ImpactFlow wants to help non-profits and businesses work together more effectively, and now it has a good chunk of funding to do so.
The Portland startup today announced a $5.7 million round from a group of angel investors in Northern California that will help ImpactFlow expand nationally and continue building out its technology platform.
The 10-person company, which is gearing up to open offices in Seattle, San Francisco and Los Angeles, connects non-profits with businesses that share similar interests and offers a dashboard that manages event management, donations, and social amplification. Founded in 2013, ImpactFlow now has more than 600 non-profits like Make-A-Wish Foundation and 100 businesses like New Seasons Market registered on its service.
The company does not charge non-profits, businesses, or individuals to join — those not associated with their employer can still donate to an organization of their choice on ImpactHub — but makes money off yearly business subscriptions that come with added features. It also charges a 2.9 percent transaction fee, which CEO and co-founder Tyler Foreman says is “one of the smallest fees in the industry.”
Foreman explained how ImpactFlow originally started out with a broader goal of helping non-profits collaborate more effectively with their stakeholders.
“As we started, we realized the business sector wasn’t well-represented, and that by facilitating collaboration between the business and non-profit worlds, we could make giving back easier and more effective for everyone,” Foreman said.
Foreman said automating social media outreach and the ability for businesses and non-profits to host events together gives ImpactFlow a competitive advantage.
“The event organizer can leverage the matching capabilities of the platform to also connect with business partners to help support the event, such as a restaurant to provide food and beverage or a real estate developer to provide a venue,” Foreman added. “This enables businesses to give back in new ways (other than direct giving) that leverage their expertise and builds strong relationships with the community.”
ImpactFlow will use the fresh funding primarily to double the size of its sales, marketing, and engineering team within six months. Total funding to date for the two-year-old company is $6.8 million.
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