Virtuous Secures $100M Funding Round Led by Susquehanna Growth Equity (SGE)
PHOENIX, Sept. 19, 2024 - Virtuous, the leading Responsive Fundraising Software helping nonprofits grow giving, today announced a minority growth investment through a funding round led by Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm. This significant investment will fuel Virtuous' mission to accelerate product innovation and enhance services for its nonprofit customers.
Accelerating Global Generosity
Virtuous is at the forefront of transforming how nonprofits engage with their donors and volunteers to drive meaningful change. With this new capital, Virtuous plans to expand its suite of innovative tools designed to empower nonprofits with data-driven insights, seamless integrations, and a more personalized approach to fundraising.
“We are incredibly excited to partner with SGE for this critical phase of our growth,” said Gabe Cooper, CEO of Virtuous. “Their 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.”
Accelerating Innovation and Service
The funding will enable Virtuous to accelerate the development of new features including AI tooling, expanded integrations, third-party data insights, and platform upgrades based on the needs of its users. The new partnership will ensure that Virtuous continues to deliver leading-edge solutions that meet the evolving needs of nonprofits.
In addition to product development, Virtuous will invest in expanding its customer success and services teams to provide unparalleled support and playbooks to its growing base of nonprofit users. This commitment will help nonprofits leverage the full potential of the Virtuous platform and advance its ultimate mission of helping nonprofits create $10 billion of net new generosity globally.
Commitment to Nonprofits
“We are proud to partner with Virtuous in its mission to revolutionize nonprofit fundraising through its innovative and proven approach to CRM,” said 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.” In conjunction with the transaction, SGE team members Ben Weinberg and Aneesha Raghunathan will join Virtuous' Board of Directors.
About Virtuous
Virtuous is the leading provider of Responsive Fundraising software dedicated to empowering nonprofits with modern and innovative tools specifically designed to increase generosity by building more personal relationships with donors. Tens of thousands of nonprofit professionals use Virtuous CRM, marketing tools, and analytics solutions. Nonprofits using Virtuous software have seen significant increases in donor retention and average gift size while reducing administrative expenses. Virtuous has made the Inc. 5000 list for three years in a row, has been recognized as a Leader in the G2 Nonprofit CRM grid, and has been named one of Inc. Magazine’s 2023 Best Places to Work. For more information, visit virtuous.org.
About Susquehanna Growth Equity
Susquehanna Growth Equity (“SGE”) is an entrepreneur-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, services, internet, and information services companies. The firm has invested over $4 billion in 100+ market-leading technology and services companies over the last 18 years and has portfolio companies across the US, Canada, Europe, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com .