the Day", so it's time to get back to business on that front! We'll start with one that promotes social good by providing digital fundraising and communications capabilities to NFPs - LA-based MobileCause - which currently counts United Way, The Salvation Army, American Heart Association, University of Southern California, and Habitat for Humanity as clients, amongst others.
LOS ANGELES, CA. January 9, 2017 — MobileCause, a leading digital fundraising and communications platform for nonprofits, today announced that it has raised $15 million in series B funding led by Level Equity, a technology-focused growth equity firm based in NYC. MobileCause will use the capital as part of an aggressive product innovation and expansion strategy in the US and internationally. Level Equity founder and partner Sarah Sommer also joined MobileCause’s board of directors.
This latest round of financing will be used to fuel acceleration in product development for MobileCause’s industry-leading cloud fundraising platform and expand all aspects of the company’s efforts in sales, customer success, and marketing. In addition to providing fundraising and communication solutions for thousands of clients across the country, the MobileCause platform supports 44 of the top 200 US nonprofit organizations.
“The rapid growth of our business has created a need to scale our team and expand our product offering,” said Sean MacNeill, CEO of MobileCause. “This funding will allow us to accelerate development of new products and put systems and people in place to maintain the level of quality MobileCause customers have come to expect from us. We selected Level Equity from among multiple top firms because we greatly value their collaborative approach to working with the management teams of high growth technology companies. We have set ambitious goals for our business over the next few years and believe having them as an investment partner with deep expertise in vertical market software will meaningfully enhance the velocity of our business.”
“We’ve been impressed by the strong growth that Sean and the MobileCause team have delivered to-date,” said Sarah Sommer, Partner at Level Equity. “We are excited by the tremendous opportunity that exists for nonprofits to expand their fundraising efforts through mobile and online channels. We believe that MobileCause has the right combination of technology, digital fundraising expertise, and customer service to help their clients achieve their fundraising goals.”