EverTrue, a software company that aims to modernize fundraising efforts at educational institutions, announced that it has secured $6MM in additional funding led by University Ventures with participation from existing investor Bain Capital Ventures. The financing will be used to drive further software innovation as the company continues its mission to power the future of higher ed advancement. This most recent round brings EverTrue’s total funding to $23.5MM.
Over the last three decades, the number of nonprofits has increased by more than 200 percent, leaving only 15 percent of total philanthropic dollars for education. As colleges and universities adjust to this shift, advancement leaders are focused on building strong, long-term and sustainable strategies to connect with alumni and build donor bases more efficiently, intelligently and collaboratively.
“Throughout the last 40 years, advancement teams have played it safe, but this status quo approach is costing us donors and dollars,” said Josh Newton, president and CEO of the UConn Foundation. “It’s time for our industry to adapt and embrace a more modern, omni-channel and personalized outreach strategy that engages alumni based on their interests. As UConn begins to change course, we are lucky to have a forward-looking partner like EverTrue to help us navigate this uncharted territory and provide the valuable insights we need to help inform our strategy.”
Founded in 2010 by CEO Brent Grinna, EverTrue aims to redefine the advancement technology space as the only cloud-based platform that gives advancement professionals the ability to meet constituents where they are and engage them in meaningful conversations based on an individual’s interests and preferences.
Through integrations with Facebook, LinkedIn, Zillow, Google and more, EverTrue surfaces the full story behind each constituent, offering advancement teams modern data and tools to engage alumni, raise support and measure team progress all in a user-friendly user interface.
“As the consumer loyalty experience has shifted to mobile, social and data-driven solutions, the expectations of donors, volunteers, staff and leadership have changed,” said Brent Grinna, founder and CEO of EverTrue. “After working side-by-side with hundreds of institutions over the last seven years, we know that most schools are sitting on a trove of data that, if acted upon, would enable stronger connections with alumni, parents and friends. At EverTrue, we believe the future of advancement is a connected experience that makes these insights easily accessible and actionable, whether you work in major giving, prospect research, annual giving or alumni engagement. University Ventures, a seasoned and mission-driven higher ed expert, is the perfect partner to help us advance our vision.”
Today, EverTrue is improving fundraising results for more than 300 partners ranging from public and private universities, to liberal arts colleges, to graduate and independent schools. In addition to the UConn Foundation, current customers include Oregon State University, Boston University, Williams College, the NYU Stern School of Business, Sidwell Friends School and more.
“One of great values of EverTrue is that you can get started right away with little or no training,” said Ray Joyce, director of development at Boston University’s School of Theology. “With EverTrue, my trip planning time has been cut in half and it has helped me build relationships with new donors; it’s a fundraiser’s dream.”
University Ventures invests in entrepreneurs and institutions that are reimagining the future of higher education and creating new pathways from education to employment. Troy Williams, managing director of University Ventures, will join EverTrue’s board of directors.
“EverTrue’s unique, data-driven and personalized approach makes the company the leading innovator in the advancement space,” said Williams. “EverTrue’s employees showcase a deep commitment to helping colleges and universities transform the fundraising experience. We’re impressed by the EverTrue team’s ability to think creatively and look forward to supporting this next chapter of development and growth.”
Material from a press release was used in this report.