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Fundraising Platform Classy Snares $118M In Venture Funds

Fundraising Platform Classy Snares $118M In Venture Funds
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San Diego startup Classy corrals $118m for software to help nonprofits with digital fundraising

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Classy, a San Diego software firm that helps nonprofits raise money online, said Tuesday that it pulled in $118 million in a fourth round of venture capital funding yet another sign of recent money-raising momentum for local startups.
Co-founded by Scot Chisholm as a “passion project” to raise money for cancer research after his mom was diagnosed with the disease, Classy morphed into a technology platform that creates digital pathways for more than 6,000 nonprofits to connect with a younger generation of tech-savvy donors.
“We just crossed $3 billion raised on the platform since we were founded in 2011 as a technology company,” said Chisholm. “We’re currently pacing at over $1 billion a year in terms of fundraising” for nonprofits. ....

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Social software start-up Classy raises $118 mln from Norwest, other investors

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Classy, a technology company which builds fundraising software for non-profit institutions, has raised $118 million in fresh capital from venture capital firm Norwest Venture Partners and other investors, it said on Tuesday.
Classy also said co-founder Scot Chisholm would step down from his role as chief executive officer and become the executive chairman, and Chief Operating Officer Christopher Himes, a former senior Salesforce.com executive, will assume the role of CEO.
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Social software start-up Classy raises $118 mln from Norwest, other investors Back to video
Existing investors of the San Diego, California-based company, including Salesforce Ventures and Hinge Capital, also participated in the funding round. ....

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Certified B Corp, Classy, Raises $118M in Series D Funding to Help Nonprofits Increase Their Impact

Certified B Corp, Classy, Raises $118M in Series D Funding to Help Nonprofits Increase Their Impact
Led by Norwest Venture Partners, the funding will accelerate growth by doubling the size of Classy s product and engineering teams over the next two years
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SAN DIEGO, April 20, 2021 /PRNewswire/
Classy, a B Corp Certified social enterprise that creates world-class fundraising software for nonprofits, announced today that it has closed a $118 million Series D funding round led by Norwest Venture Partners, a mission-driven venture capital firm, which has previously partnered with other powerhouse technology companies like Udemy, Talkspace, Plaid, Gong and OpenDoor. Existing backers, Salesforce Ventures and Hinge Capital, also participated in the round. ....

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Classy Raises $118M in Series D Funding

Classy, a San Diego, CA-based B Corp Certified social enterprise that creates fundraising software for nonprofits, closed a $118m Series D funding.
The round was led by Norwest Venture Partners with participation from existing backers Salesforce Ventures and Hinge Capital. David Su, Partner at Norwest Venture Partners, will join Classy’s Board of Directors,
The company intends to use use the funds to accelerate product development, double the size of its product and engineering organization over the next two years and to enter new markets, such as corporate giving.
Following the funding and a year of record growth, Classy will immediately repay its Paycheck Protection Program (PPP) loan, which it took from the federal government during the pandemic to keep its staff fully employed and to ensure it could continue to serve the social sector at full capacity during a time of increased need. ....

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