Investment Will Accelerate the Platform’s Reach, Fueling Company Growth
EL PASO, Texas, June 22, 2023 — FundMiner, the AI-powered platform that helps fundraising organizations measure and maximize impact, today announced that it has raised $1.725 million in funding. Arizona-based Sonoran Founders Fund led the round, followed by Techstars, Cascade Seed Fund and more. The money will be used to accelerate the company’s growth and expand its reach in the advancement technology space. FundMiner serves an array of businesses and nonprofits, from higher education & K-12 schools, to nonprofits & community foundations, academic medical centers, arts & cultural organizations, religious organizations and beyond.
“Our organization relies on philanthropic support from our donors,” said Jake Logan, vice president for Institutional Advancement at The University of Texas at El Paso (UTEP). “Our ability to spend and manage our donors’ generous gifts is absolutely critical in inspiring their trust in our institution.” Logan shared that the system UTEP used previously made things difficult. “Before FundMiner, we did what most fundraising-driven entities do: relied on disparate systems and combined the data from those systems manually in Excel spreadsheets to handle gift administration. Needless to say, this approach was ineffective and time-consuming. FundMiner’s streamlined solution is a breakthrough in our industry. It gives us access to the critical data, analytics and reports that will help us run a truly successful fundraising operation. FundMiner has had a profound impact on how we deliver for our donors. We’re already seeing it pay off in the form of increased giving from current donors.”
When fundraising organizations aren’t effective with gift administration processes, they experience unhappy donors, a loss of future funding, and underutilization of resources. FundMiner is transforming an outdated industry, in which deans, department chairs, other members of the leadership and those in the advancement office captured information manually, churned out ad hoc reports and dealt with unreliable, inefficient results. Now, this can all change. The AI-powered platform:
- Makes fund data accessible
- Reduces siloed systems
- Tracks fund usage & compliance
- Increases automation and efficiency
- Offers a portal to provide easy impact reporting
- Uses intelligent analytics to help leaders make informed decisions
- Reduces risks related to negative publicity and legal exposure
- Is complementary to products that many users already have in place, like Blackbaud’s Raiser’s Edge, Oracle’s Peoplesoft and Salesforce
Customers and prospects are enthused by the platform’s features to measure and maximize impact, and reduce traditionally siloed activity in their organizations. To learn more, please visit https://fundminer.com/.
About FundMiner
Founded in 2022 by Chelsea Lamego and Alejandro Stevenson-Duran, FundMiner’s software helps large fundraising organizations, like universities and community foundations, automate and simplify management of their philanthropic funding. By bringing together data from previously siloed systems and applying intelligent analytics, FundMiner enables customers to experience more effective capital utilization, increased fundraising revenue and improved donor satisfaction. To learn more, please visit https://fundminer.com/.
SOURCE FundMiner
