Fundly Raises $5M in Funding
According to a written statement, Fundly, a Palo Alto, Calif.-based cloud-based social fundraising platform for non-profits, has raised $5m in funding.
The round was led by Morgenthaler Ventures, with participation from existing seed investors Kapor Capital, Correlation Ventures, Seraph Group, and Accelerator Ventures.
This brings the total amount raised by the company to $7.5m.
In conjunction with the funding, Mark Goines, a partner at Morgenthaler, will join Fundly’s board.
Launched in 2009 and led by CEO Dave Boyce, the company has over 1,000 cause-based organizations as customers (non-profits, political organizations, and educational institutions). Clients include Teach for America, TERI, Silicon Valley Education Foundation, American Red Cross Silicon Valley Chapter, Boise State Athletic Association, and Special Operations Warrior Foundation.