- Boardable, an online board management platform company, announced it raised $3 million in a seed round of funding
Boardable — an online board management platform company — announced it raised $3 million in a seed round of funding from High Alpha Capital along with VisionTech and Collina Ventures.
And after raising $1 million just a few months ago, Boardable will be using the new investment to accelerate its mission of increasing board member engagement for nonprofits. Plus Boardable plans to accelerate the growth of its team, add product options, increase marketing efforts, and double its full-time employees at the company by the end of 2020
The company is hoping to have 30 employees in the next year. And the company is planning o add another office in Australia to service and educate their audience of nonprofits around the world. This round funding will be used to develop and roll out new product options aimed at small nonprofits, volunteer groups, and businesses as well as more options for customers needing advanced features and functionality.
“The funding and expertise that High Alpha provided in 2019 has proven successful and helped us more than triple recurring revenue so far this year,” said Jeb Banner, CEO of Boardable. “Heading into 2020, we have even bigger aspirations for the company. We want to serve as many of the 10 million nonprofits around the world as we can. We believe a healthier board has a ripple effect, expanding out through a healthier nonprofit to improve the health of the entire community.”
Boardable’s software enables nonprofits to create healthy and effective boards. And the company currently has over 500 customers in more than 25 countries and sixteen full-time employees based in Indianapolis. Prior to this raise, Boardable has raised over $2 million in funding since its founding in 2016.
“Boardable has proven to be an essential tool for nonprofits looking to better engage their board members. We are thrilled to continue our relationship with Boardable as they expand their services to customers across the globe,” added Eric Tobias, partner at High Alpha. “With our last investment, we have seen that Boardable is transforming the nonprofit tech space and we are excited to help them accelerate their growth even more.”
