Indianapolis-based tech company Boardable has completed a $1 million seed round of funding. The company, which has developed software aimed at increasing board member engagement for nonprofits, says it plans to invest the funding in product, marketing and sales, as well as talent as it seeks to double its full-time workforce by the end of the year.

The funding came from High Alpha Capital in Indianapolis. As a result, High Alpha partner Eric Tobias will join the Boardable Board of Directors. Jeb Banner, chief executive officer of Boardable, says the collaboration with High Alpha Capital is a natural fit and will be transformative for his company.

"I have a long history of working with members of the High Alpha team on several projects, so I know and trust them. Boardable had originally planned to do a smaller bridge round, but it didn’t take long for us to see High Alpha Capital’s value as a strategic asset,” Banner said. "Nonprofits have been overlooked from a SaaS perspective for a long time, and now we’re starting to see venture capital coming in, and that’s exciting news for not just Boardable, but for the entire nonprofit tech space."

Tobias says this is the first investment into the nonprofit tech space for High Alpha Capital. Boardable was founded in 2017 and previously raised $1.35 million through an early-stage friends and family investment round.