16 May HOMEGROWN APP ON NATIONAL GROWTH PATH
Posted at 19:46h in Uncategorized
HOMEGROWN APP ON NATIONAL GROWTH PATH
RAISES $1.5 MILLION IN SECOND ROUND OF FUNDING
Alabama Capital Network members invest in continued capital growth in Planet Fundraiser
BIRMINGHAM, Ala. (Feb. 26, 2018)—Mobile app Planet Fundraiser recently sealed its second round of seed funding at $1.5 million, propelling the Birmingham, Ala.-based startup into its next stage of regional and national growth. Members of the Alabama Capital Network—a group of top businesses and investors supporting the state’s innovation sector—contributed to the majority of financing, supporting Planet Fundraiser’s continued momentum as it scales its sales processes and employee base for market expansion.
“The Alabama Capital Network is thrilled to see its members invest in a company like Planet Fundraiser,” said Miller Girvin, Alabama Capital Network CEO. “This company and its technology have changed the way merchants look at charitable giving, and we expect its current momentum to continue.”
Planet Fundraiser equips consumers, companies and causes with a fresh approach to fundraising. The free app enables customers to submit a picture of their receipt from any participating merchant. Then a portion of that purchase is donated by the merchant to a cause of the user’s choice. More than 400 community groups and 250 businesses such as Chick-fil-A, Shipt, Jimmy John’s, and Piggly Wiggly make up Planet Fundraiser’s community giving network. Thousands of users are engaged across Planet Fundraiser’s existing markets, which include Dallas, TX, Nashville, TN, and four of Alabama’s largest cities. Planet Fundraiser continues to see rapid growth of new users, merchants, and groups signing up daily, with plans to expand the app network to more than 20 total markets by year-end.
“Planet Fundraiser’s merchant and community partners are the driving force behind our app, and this second seed round of funding was secured largely to meet their growth demands,” said Planet Fundraiser Founder Kasey Birdsong. “With our investors’ support, we’re in a position to expand and enrich our footprint—while giving merchants a way to deepen customer loyalty and retention. By shifting marketing dollars to our program, merchants gain loyal customers while supporting the causes their customers care about in the community. It’s a win-win.”
Devon Laney, CEO of Innovation Depot, the Southeast’s largest entrepreneurial support organization for early-stage tech companies, was excited to see a member startup company and graduate of its Velocity Accelerator program receive funding. “The inaugural year of our Velocity Accelerator program was a learning experience for everyone, but we believe in Planet Fundraiser,” said Laney. “The team there has built a solid product and continues to improve every day, adding value to both the merchants and the groups that receive charitable funds. We are proud to be a part of the Planet Fundraiser success story and to have them continue growing at the Innovation Depot.”
To learn more about Planet Fundraiser, please visit www.PlanetFundraiser.com. To learn more about the Alabama Capital Network, visit www.AlabamaCapitalNetwork.com.
Planet Fundraiser is a mobile app that allows customers to support schools and nonprofit organizations of their choosing by making everyday purchases from the Planet Fundraiser network of shops, restaurants and grocery stores. By donating a percentage of each purchase, Planet Fundraiser and its merchant partners support the causes that customers care about and build stronger communities together. Learn more at www.PlanetFundraiser.com and connect with us on Facebook, Instagram and Twitter.
About Alabama Capital Network
The Alabama Capital Network (“ACN”), founded in 2017, is a community economic development organization whose mission is to raise awareness of and contribute to the growth of the entrepreneurial ecosystem in Alabama. ACN is a network that facilitates connections among entrepreneurs, investors, advisors, service providers and corporations to bridge the funding gap faced by Alabama companies in the early growth phase of business. Learn more at www.alabamacapitalnetwork.com.