Prominent Investors Plug $9 Million In Funding For Causes.com
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Causes is an online philanthropy service that was started by Joe Green and Sean Parker. Causes recently raised $9 million in Series C funding from Founders Fund, Marc Benioff, Dustin Moskovitz, Karl Jacob, Keith Rabois, and Ron Conway. Scott Sandell will also be joining as an observer on the Causes board of directors. Green said that the company plans to use the funding for building their team.
Causes primarily grew as a Facebook application, but now they are focusing on the Causes.com website. Causes has been able to raise about $40,000 donations per day to spread across multiple charities. Causes gift cards are now selling at Safeway grocery stores and Vons in California. Causes keeps about 10% of profits and gives the rest to charities specified by users. Causes has about 119 million application installs on Facebook and has about 25 million monthly active users. Causes has $16 million in total funding.