Ithaca, NY-based GiveGab, the developer of a social network for volunteers, has raised $1.5 million in Series A financing. The financing was led by Cayuga Venture Fund, and included participation from New York City-based Great Oaks Venture Capital; Rand Capital SBIC of Buffalo, NY; and Excell Partners of Rochester, NY.
GiveGab, the social network for volunteers, announces it has closed on $1.5 million of Series A funding. The Ithaca-based volunteer management software provider will use the funding to expand the website’s capabilities and business development efforts, including the launch of premium offerings and enhanced volunteer management reporting. The financing was led by Cayuga Venture Fund of Ithaca, NY (www.cvf.biz), and also included New York City-based Great Oaks Venture Capital (www.greatoaksvc.com), Rand Capital SBIC of Buffalo, NY (www.randcapital.com) and Excell Partners of Rochester, NY (www.excellny.com).
Charlie Mulligan, co-founder and CEO of GiveGab states, “Volunteering makes people happy. We are excited that Cayuga Venture Fund, Great Oaks Venture Capital, Rand Capital and Excell Partners have decided to work with us and provide the resources and connections we need to accomplish our mission: More, happy volunteers.”
Volunteering enriches people’s lives as well as the communities in which they live. GiveGab identified that matching volunteers with opportunities, and then administratively tracking their volunteer hours was very difficult. The software was developed to make the process of volunteering fun and easy, while helping to make the lives of volunteer managers easier. GiveGab is utilized by schools, nonprofits, and businesses that encourage people to volunteer in their communities.
“GiveGab has finally figured out how to meet the volunteer tracking, recruitment and profiling needs of both volunteer managers and their volunteers in a creative and fun social media networking platform that already has yielded an impressive following among colleges and universities and non-profit organizations,” said Jennifer Tegan, Partner at Cayuga Venture Fund. “We are excited to see this company grow and reach its full potential with this financing.”
Ben Lin, Managing Partner at Great Oaks Venture Capital states, “What LinkedIn has done for an individual’s professional career, GiveGab can do for their volunteering efforts. We are excited to be part of GiveGab’s success.”
GiveGab, the social network for volunteers, is dedicated to helping volunteers and nonprofit organizations interact in local communities. GiveGab’s goal is to create a fun yet effective online environment that encourages real-world volunteer hours, donations, and social interactions. GiveGab helps volunteers find volunteer opportunities in their local community, log volunteer hours, and create a volunteer resume. Volunteer managers at nonprofits, colleges/universities, businesses and clubs can use it to create and manage events, programs, and opportunities, recruit volunteers, track volunteer hours and report their success.