Nonprofit Software Provider Resilia Raises $35M
After nearly a decade advising nonprofits and funders of all sizes, Sevetri Wilson set out to use technology to transform the nonprofit sector.
In 2016, she launched Resilia, a software solution that enables nonprofits to increase their capacity and funders to go beyond their grant allocations through technical assistance, coaching and mentoring. capacity building support.
Resilia has more than 15,000 nonprofit users and corporate clients, including Oxfam America, the Robert Wood Johnson Foundation, Goldman Sachs’ One Million Black Women Initiative, the Silicon Valley Community Foundation, the United States Tennis Association Foundation, and the Boston Foundation.
The company has experienced annual revenue growth of over 300% while increasing net revenue retention by over 150%.
On Thursday, the New Orleans and New York-based company announced it had closed $35 million in a historic Series B round to further help nonprofits increase their daily capacity and impact. donors with resources that go beyond a simple monetary investment. to agree.
The round was co-led by Panoramic Ventures and Framework Venture Partners. Returning investors include Mucker Capital, Callais Capital, Cultivation Capital, Engage Ventures, SoftBank Group’s SB Opportunity Fund, Kimble Ventures, The Jump Fund and Fearless Fund. New investors include Goldman Sachs Asset Management Fund, Chloe Capital, Gaingels, Mana Ventures and others.
The latest funding will be used to scale Resilia’s technology platform and expand access to the sector by integrating more North American organizations into its ecosystem – and comes at a time when 86% of US backers are providing a supporting nonprofit capacity building through investments in areas such as leadership development, fundraising, evaluation and learning, communications, technology, collaboration, or DE&I.
In addition, capacity building support “beyond the grant” [such as Resilia’s platform] is a key avenue for funders seeking to support equity and justice efforts, according to the National Committee for Responsive Philanthropy.
“Our goal at Resilia has always been to provide access to nonprofits, something our team has worked tirelessly to achieve,” Wilson said in a recent press release. “This latest investment brings us closer to realizing our vision of democratizing philanthropy by reallocating power over its decision-making and resources, as well as providing more seats at the table.”
While Black and Latina founders received less than 1% of combined VC funding in 2021, Resilia’s latest capital raise marks another historic feat: it’s the biggest raise ever for a company. tech founded by a solo black woman, and also marks the biggest venture capital raise. of a founding woman in the state of Louisiana.
Resilia made history by closing an $8 million Series A in 2020, the largest venture capital round by a technology company founded by a woman in the state of Louisiana.
With nearly $50 million in venture capital to date, Resilia’s latest funding round marks the largest-ever raise for a technology company founded by a black woman.
-Tony O. Lawson
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