Fundraise Up Secures $70M Growth Capital Investment Led by Summit Partners
Fundraise Up, a fundraising platform for nonprofits globally, announced a minority growth investment led by Summit Partners with participation from existing investor Telescope Partners. The new funding reinforces Fundraise Up’s position in the nonprofit technology sector and will support the company’s commitment to expand product offerings, accelerate global market reach, and provide innovative, AI-powered solutions purpose-built to unlock the fundraising potential and impact of nonprofit organizations.
Co-founded in 2017 by Peter Byrnes, Yuriy Smirnov, and Anton Isaykin, Fundraise Up was created to help nonprofits raise more money online. The Fundraise Up platform is the first to use predictive AI in donor experiences and is designed to address the inefficiencies and complexities of traditional online donation processes, helping to remove donor friction. With a differentiated transaction-based pricing model — requiring no contracts or fixed fees — Fundraise Up has achieved significant adoption across the nonprofit sector, including organizations such as UNICEF USA, The Salvation Army UK, the Canadian Red Cross and the American Heart Association.
“Nonprofits deserve access to the same technology and customer experience available throughout the e-commerce sector. This investment will enable us to accelerate our growth, expand our team, and further our mission to simplify and optimize the donation process for nonprofits worldwide,” said Peter Byrnes, CEO. “We look forward to leveraging Summit's expertise and resources to help drive even greater impact for nonprofits on a local and global scale.”
As online giving continues to grow, many nonprofits are held back by legacy solutions that slow donation revenue growth and inhibit fundraising efforts. Fundraise Up works to improve the donor experience through a seamless online donation process. With a strong focus on AI-driven, data-guided decisions, Fundraise Up helps its customers eclipse industry standards in areas like recurring donations and fee coverage.
"We believe increasing demand for digital solutions in the nonprofit sector presents a significant opportunity for Fundraise Up, and we are thrilled to support the company as it enters a new phase of growth,” said Michael Medici, a Managing Director at Summit Partners. “The Fundraise Up platform empowers customers to better engage with current and prospective donors, offering intuitive digital tools designed to increase conversion, enable modern payment methods, and personalize the giving experience. We look forward to working together to help the team drive meaningful impact for nonprofits seeking to leverage technology to enhance their fundraising efforts."
"We believe Fundraise Up’s unwavering focus on their customers has positioned the company as a premier solution for nonprofit fundraising," said Mickey Arabelovic, Founder and Managing Director of Telescope Partners. "We’re proud to support their mission as they seek to raise the bar for nonprofit technology."
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.
