Banyan Software, a leading acquirer and permanent home for software businesses, announced the launch of the Banyan Software Foundation. This Foundation will focus on supporting organizations that utilize technology to build a greener and more equitable world. With a $100 million commitment of stock over the next four years, the Foundation will become one of Banyan Software’s largest shareholders, and its impact will continue to grow in tandem with the company’s success.
The Foundation’s two inaugural $1 million grant recipients—TransitionZero and Merit America—address critical global challenges. Fossil fuels account for 80% of global energy use, which highlights the urgent need for accelerated transitions to renewable sources to meet international climate goals.
TransitionZero (based in the UK) builds open-source data and software products for energy systems modeling, helping low-income countries develop and implement their own energy transitions. Merit America, a US-based nonprofit organization, combines online coursework with personalized coaching to help quickly re-skill low-wage workers so they can obtain family-sustaining careers.
Along with launching the Foundation, Banyan Software is introducing multiple new internal purpose-driven initiatives. And these include dedicated funds for employee learning and skills advancement, an Employee Relief Fund for those going through extreme hardship, and a volunteer time off program.
KEY QUOTES:
“We wanted to take a bold step and make this a defining part of our identity, including at the ownership level. We’ve always focused on creating an enduring positive impact in our businesses and people but saw the opportunity to scale that impact even further. We believe this represents one of the largest instances in history of a technology company contributing stock to a foundation, amplifying our ability to create positive change in the world.”
-David Berkal, CEO of Banyan Software
“The grant will support our Solar Asset Mapper project, which is a vital tool for grid operators and analysts, helping them navigate and manage the rapid rise of solar energy as it takes center stage in the global energy landscape. Banyan is helping us improve access to critical data for effective energy systems planning, empowering countries to pursue sustainable energy solutions independently.”
-Matthew Gray, CEO and Co-founder at TransitionZero
“We’re deeply grateful to the Banyan Software Foundation for their generous support, which will unlock the resources to help thousands of learners move from low-wage jobs to family-sustaining careers. On average, our learners experience a $24,000 wage gain three or more months after completing our program, boosting their annual salary from $26,000 to $50,000. Grants like this are the lifeblood of our continued impact, ensuring we can keep driving real change where it matters most—in the lives of our learners.”
-Connor Diemand-Yauman and Rebecca Taber Staehelin, co-CEOs of Merit America
