BidPal Receives $6M Boost

Posted: Updated:
(Image of employees courtesy of BidPal) (Image of employees courtesy of BidPal)
INDIANAPOLIS -

Indianapolis-based BidPal Inc. says a new $6 million round of funding will help "aggressively expand its business." The mobile fundraising platform received more than half the funding from MK Capital of Chicago and Launch Fishers-based Allos Ventures. Pacific Western Bank division Square 1 Bank is providing $2.5 million in credit.

The company says the funds will "significantly accelerate" platform, integrated payment processing and analytics suite product development, as well as boost marketing and sales efforts and open new opportunities in peer-to-peer fundraising.

CEO Steve Johns says "we're really just scratching the surface in terms of the opportunities for digital giving. This financing will help us achieve our mission of connecting donors and organizations with affordable, best in class fundraising tools."

This year, BidPal says its clients ran more than 2,500 campaigns raising hundreds of millions of dollars for their causes and it says the number of event fundraisers using BidPal technology grew by 33 percent this year. Its software subscribers also grew at a similar rate.

You can connect to more about the funding round by clicking here.

  • Perspectives

    • Overseas Outsourcing Can Create a World of Problems

      The internet broke down geographic barriers for businesses, making it possible to find lower-cost suppliers around the world. But if companies lack the knowledge and skills to manage those suppliers properly, they may end up spending far more than expected. We’ve worked with companies all over the globe to help our clients meet their advertising and marketing objectives while protecting their budgets. While most of those working relationships have been positive, we’ve had...
    More

Events



  • Most Popular Stories

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.

    • 120WaterAudit Lands $7M in Funding

      Zionsville-based 120WaterAudit LLC has closed on a $7 million Series A round of funding. The company says it plans to use the funding to enhance its digital water cloud platform and expand sales and marketing efforts. The funding round was led by Indianapolis-based HG Ventures, with participation from Allos Ventures in Indy and California-based Greenhouse Capital Partners. 120WaterAudit's platform includes software and testing kits to help government agencies, public...

    • ‘Potential’ Fueling Downtown Makeover in Fort Wayne

      As Fort Wayne prepares to christen its latest big downtown project, Mayor Tom Henry says there are no signs of transformational development slowing down in the state’s second largest city. The Landing, a $34 million downtown redevelopment project, is expected to officially open soon, one of an estimated 14 projects that Henry says can help Fort Wayne become a destination city. Since the opening of Parkview Field more than a decade ago, Henry says momentum has...

    • Photo courtesy of Bristol Parks

      Startup Plans to Add 250 Jobs By 2021

      A metal forming startup is seeking to use a facility in Bristol that has been empty since 2017 for a major manufacturing operation. The Elkhart Truth reports Brinco will invest $52 million in the project and add 250 jobs.

    • New study reveals best place in Indiana for young families

      And the Best Place for Young Families Goes To...

      What do you look for in a community when deciding where to start a family and raise your children? There can be several factors to weigh in making a sound decision. Housing affordability. Unemployment rates. Quality of education. Mortage website Lendingtree.com has released the results of a study pointing to the best places for young families in Indiana.