Richmond, VA, April 20, 2022 (GLOBE NEWSWIRE) -- Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation (VIPC), today announced an investment in Humanitru. Richmond, Va.-based Humanitru is a software platform designed to help nonprofits collect and manage donors, volunteers, event attendees, marketing performance, and more - all in one place. The company will use this Virginia Venture Partners investment to accelerate sales growth as well as invest in its engineering and product teams as they seek to move up-market before their next raise.
For every dollar spent on sales and marketing, the nonprofit sector is half as efficient as the for-profit sector at generating a return, suffering from massive amounts of donor churn with 19% first-time donor retention rates. Most nonprofits feel that the software available to them is not user-friendly, and many find problems within their data, fragmented into many silos. There is a need for a modern, intuitive platform that manages its supporters and all the ways these organizations give back. Humanitru fills this gap with a platform that combines multiple data streams and provides a holistic overview to help nonprofits uncover deeper supporter engagement insights that better inform fundraising strategies. Humanitru clients experience an average active donor growth of 69% post-adoption.
“After speaking with several nonprofit professionals about their technology tools and needs, it became clear that donor management platforms fell into two main buckets: legacy platforms that can be powerful but are costly and lack user-friendliness, and single solution platforms that are newer, more basic and focus on doing one thing (but not well-integrated). We then asked ourselves, can we do both? How do we help nonprofits engage more supporters, save more time, and generate more donations? That is how Humanitru was born,” says Alan Wei, CEO, Humanitru. “We are thankful to play a role in supporting the amazing work being done by our nonprofit clients each day, and we thank VIPC’s Virginia Venture Partners investment to help continue our growth.”
When setting out to build Humanitru, one of the biggest problems the founders identified was data silos that prevented integrated data from being shared within a traditional donor management system. Humanitru offers a better solution, where all data flows into one system. With an integrated, 6-in-1 data platform like Humanitru, nonprofits do not have to go back and forth between multiple systems to view campaign results and see reports, saving time and resources. Humanitru provides a number of integration options for applications nonprofits may already be using, such as email marketing tools and donation software meant to augment fundraising initiatives.
“The Humanitru team collectively has decades of experience working with and for nonprofits of all sizes, and are dedicated to finding new solutions and providing outstanding support to those organizations,” says Tom Weithman, VIPC Chief Investment Officer and Managing Director of Virginia Venture Partners. “Humanitru’s proprietary process for collecting and normalizing behavioral data points across donations, volunteerism, events, and email marketing for rapid segmentation and analysis is a distinct competitive advantage. The company’s execution to date, including its pricing model, customer success focus, and intuitive design, shows that they understand how to sell to nonprofits and how important branding is in this space. We are excited to contribute to their success and see the continued impact they make for nonprofits of all sizes.”
About Humanitru
Humanitru is a 6-in-1, cloud-based, Supporter Engagement Platform that allows nonprofits to manage constituents, donations, memberships, volunteers, programs, and events. Humanitru’s powerful, yet easy-to-use suite of digital tools includes advanced automations, branded landing pages, mobile bidding, robust reporting, outstanding customer support, and easy integration with the most popular platforms and tools nonprofits are already using. With Humanitru, nonprofits are empowered to make better strategic, fundraising decisions with a 360-degree perspective of how their supporters engage. For more information, visit https://www.humanitru.com/.
About Virginia Venture Partners
Virginia Venture Partners, formerly CIT GAP Funds, is the equity investment program of VIPC that makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $32.4 million in capital across more than 250 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visitwww.virginiaipc.org/vvp.
About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with opportunities. The nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.
Programs include: Virginia Venture Partners (VVP) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Smart Communities | Unmanned Systems | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Twitter, LinkedIn, and Facebook.
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