Leading Ed Tech Investor Backs EverTrue to Accelerate Innovation in Higher Ed Fundraising
BOSTON, Mass. (September 6, 2017) – EverTrue, a software company that is modernizing fundraising efforts at educational institutions, today announced that it has secured $6MM in additional funding led by University Ventures with participation from existing investor Bain Capital Ventures. The financing will be used to drive further software innovation as the company continues its mission to power the future of higher ed advancement. This most recent round brings EverTrue’s total funding to $23.5MM.
Over the last three decades, the number of nonprofits has increased by more than 200 percent, leaving only 15 percent of total philanthropic dollars for education. As colleges and universities adjust to this shift, advancement leaders are focused on building strong, long-term and sustainable strategies to connect with alumni and build donor bases more efficiently, intelligently and collaboratively.
“Throughout the last 40 years, advancement teams have played it safe, but this status quo approach is costing us donors and dollars,” said Josh Newton, president and CEO of the UConn Foundation. “It’s time for our industry to adapt and embrace a more modern, omni-channel and personalized outreach strategy that engages alumni based on their interests. As UConn begins to change course, we are lucky to have a forward-looking partner like EverTrue to help us navigate this uncharted territory and provide the valuable insights we need to help inform our strategy.”
Founded in 2010 by CEO Brent Grinna, EverTrue is redefining the advancement technology space as the only cloud-based platform that gives advancement professionals the ability to meet constituents where they are and engage them in meaningful conversations based on an individual’s interests and preferences. Through powerful integrations with Facebook, LinkedIn, Zillow, Google and more, EverTrue surfaces the full story behind each constituent, offering advancement teams modern data and tools to engage alumni, raise support and measure team progress all in a user-friendly user interface.
“As the consumer loyalty experience has shifted to mobile, social and data-driven solutions, the expectations of donors, volunteers, staff and leadership have changed,” said Grinna. “After working side-by-side with hundreds of institutions over the last seven years, we know that most schools are sitting on a trove of data that, if acted upon, would enable stronger connections with alumni, parents and friends. At EverTrue, we believe the future of advancement is a connected experience that makes these insights easily accessible and actionable, whether you work in major giving, prospect research, annual giving or alumni engagement. University Ventures, a seasoned and mission-driven higher ed expert, is the perfect partner to help us advance our vision.”
Today, EverTrue is improving fundraising results for more than 300 partners ranging from public and private universities, to liberal arts colleges, to graduate and independent schools. In addition to the UConn Foundation, current customers include Oregon State University, Boston University, Williams College, the NYU Stern School of Business, Sidwell Friends School and more.
“One of great values of EverTrue is that you can get started right away with little or no training,” said Ray Joyce, director of development at Boston University’s School of Theology. “With EverTrue, my trip planning time has been cut in half and it has helped me build relationships with new donors; it’s a fundraiser’s dream.”
University Ventures invests in entrepreneurs and institutions that are reimagining the future of higher education and creating new pathways from education to employment. Troy Williams, managing director of University Ventures, will join EverTrue’s board of directors.
“EverTrue’s unique, data-driven and personalized approach makes the company the leading innovator in the advancement space,” said Williams. “EverTrue’s employees showcase a deep commitment to helping colleges and universities transform the fundraising experience. We’re impressed by the EverTrue team’s ability to think creatively and look forward to supporting this next chapter of development and growth.”
Founded in 2010, EverTrue is a leading advancement software that supports fundraising efforts at educational institutions. By connecting institutional data with dynamic insights from LinkedIn, Facebook, Zillow, the U.S. Census, and more, EverTrue provides advancement offices with the modern data and tools they need to engage alumni, raise support, and measure team progress. Today, EverTrue is improving results for more than 300 institutions through a fully integrated suite of products that powers efforts across the entire advancement office. EverTrue is headquartered in Boston, MA and is backed by University Ventures and Bain Capital Ventures. Visit EverTrue on the web at www.evertrue.com and follow on Twitter or LinkedIn.
About University Ventures
University Ventures (UV) is reimagining the future of higher education and creating new pathways from education to employment. UV portfolio companies are making higher education more affordable, pioneering entirely new approaches to learning, and helping employers think differently about how and where they discover talent. UV’s approach draws upon the values and traditions of higher education to play a sustainable role in transforming the path from education to a stronger economic future for students, universities, and employers. UV is led by principals with decades of experience as entrepreneurs, investors, authors, and leaders in higher education. www.universityventures.com
About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in enterprise software, infrastructure software and industries being transformed by data. Bain Capital Ventures has helped launch and commercialize 200-plus companies since 2000, including investments in DocuSign, Jet.com, Kiva Systems, LinkedIn, Rapid7, SurveyMonkey, Taleo and TellApart. Bain Capital Ventures has approximately $3.6 billion of assets under management with offices in San Francisco, New York and Boston. Follow the firm via LinkedIn or Twitter.