US-based crowdfunding platform Classy secured $18m in funding on Tuesday from investors including cloud computing company Salesforce.com’s corporate venturing arm, Salesforce Ventures.
The round was led by venture capital firm Mithril Capital Management and also featured VC funds Bullpen Capital, Venture51 and Galileo Partners, and VC firm Rethink Education, which invested through its Rethink Impact subsidiary. Classy has reserved $2m of the $18m for unnamed strategic backers.
Founded in 2011, Classy operates a fundraising platform for non-profits and social enterprises, attracting organisations including Oxfam, National Geographic, Heifer International and disaster relief organistion Team Rubicon.
The funding will be used to develop new products and sign up more non-profits across the world. Classy has not disclosed details about previous rounds, but according to the company’s website it has a total of 40 investors.
Suzanne DiBianca, president and co-founder of Salesforce’s philanhropic arm, Salesforce Foundation, has joined Classy’s advisory board in conjunction with the round.
DiBianca said: “At the Salesforce Foundation, we are passionate about using technology to change the world. Classy is another amazing example of the powerful impact that technology can have, and I am thrilled to be joining the Classy advisory board.”