Global growth private equity investment firm Warburg Pincus has made a strategic investment in Bloomerang, a donor, volunteer and fundraising management software platform for small and medium-sized nonprofits.
In a press statement, Bloomerang said that the funding – combined with JMI Equity’s investment in 2020 and the company’s recent acquisition of Qgiv – will help it “deliver the sector’s first fully-integrated giving platform”.
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This investment comes on the heels of Bloomerang’s recent acquisition of Qgiv, a provider of fundraising technology solutions, as well as the earlier acquisition of InitLive, a leading provider of volunteer management software. The company now serves 23,000 nonprofit customers, processes $1bn in donations for nonprofits and has plans to continue to hire staff and add new resources to help nonprofits succeed.
As part of the deal, Andrew Park, Sam Lipsick, and Peter Kimmey from Warburg Pincus join JMI, which invested in 2020, on the Bloomerang board.
Source: Privat Equity Wire
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