Bloomerang Secures Strategic Investment to Accelerate Delivery of Giving Platform
Bloomerang, a donor, volunteer, and fundraising management software platform for thousands of small and medium-sized nonprofits, announced that it received an investment from Warburg Pincus, a global growth investor. The funding – combined with JMI Equity’s investment in 2020 and the company’s recent acquisition of Qgiv – will drive ongoing growth and success to help Bloomerang deliver a fully-integrated giving platform.
Bloomerang’s latest moves and product innovations address many of the common challenges that nonprofits face today–finding new donors, growing existing relationships, and fundraising. By providing intuitive, easy-to-use donor management, volunteer management, and deep fundraising capabilities–in a single place, nonprofits will be able to maximize the full potential of their donor communities and ultimately raise more funding. This strategic investment from Warburg Pincus is focused on continuing company growth, innovations in the nonprofit sector, and ultimately helping nonprofits deliver their mission.
“Warburg Pincus is known for making investments in market leaders,” says Dennis Fois, Bloomerang’s chief executive officer. “Year-over-year, Bloomerang customers raised 25% more on GivingTuesday 2023 than in 2022, whereas the broader sector remained flat. Our goal is to deliver a single giving platform that gives nonprofits the ability to increase donors, donations, volunteers, and support. This investment will help accelerate our mission to build a world inspired by giving.”
“Bloomerang has long been the clear market leader in donor and volunteer management software. The company’s powerful yet easy-to-use platform is highly effective in helping customers improve donor retention and increase supporter engagement,” says Sam Lipsick, managing director at Warburg Pincus. “We’re excited to support Bloomerang and Qgiv coming together, to offer an even better fully-integrated experience for customers across the nonprofit community,” added Andrew Park, managing director at Warburg Pincus.”
This investment comes on the heels of Bloomerang’s recent acquisition of Qgiv, a leading provider of fundraising technology solutions, as well as the earlier acquisition of InitLive, a leading provider of volunteer management software. The company now serves 23,000 nonprofit customers, processes $1 billion in donations for nonprofits, and has plans to continue to hire staff and add new resources to help nonprofits succeed.
"Since partnering with Bloomerang in 2020, we’ve supported the company’s substantial growth–across customers, revenues, and employees–and we know that there is even more room to expand," said Larry Contrella, general partner at JMI Equity and Bloomerang board member. "With Bloomerang’s commitment to intentional growth, helping nonprofits succeed, fostering a company culture passionate about nonprofits, and delivering product enhancements that raise the bar, we’re confident that the company will further strengthen its leadership position in nonprofit technology."
Andrew Park, Sam Lipsick, and Peter Kimmey from Warburg Pincus join JMI on the Bloomerang board. Since an initial investment from JMI Equity in 2020, Bloomerang has more than tripled the business in revenue, employees, and nonprofits served.
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.
