Network for Good Joins Landscape-Defining Social Good Software Platform
BALTIMORE, Maryland (January 5, 2022) – Camden Partners today announced Strategic Fund V portfolio company Network for Good, a Certified B Corporation and leading provider of cloud-based fundraising software for nonprofits, has reached an agreement to be acquired by an Apax-backed social good software platform formed through the combination of CyberGrants, EveryAction, and Social Solutions (“the Company”).
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’re proud of the growth Network for Good has achieved, providing more nonprofits with the tools they need to effectively fundraise,” said Meghan McGee, Partner at Camden Partners. “It’s been a pleasure working alongside Bill Strathmann and the entire Network for Good team as they’ve expanded their innovative software platform. We look forward to the their continued success in this next phase of the Company’s growth.”
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.
“This exit continues Camden’s record of backing strong management teams in technology businesses,” said David Warnock, Partner at Camden Partners. “It’s also another deal sourced through our serial relationships with successful executives. We are grateful for Vince Talbert’s role since Camden’s original investment in April 2014.”
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 and Camden Partners has been an integral contributor for much of this journey,” 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 Social Solutions (“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 of650,000 nonprofit organizations, many of the most respected companies and foundations in the world, including half of the Fortune 100, and over 38million 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 independent501(c)(3) developing programs that empower donors with frictionless ways to give to the causes they care about.
About Camden Partners
Founded in 1995, Camden Partners is a growth equity firm that helps the management teams of enterprise software and technology-enabled companies scale their businesses. Camden has invested in 85companies across six growth-equity funds and is known for providing creative and flexible growth capital. By focusing on the same strategy for over 25 years, the firm’s partners leverage deep domain expertise and a network of operating executives to help management teams grow revenue and cash flow. With initial equity checks between $5 million and $15 million, Camden is a preferred partner for owner-operators who are dilution sensitive.