DonorPath, Inc. announced a first close of $150,000 via a fundraising effort initiated this month. 38% of the $400,000 non-brokered debt offering was placed with a single investor. The company expects to raise an additional $250,000 to close the offering within a year. A prior offering by the company raised an estimated $350,000. The company is backed by Dundee Venture Capital which invested in the company in January 2013.
The company develops and markets a fundraising Intelligence platform that enables nonprofit organizations to use their time and resources. The platform is designed to simplify, analyze and visualize users’ fundraising data and matches them with a fundraising expert for a virtual coaching partnership based on budget and mission.
In late May, GIVINGtrax, a company which provides web and mobile tools for managing donations, corporate giving, cause marketing, volunteerism and fundraising, raised $20,000.
Brian Lauterbach (Founder and President) leads the Chicago IL based company which was registered in 2012. DonorPath, Inc. elected not to disclose its revenues. The executive team includes Ken Ballard (CTO), Natalie Ezzie (Community Services), Ryan Gallentine (Community Engagement) and Julie Stogsdill (DonorPath Foundation). The board of directors includes Sean Knierim and Mark Hasebroock.
Status: First close
Company: Donorpath, Inc.
Industry: Other Technology
Amount offered: $400,000
Amount placed: $150,000