norwest venture partnerspodderreuters Elegant, a technology corporation which builds fundraising software for non-profit institutions, has elevated $118 million within fresh capital through venture capital firm Norwest Venture Partners along with other investors, it stated on Tuesday.
Classy also mentioned co-founder Scot Chisholm would step straight down from his function as chief executive officer and turn into the executive leader, and Chief Working Officer Christopher Himes, a former senior Salesforce. com (CRM. N) professional, will assume the particular role of TOP DOG.
Existing traders of the San Diego, California-based company, including Salesforce Ventures and Joint Capital, also took part in the funding circular.
Classy expects to use the fresh funds to enter brand new segments, such as business donors, as part of the broader strategy to suit more high-profile contributor with non-profit businesses, Scot Chisholm informed Reuters.
The organization, which started off like a local fundraising company to help raise money for the American Malignancy Society in Hillcrest, relaunched as a technologies venture in 2011. Stylish then pivoted the focus to the on-line space which makes it simpler for non-profit businesses to connect with contributor.
The start up primarily focuses on 2 initiatives – first of all, to help non-profits boost their rates of transforming more visitors to contributor, and secondly, to keep more donors, Chisholm said.