Funderful – the SaaS (software as a service) solution for education institutions to manage their fundraising campaigns – has joined the world’s leading startup accelerator 500 Startups as part of its 20th "batch". Together with the USD 150,000 worth of investments from the accelerator, the company also attracted investment totaling EUR 360,000 with Imprimatur and Startup Highway, as well as from private investors.
Raimonds Kulbergs, 'Funderful' founder: "Every year, universities in the United States alone attract USD 11 billion worth of donations from alumni. With Funderful, this could be three-folded. We are concentrating on rapid growth at the moment, and joining 500 Startups is another step in allowing us to capture the U.S. market. These achievements encourage us to development even further – we are already preparing for the next round of investments."
Marvin Liao, 500 Startups partner: "For each 500 Startups "batch" we receive approximately 2,000 applications. With such fierce competition for just one spot, making it into 500 Startups is even hard than being accepted at Stanford, Yale or Harvard universities. Funderful attracted our attention at the Digital Freedom Festival with its excellent business prospective, impressive achievements, as well as potential to dominate the U.S. alumni donations market."
Funderful is an on-line platform which allows universities to increase alumni activity and donations three-fold. The company has already teamed up with clients in eight countries, including Oxford and Cambridge, the London Business Schools, and many others. These universities have been able to attract millions in donations through Funderful.