Virtuous Software Inc. has raised $3 million in fresh capital to help more nonprofits raise money.
The Phoenix-based customer relationship management and marketing automation software helps nonprofits tailor messages to individual donors, track donors by their passions or geographic location and use big data analytics to see which relationship needs more attention.
The company's Series A financing round was led by Chicago-based Math Ventures, and included participation from Arizona Tech Investors, Desert Angels, Arizona Founders Fund and Maclellan Foundation Inc. from Chattanooga, Tennessee.
The money will be used for sales and marketing, said Virtuous CEO and founder Gabe Cooper.
“We’ve been doubling our revenue and customers year over year, and we would like to ramp that up even faster,” said Cooper, who didn’t disclose revenue or customer numbers. “This gives us the opportunity to serve more nonprofits, help them raise more money and have a bigger impact on the world. We want to help them increase their impact.”