EverTrue, a Boston, MA-based developer of an education fundraising platform, closed a $5.25m Series A funding.
The round was led by Bain Capital Ventures, with participation from Boston Seed Capital, TechStars CEO David Cohen, Bonobos CEO Andy Dunn and Trunk Club CEO Brian Spaly.
The company intends to use the capital for product development and team expansion in engineering, design, sales and marketing (read here).
Founded at Harvard Business School by Brent Grinna in 2010, EverTrue leveraged the LinkedIn’s API and Higher Education team to build an alumni networking app to track and engage alumni and donors. It is currently used by over 100 prep schools and colleges in six countries.
The company, which is a graduate of TechStars Boston and a winner of MassChallenge, is also building additional products that leverage data to support fundraising in the education sector and other non-profit verticals.
Previous investors included Harvard Corporation Member Paul Finnegan, Brown University Trustee Sam Mencoff, Northwestern University Trustee Tim Sullivan, University of Pennsylvania Overseer Jim Perry, Georgetown Regent Brendan Carroll, former University of Chicago Trustee Ned Jannotta and Buckley School Trustee Thomas Lehrman.