Social Good Company backed by Apax Funds welcomes fundraising software provider as they transform the social good sector through technology and data
AUSTIN, Texas—Jan. 4, 2022—The social good software platform backed by funds advised by Apax Partners LLP (“Apax”) and formed through the combination of CyberGrants, EveryAction, and Social Solutions (“the Company”), today announced that it has reached an agreement to acquire Network for Good, a Certified B Corporation and leading provider of cloud-based fundraising software for nonprofits. Terms of the transaction were not disclosed.
Network for Good, which will be the first acquisition for the recently formed Company, helps small and mid-sized nonprofits cultivate donor relationships with a unified donor management and fundraising software platform. A mission-driven organization, Network for Good has been a pioneer in the digital fundraising space and has enabled thousands of nonprofits to raise billions of dollars.
“We are thrilled to welcome the Network for Good team and its customers to our Company. Network for Good has an incredible history of helping small and mid-sized nonprofits increase their fundraising capabilities through a modern and intuitive software platform,” said Erin Mulligan Nelson, CEO of the Company. “Together, we will offer best-in-class technology solutions to nonprofits of all sizes. We look forward to working with Bill and the entire Network for Good team to help our customers increase support, improve outcomes, and create lasting social change.”
The acquisition of Network for Good will expand the Company’s modern software offerings for small and mid-sized nonprofits as it continues its mission to create the leading provider of next-generation Software-as-a-Service (“SaaS”) solutions for the social good ecosystem. Existing Network for Good customers will have the opportunity to access a broader suite of next-generation solutions that will enable them to increase efficiency and build more support.
With the addition of Network for Good, the Company is further empowering nonprofits, public sector agencies, corporations, foundations, and individual donors to capitalize on digital transformation and do more good via innovative software. By expanding the offerings of all platforms involved and increasing the scope and velocity of product innovation, the Company will create additional value for users while improving outcomes for those served.
“We’ve been on a 20-year mission to make fundraising easy for small and mid-sized nonprofits. I am extremely proud of the work we have accomplished to date, and I believe that by partnering with Erin and team we will expand our ability to help nonprofits enhance relationships with their supporters and grow their missions,” Bill Strathmann, CEO of Network for Good, commented. “This is a great home for Network for Good, with its kindred focus on impact, and we are excited to leverage the combined Company’s leading software solutions to the benefit of our customers and the sector.”
The transaction is subject to customary closing conditions and is expected to close in January 2022. The Company was advised by Canaccord Genuity and Skadden, Arps, Slate, Meager & Flom. Network for Good was advised by Raymond James and Goodwin Procter.
About the New Social Good Software Platform
CyberGrants, EveryAction and SocialSolutions (“the Company”) combined in September 2021 to create the second-largest and fastest-growing social good software company in the world. The Company’s differentiated, end-to-end solutions collectively support a unique network of 650,000 nonprofit organizations, many of the most respected companies and foundations in the world, including half of the Fortune 100, and over 38 million donors and volunteers.
About Network for Good
Network for Good (a New York corporation) helps small nonprofits cultivate donor relationships and advance their missions with simple, smart fundraising software, personal coaching, and online resources. As a mission-driven, Certified B corporation spun out as a private company in 2013, Network for Good has a legacy of providing trusted support to over 500,000 nonprofit leaders and has helped pioneer the online fundraising space by enabling nonprofit organizations to raise billions of dollars from their supporters.
The Network for Good Donor Advised Fund is not a part of the sale and will remain an independent 501(c)(3) developing programs that empower donors with frictionless ways to give to the causes they care about.
Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.
Lucy Moran, Chief Marketing Officer / 512 975 0465 / [email protected]
Luke Charalambous / +44 20 7872 6494 / [email protected]