- Resilia, a SaaS platform for nonprofits, announced it raised $8 million in Series A funding
Resilia, a SaaS platform for nonprofits, announced it raised $8 million in Series A funding led by Mucker Capital and Callais Capital Management with participation by Cultivation Capital. The funding will be used to support the company’s growth and increased demand.
Along with being one of the largest series A rounds of an enterprise software company headed by an African American female founder, this round of funding also marks the highest venture capital raised by a female-founded tech company in the state of Louisiana. Resilia works as a two-sided market enabling grantors like cities, private foundations, and corporations to deploy capital quickly and efficiently while giving nonprofits expanded tools for compliance, management, training, and funding.
Launched by serial entrepreneur Sevetri M Wilson in 2016, Resilia is on a mission to harness the power of technology and human connection to bridge gaps between those deploying capital and those on the receiving end. Plus the company wants to democratize innovation for the entire nonprofit industry.
The platform’s Nonprofit Formation product — which is available in all 50 U.S. states — offers a “turbo tax” approach thus expediting the process of incorporating and applying for tax exemption. And for existing nonprofits, Nonprofit Pro and Plus help organizations stay compliant while increasing capacity through online training, webinars, and other resources geared for productizing consultancy services, drastically reducing costs to nonprofits. Plus Resilia’s Enterprise solution enables grantors to streamline data collection, track their budgets, and manage grantees, reporting, and evaluation while providing much-needed capacity support to the projects and organizations that they fund.
So far, Resilia’s 2,800+ customers have ranged from small to mid-sized nonprofits, government offices, private foundations, and corporations. And the company’s notable customers include Oxfam America, Kellogg, The United Way, and Stem Library Lab.
Before the Series A round, the company raised $400K pre-seed and $2 million seed capital which included investors like Kevin Lin (formerly of Twitch) and Tim Millikin (partner at TPG Capital), Newark Venture Partners, New Orleans StartupFund and others. The follow on investors include Next Wave Ventures, Engage, and The JumpFund.
Key Quotes:
“We spotted Resilia early-on, and have been impressed with Sevetri’s leadership and her team’s ability to identify market needs, move quickly, and expand their products to serve the complex needs of grantors and grantees.”
– William Hsu, co-founder and partner at Mucker Capital – who also joined Resilia’s board.
“Resilia has made a tremendous impact by building an innovative platform for both early-stage non-profits and some of the world’s largest foundations, and we look forward to helping them continue to scale. Their platform is particularly necessary during times of crises to ensure oversight, management, and transparency. We’ve already seen tremendous opportunity in the last several weeks with the coronavirus pandemic and the subsequent deployment of funding specifically earmarked for such relief.”
– Harold Callais, managing partner and CIO at Callais Capital Management
