Benevity Raises $38 Million in Growth Funding to Accelerate Innovation in Workplace Giving and Volunteering
CALGARY — Benevity Inc., the leading global supplier of workplace giving and volunteer management software solutions, announced the completion of a $38 million CAD Series A round with JMI Equity, a growth equity firm focused on investing in leading software and services companies. As part of the transaction, JMI General Partner, Bob Nye will join Benevity’s Board of Directors.
“Benevity is already a market leader, and our partnership will help accelerate the continued evolution of its global products and services in industry-defining ways,” said Harry Gruner, Founder and Managing General Partner of JMI. “We look forward to working with the company and supporting its growth plans.”
Founded in 2008, Benevity’s platform enables companies to engage their employees and customers around social responsibility and community investment to create better business and social impacts. Propelled by its award-winning employee giving, matching and volunteer management technology, Benevity has more than doubled in size each of the last three years. The investment from JMI Equity will help Benevity continue to advance the speed, scale and scope of product innovation and service excellence that have made it the SaaS provider of choice to nearly 100 of the Fortune 1000 companies, including several of the largest workplace giving programs in the world.
“Our clients recognize that their corporate giving programs are not only about philanthropy; they are also about attracting, retaining and engaging their increasingly socially conscious employees and customers,” said Bryan de Lottinville, CEO of Benevity. “They value Benevity’s field-leading technology and share our vision of constructively disrupting charitable giving to increase the efficiency, engagement and impact of corporate responsibility and community investment initiatives. JMI Equity offers a deep knowledge, passion and confidence in our organization and through their first investment in a B Corporation will help deliver more impact to the companies and charitable organizations we seek to serve.”
About Benevity
Benevity, Inc. is a software social enterprise whose platform and products enable companies to build social responsibility and giving into their businesses to increase the social impact of their programs and to attract, retain and engage customers, employees and partners. Benevity’s award-winning employee giving and volunteering solution, Spark, is used by some of the most notable companies in the world, ranging in size from a few hundred to more than 250,000 employees.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software and services companies. Founded in 1992, JMI has invested in over 115 businesses in its target markets and has raised more than $3 billion of committed capital. Combining domain expertise and active partnership, JMI works with management teams to build market-leading businesses and create long-term shareholder value. Realized investments from JMI funds include Axeda, BigMachines, Blackbaud, Eloqua, Gemcom, PowerPlan and ServiceNow. For more information on JMI, visit www.jmi.com.
Media Contacts
Benevity, Inc.
Casey Brennan
415-318-4124
casey.brennan@fleishman.com
JMI Equity
Allyson Vento or Erin Smith
Abernathy MacGregor Group
212-371-5999
AMV@abmac.com or EKS@abmac.com
