Funraise Secures $3 Million

Nonprofit technology startup Funraise announced it has raised $3 million in seed financing. Two investors contributed to the round, including Toba Capital.

Funraise was started by cofounders Jason Swenski, Justin Wheeler, and Tony Sasso while they were working together at a nonprofit organization. Together the three co-founders had more than 15 years of nonprofit experience and had raised millions of dollars online, but they were continually devoting significant resources to implementing technology solutions for their fundraising ideas. The experience motivated them to create Fundraise, a complete nonprofit fundraising platform that manages everything from donation forms and wealth screening to donor management, automated emails, and other related services.

In its announcement, the company said the investment allows Funraise to accelerate the company’s product roadmap, helping nonprofits break through decades-old fundraising strategies that are no longer relevant to the modern donor.