Bloomerang Receives Strategic Growth Investment from JMI Equity
Company Positioned for Further Growth as Nonprofit Industry’s Emerging and Innovative Donor Management Software Provider
INDIANAPOLIS, September 17, 2020 — Bloomerang, the innovative donor management software provider to thousands of nonprofits, today announced that it has received an investment from JMI Equity, a growth equity firm focused on investing in leading software companies.
The funding will allow Bloomerang to further help its nonprofit clients deepen and advance the level of engagement with their donor relationships.
“We started Bloomerang with a vision to improve nonprofit effectiveness through smart, intuitive technology and world-class customer service and support,” said Ross Hendrickson, CEO of Bloomerang. “This partnership with JMI allows us to retain our autonomy as a company, while giving us access to resources that will help us continue to grow and further our mission of helping nonprofits do good.”
This investment comes on the heels of Bloomerang being named a Best Place to Work in Indiana for the fifth consecutive year, as well as nearly doubling its campus earlier this year through the purchase and renovation of a historic building adjacent to its current headquarters.
“Bloomerang is an emerging leader in the donor management space. The company’s powerful yet easy to use tools are highly effective in helping customers more efficiently achieve their mission by improving donor retention, increasing donor engagement and increasing donor lifetime value” said Larry Contrella, Principal at JMI Equity. “We’re excited to partner with Bloomerang to expand the ways in which it serves the nonprofit community.”
JMI’s Mr. Contrella, David Greenberg, General Partner, and Vinny Prajka, Partner, will join Bloomerang founder Jay Love and current Bloomerang CEO Ross Hendrickson on Bloomerang’s Board of Directors.
Canaccord Genuity acted as financial advisor to Bloomerang.
Steven Shattuck served as the chief Engagement Officer at Bloomerang for 10 years. A prolific writer and speaker, Steven contributed to “Fundraising Principles and Practice: Second Edition.” He also supports the Association of Fundraising Professional's Fundraising Effectiveness Project, serves as an AFP Center for Fundraising Innovation (CFI) committee member, and sits on the faculty of the Institute for Charitable Giving. He is the author of Robots Make Bad Fundraisers - How Nonprofits Can Maintain the Heart in the Digital Age, published by Bold and Bright Media (2020).
You can find Steven Shattuck on LinkedIn