YourCause Announces $4 Million in Series A Funding for Sales Acceleration and Product Expansion
YourCause LLC, SaaS provider of CSRconnect Employee Engagement Platform, announced the closing of Series A funding led by Vocap Investment Partners. The additional capital will be used to support the company’s impressive growth by expanding marketing and sales initiatives, the development of new industry products and services, and geographic capabilities.
Over the past three years, YourCause has solidified its position as a marketplace leader in web-based tools supporting corporate social responsibility programs, all while maintaining profitability despite the company’s revenue model not being predicated on taking a percentage throughout the donation process. YourCause differentiates itself by offering clients a solution that enables them to deliver 100% of the user’s donation to the non-profit organization, which has proven to be well received throughout the marketplace.
Since 2010, the company has grown in the number of clients, revenue, and employees by roughly 80% annually; while delivering donations to more than 40,000 non-profit organizations throughout the world. Retaining 93% of its client base since inception, 46% of which are Fortune 500 companies, YourCause now delivers its services to over three million employees in eight different languages within the world’s leading corporate social responsibility programs.
“I’ve always known that the opportunity to grow to this point was right there and ours for the taking. Getting there has been great to see, though not necessarily a surprise,” says Matt Combs, Founder and CEO of YourCause. “Now, it’s time to leverage the foundation we have built and aggressively expand our services and capabilities to deliver the overall impact that we have always known is possible through our software and continued dedication to this space.”
Ongoing growth and success afforded the company various investment options to strategically support expansion. Management’s key criteria was to find institutional capital that delivered added value and resources beyond funding, for which Vocap Investment Partners proved to be in apt alignment.
“Vocap is very selective about the companies we fund. After reviewing YourCause’s three-year business plan which consisted of clear expansion opportunities for their clients, products and services, as well as projected internal growth, the Vocap team determined that YourCause was the right opportunity for us” commented Vinny Olmstead, Managing Director at Vocap Investment Partners. “The vision they have for how they’ll lead the evolution of the rapidly expanding CSR industry is well-constructed and proven through their previous success. We’re excited to be a part of their future.”
Additional details related to the company’s ongoing vision, status of existing execution, and planned growth with all clients, prospects, and partners will be shared at YourCause’s quarterly client events and the annual CSRworks conference.