By Erin Mulligan Nelson
Today marks an incredibly important milestone in the history of Social Solutions. We’re joining with EveryAction and CyberGrants, through funding from Apax, to create one landscape-defining entity that will deliver a disruptive, powerful software platform for social good. We are confident that this combination will turbocharge our ability to accelerate lasting social change and help our clients serve even more people across more communities.
Social Solutions clients will still work with all the same Social Solutions team members on the same Social Solutions software they love, but they will also have the opportunity to incorporate EveryAction’s best-in-class omni-channel engagement platform and CyberGrants’ grant making and employee engagement software into their software ecosystem. As we roll out the new company, there will be much more information to come around our collective clients’ ability to realize efficiencies by bundling services.
Apax is the perfect partner to help us collectively do good, given their outstanding track record as a tech investor and their focus on impact. We’re excited that Vista Equity Partners, who has been instrumental to our growth for several years, will maintain a minority ownership position in this new combined company.
By bringing these three companies together, Apax is boldly delivering on a vision that Social Solutions and others in the industry have held as core to truly transforming the social good sector. We will deliver enhanced value to nonprofit and public sector organizations, donors and constituents through innovation and accelerated growth. The new combined organization is well-positioned to not only provide actionable insights and analytics around participant connection, outcomes and funder enablement but also match nonprofits looking for more donations and volunteers, with the philanthropists, foundations, companies, and employees who are looking for more opportunities to donate and volunteer.
EveryAction supports over 18,000 nonprofits’ missions by helping them optimize stakeholder interactions, raise more money and build more support. And CyberGrants powered over $6 billion just last year in employee-matched contributions, foundation/corporate grants and other donations, and facilitated over 50 million volunteer hours by employees.
In 2006, Apax established the Apax Foundation to focus on grants and employee donations that enable social mobility in underserved communities. This experience, coupled with the Apax Tech team’s deep expertise in enterprise software, makes Apax an ideal partner, and will help us continue to invest in product innovation, and also continue to acquire companies that have best-in-class products that add real value to social good organizations.
The new company will have a combined annual revenue of over $200 million and will be the second-largest and fastest-growing social good software company in the world. This transaction is several times larger than any M&A in the history of the social good software sector. The combination of three great companies will maximize our collective impact, by bringing together world-class talent and products, and proving that companies can both do good and do well, at scale. We believe the resulting innovative products and the connectivity between donors and nonprofits will help our clients reshape philanthropic giving, increase impact and fuel community engagement.
We are incredibly excited about this endeavor, and we’re grateful to be able to accelerate our ability to provide enhanced value to nonprofit organizations, public sector agencies, donors and participants. Our mission to empower lasting social change hasn’t changed. We have found two great companies that are as passionate about accelerating social good as we are, and together we will transform the social good sector and deliver even greater impact. The future of social good is now.
You can read more about this exciting news in the press release issued today.
Curious about EveryAction or Cybergrants? Reach out here.
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