Virtuous Secures $100M Funding Round

Virtuous Secures $100M Funding Round Source: PR Newswire Press Release: "Virtuous Secures $100M Funding Round Led by Susquehanna Growth Equity (SGE)" - September 19, 2024 Key Themes: Growth Investment: Virtuous, a leading provider of Responsive Fundraising software for nonprofits, has secured a $100 million minority growth investment led by Susquehanna Growth Equity (SGE). Accelerated Innovation: The funding will be used to accelerate product innovation, including AI tooling, expanded integrations, third-party data insights, and platform upgrades. Enhanced Customer Service: Virtuous will also invest in expanding its customer success and services teams to provide better support to its growing nonprofit user base. Driving Global Generosity: This partnership underscores Virtuous' mission to drive global generosity and help nonprofits generate $10 billion in new giving worldwide. Important Facts: Company Overview: Virtuous is a 10-year-old Phoenix-based company providing nonprofits with tools for personalized fundraising, marketing automation, online giving, and event management. Funding Round: Series C, $100 million. Lead Investor: Susquehanna Growth Equity (SGE). Investor Profile: SGE is an entrepreneur-centric growth equity firm focused on software, services, internet, and information services companies. Growth Trajectory: Virtuous has been recognized on the Inc. 5000 list for three consecutive years and named one of Inc. Magazine's 2023 Best Places to Work. Key Quotes: Gabe Cooper, CEO of Virtuous: "Their [SGE] investment not only provides us with the resources to continue advancing our technology but also reinforces their belief in our vision to help nonprofits succeed. SGE's team has a long-term mindset that will allow Virtuous to continue building an enduring business and putting our customers first." Ben Weinberg, Managing Director at SGE: "Virtuous enables nonprofits to better identify potential fundraising opportunities through their seamless software with actionable reporting capabilities, integrated marketing tool, and online giving platform. Gabe and his talented team have built market-defining software that is helping drive growth across an array of impactful initiatives and we look forward to helping support their growth." Future Implications: This funding round positions Virtuous for continued growth and innovation within the nonprofit technology sector. By investing in AI and data-driven tools, Virtuous aims to empower nonprofits with the resources to optimize their fundraising efforts. The partnership with SGE provides Virtuous with strategic guidance and support for long-term growth. Overall Takeaway: This substantial investment highlights the growing importance of technology in the nonprofit sector. Virtuous' commitment to innovation and customer success, backed by SGE's expertise, positions the company to make a significant impact in driving global generosity and supporting nonprofits in achieving their missions.