Fulcrum Equity Partners Announces $18M Series B for Virtuous Software

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Fulcrum's investment will further Virtuous' mission to grow global generosity.

Fulcrum Equity Partners, a software-focused growth equity fund, has announced an $18M Series B in Virtuous, a responsive fundraising platform with integrated payments to help nonprofit (“NPOs”) teams increase donations and improve donor retention. Existing investors MATH Venture Partners, Seven Peaks Ventures, and PHX Venture Partners also participated in the round.

The capital raise will go towards scaling the company’s go-to-market motion, customer success, and product expansion. Virtuous will be hiring across most teams, searching for top tech talent in Arizona and across the US.

“Our growth is requiring us to move faster,” shared Virtuous CEO Gabe Cooper. “We are already driving value to many of the world’s top nonprofits, and this partnership with Fulcrum Equity Partners will accelerate our ability to serve nonprofits to grow global generosity.”

Founded in 2014 and based in Phoenix, Arizona, Virtuous’ platform is purpose-built and uniquely suited to solve for the challenges faced by non-profits today. Virtuous unifies fundraising, marketing, payments, and donor development activities, relieving teams of redundant back-office tasks, and surfacing the insights and signals needed to deliver personal donor experiences at scale.

“The NPO market is in the early stages of digital transformation, and we’re excited to partner with Gabe and the rest of the management team at Virtuous to continue building as a leader in the sector,” states Fulcrum Partner Jim Douglass. “The company’s strong organic growth, customer retention rates, strong reputation, and growing market leadership is reflective of Virtuous’ vision to bring the most innovative technology to its customers.”

“We are enthusiastic about working with Fulcrum,” says Cooper. “We strongly believe their deep software roots, operating experience, and industry connections will enable us to continue our mission.”

About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $600 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum’s initial target investment is $5 million - $25 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity, and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum’s target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum’s limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.

About Virtuous
Virtuous is a technology company committed to helping nonprofits grow generosity. Much more than a nonprofit CRM, Virtuous is a suite of responsive fundraising platforms designed to help nonprofit teams build better supporter relationships and increase impact with confidence. Virtuous helps unify fundraising, marketing, and donor development activities, ridding teams of redundant back-office tasks, and surfacing the insights and signals needed to deliver dynamic donor experiences at scale. Learn more at https://www.virtuous.org.

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Peter Franconi
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