Perhaps it’s no surprise that a tech company that’s all about alumni fundraising knows how to fundraise itself.
Boston startup EverTrue has closed an $8 million Series B financing round led by previous investor Bain Capital Ventures, with some of the money coming from Silicon Valley Bank. The 40-person company has raised a total of $14.5 million since its founding in 2010.
EverTrue makes software that helps universities, prep schools, and nonprofits find potential donors and communicate with them through social and mobile channels. The company’s customers include Boston University, Brown University, Colgate University, and Oregon State.
EverTrue is led by CEO and founder Brent Grinna, who was part of the 2011 Techstars Boston accelerator class that also included Hardi Meybaum (GrabCAD), Sravish Sridhar (Kinvey), Dave Bisceglia (The Tap Lab), and Matt Barba (Placester), among other up-and-comers. EverTrue also went through the MassChallenge startup program.
Meanwhile, Silicon Valley Bank is starting to show up in more startup investment deals. The financial institution invested in an equity round for Boston-based Startup Institute last month, as banks and financial services firms are trying to get closer to tech startups and entrepreneurs.
Author: Gregory T. Huang
Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003.
Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.
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