US-based online fundraising platform developer Omaze raked in $85m yesterday in a series C round featuring Telstra Ventures and BDMI, investing on behalf of telecommunications company Telstra and media group Bertelsmann respectively.
Investment firm Moore Strategic Ventures (MSV) led the round and was joined by Wndrco, FirstMark Capital, Causeway Media Partners, Mockingbird Ventures, Pegasus Ventures and assorted private investors.
Founded in 2012, Omaze operates a charity and social impact-focused crowdfunding platform that gives donors the chance to win prizes including cars, homes, trips and experiences with public figures.
The funding will support expansion in the European market, following an entry into the UK in 2020 resulting in month-on-month growth of over 30% in the country. The company expects to generate over $300m in donations to charities over the next two years.
FirstMark led Omaze’s $30m series B round, which was also backed by BDMI, Causeway Media Partners, Tusk Ventures, Gaingels, Inherent Group and Guy Oseary, in August 2020. It had also led a $9m series A in 2015 that included CrossCut Ventures, FFVC, Dave Leyrer, Adam Press and Dave Gilboa.
Omaze co-founder and chief executive Matt Pholson said: “A big part of what drives us at Omaze is fighting inequality of opportunity. By offering everyone the opportunity to win a $5m house or go to space, we can fund the causes creating opportunities for the underserved.
“This funding empowers us to expand our prizing and donor base internationally. We are excited to work with MSV and our entire group of investors who recognise that the best way to create enduring impact at a global scale is to build an enduring business at a global scale.”
