Members of the Humanitru team. (Photos courtesy Beth Brown)
A Richmond-based tech company that caters to nonprofits has just scored a fresh round of cash to help it grow.
Humanitru, which offers a cloud-based management software for mid- to large-scale nonprofits, recently closed on a $3 million capital raise.
The new investor money is aimed at helping the 9-year-old company continue to improve its software system and scale operations.
“This raise really is the first sort of injection of jet fuel that we’ve had to enable this kind of growth and development in a short time,” said spokeswoman Beth Brown.
Brown said the financing round took about six months to close and was led by Atlanta-based Dogwood Ventures. Other investors included Meeting Street Capital of Charleston, South Carolina; New York-based The 98 and I2BF; Raleigh, North Carolina-based Front Porch Venture Partners; and Northern California-based Team Ignite Ventures.
Humanitru’s software lets nonprofit users manage memberships, donations, programming, volunteer activities and other operations in a single program.
The company charges a monthly subscription fee for access based on the active number of people served by the nonprofit customer. Most mid-sized nonprofits start subscriptions at around $500 per month, Brown said.
Humanitru CEO Alan Wei
With the new money in hand, Humanitru plans to use some of the funding to expand its AI capabilities, allowing nonprofits to send more personalized messages to donors based on the donors’ previous transactions and interests in past campaigns, Brown said.
Funding will also go toward development of a new feature that will let nonprofits track grants and grant applications.
Brown said customers have been asking for a long time for a tool to assist with grant management, and Humanitru plans to roll out that feature this year.
“We get to deliver a lot of things to [our customers] that they’ve been waiting for, all at once,” Brown said.
Along with expanded capabilities, Humanitru plans to expand its headcount, starting with software developers. That team remains led by CEO and cofounder Alan Wei, who’s also Humanitru’s lead developer.
In the past few weeks Humanitru has hired six employees, bringing its total to 19, Brown said. She said Humanitru is in a rolling hiring process and is adding new positions each quarter.
Wei co-founded Humanitru with COO Megan Newman, PJ Harris and Daniel O’Donnell in 2016. Harris and O’Donnell are no longer with the company.
The company began as a way to bring together businesses and college students to raise funds for nonprofits. Wei previously told BizSense that the team saw a need for a nonprofit-oriented management system and shifted its operation accordingly.
Humanitru is headquartered in Startup Virginia’s incubator at 1717 E. Cary St., where the company has been based since 2018. Previously called Totem, the company rebranded as Humanitru in 2020.
Including the new $3 million raise, Humanitru has raised $5 million in total funding to date, Brown said.
Members of the Humanitru team. (Photos courtesy Beth Brown)
A Richmond-based tech company that caters to nonprofits has just scored a fresh round of cash to help it grow.
Humanitru, which offers a cloud-based management software for mid- to large-scale nonprofits, recently closed on a $3 million capital raise.
The new investor money is aimed at helping the 9-year-old company continue to improve its software system and scale operations.
“This raise really is the first sort of injection of jet fuel that we’ve had to enable this kind of growth and development in a short time,” said spokeswoman Beth Brown.
Brown said the financing round took about six months to close and was led by Atlanta-based Dogwood Ventures. Other investors included Meeting Street Capital of Charleston, South Carolina; New York-based The 98 and I2BF; Raleigh, North Carolina-based Front Porch Venture Partners; and Northern California-based Team Ignite Ventures.
Humanitru’s software lets nonprofit users manage memberships, donations, programming, volunteer activities and other operations in a single program.
The company charges a monthly subscription fee for access based on the active number of people served by the nonprofit customer. Most mid-sized nonprofits start subscriptions at around $500 per month, Brown said.
Humanitru CEO Alan Wei
With the new money in hand, Humanitru plans to use some of the funding to expand its AI capabilities, allowing nonprofits to send more personalized messages to donors based on the donors’ previous transactions and interests in past campaigns, Brown said.
Funding will also go toward development of a new feature that will let nonprofits track grants and grant applications.
Brown said customers have been asking for a long time for a tool to assist with grant management, and Humanitru plans to roll out that feature this year.
“We get to deliver a lot of things to [our customers] that they’ve been waiting for, all at once,” Brown said.
Along with expanded capabilities, Humanitru plans to expand its headcount, starting with software developers. That team remains led by CEO and cofounder Alan Wei, who’s also Humanitru’s lead developer.
In the past few weeks Humanitru has hired six employees, bringing its total to 19, Brown said. She said Humanitru is in a rolling hiring process and is adding new positions each quarter.
Wei co-founded Humanitru with COO Megan Newman, PJ Harris and Daniel O’Donnell in 2016. Harris and O’Donnell are no longer with the company.
The company began as a way to bring together businesses and college students to raise funds for nonprofits. Wei previously told BizSense that the team saw a need for a nonprofit-oriented management system and shifted its operation accordingly.
Humanitru is headquartered in Startup Virginia’s incubator at 1717 E. Cary St., where the company has been based since 2018. Previously called Totem, the company rebranded as Humanitru in 2020.
Including the new $3 million raise, Humanitru has raised $5 million in total funding to date, Brown said.