Social Solutions Secures $6.5 Million in Expansion Funding
BALTIMORE, Feb. 19, 2009 — Social Solutions, the leading provider of nonprofit performance management software, today announced that the company has received $6.5 million in expansion funding.
Charlotte, N.C.-based Frontier Capital led the investment with participation from existing investors, WWC Capital Group and IDEA Fund Partners. Frontier is a private equity firm providing growth equity to technology enabled business services companies.
Founded by human service workers, Social Solutions is nationally recognized for empowering human service providers and the organizations that fund them to strategically tie their efforts to measurable outcomes. The company's Efforts-to-Outcomes (ETO) Software® provides a central platform that makes it possible for organizations to understand and manage the performance of point of service staff, individual agencies, and the community of services as a whole.
Frontier's investment is expected to support expansion of Social Solutions' sales and marketing resources and further enhancement of the company's suite of products and services.
"Since our establishment in 2000, we have consistently experienced exceptional growth and are very proud that now more than 2,500 nonprofit organizations nationwide currently rely on ETO software to better measure, plan and manage the effectiveness of their activities to ensure the greatest social impact," said Matthew Schubert, CEO of Social Solutions. "With this funding from Frontier Capital, we will be able to accelerate the development of our innovative solutions, build out service delivery and increase the number of human services organizations that are maximizing the outcome of their efforts."
"We have been very impressed with the evolution of Social Solutions as it has brought performance management to the forefront of effective social giving," said Andrew Lindner, managing partner of Frontier Capital. "Now more than ever, both funders and nonprofit organizations are demanding the increased effectiveness facilitated by ETO Software. We are pleased to partner with Social Solutions in accelerating the company's growth trajectory."
About Social Solutions and ETO Software®
Social Solutions challenges and equips human service providers and their funders to turn good intent into measurable change by relating efforts to outcomes. The company's ETO (Efforts to Outcomes) reporting software replaces one-size-fits-all data tracking with a reporting system tailored to the unique mission of each nonprofit organization. ETO Software® generates a clear and accurate measure of impact to improve service delivery, earn more funding, and reduce the time and resources dedicated to tracking performance.
About Frontier Capital
Frontier Capital was founded in 1999 as a private equity firm focused on providing capital and support to technology enabled business services companies. Frontier invests in high growth companies with a proven solution in the marketplace that can benefit from capital to accelerate growth, fund acquisitions, or generate shareholder liquidity. The firm is based in Charlotte, NC, and currently has $160 million under management. For more information on Frontier Capital, visit www.FrontierCapital.com