GiveSignup announced on Wednesday that it had closed its Series A funding round, raising a total of $3.2 million.
RunSignup serves the endurance space, helping organizers promote, handle registration and otherwise manage race events. GiveSignup leverages the RunSignup technology and integrated payment model to help nonprofits manage other types of events as well as donations and fundraising campaigns.
“Technology wins. By combining a self-serve based customer interaction model with a transaction-based pricing model, we are able to offer free and flexible tools with no subscription fees or lock-in. This level of customer alignment means we are highly motivated to find ways to help our customers generate revenue,” said Allison Bickel, GiveSignup product leader.
“We engaged more than 100,000 customers in 2020 — this not only fuels our development effort but also delivers better products at lower costs to nonprofits.”
GiveSignup is building on RunSignup’s existing customer base of more than 9,000 nonprofit organizations, the company said. Many of the race organizers on its platform were nonprofits who needed support with other revenue generation efforts.
“We’re a kick-ass technology company well-positioned to seize the $50+ billion U.S. market for online giving,” said Bob Bickel, founder and CEO of RunSignup | GiveSignup, who was also an investor in the Series A round.
“With our seasoned team of tech nerds, we were able to quickly pivot from live to virtual events in 2020; onboard 50% more nonprofits annually; and deliver 2,000+ technology updates to help our customers navigate the pandemic, raise money, and engage with supporters.”
Payment facilitator Payroc led the funding round. The company was joined by Randy Befumo, former CFO and VP of strategy at Eventbrite, and Sacha Labourey, founder and former CEO of CloudBees.
“Market transparency, seamless customer dialogue, and continuous technology development are the cornerstones of this vibrant new entry to the nonprofit market. Together with the domain expertise of Randy and Sacha, we can help GiveSignup reach its goal of raising $1 billion annually for its nonprofits,” Jim Oberman, Payroc’s CEO, said.