CIBC Innovation Banking, an affiliate of Canadian bank CIBC, has provided a $33 million facility to Indianapolis-based Bloomerang for growth and acquisitions. The company, a provider of cloud-based donor management and fundraising software for small and mid-size nonprofits, is backed by JMI Equity.
CIBC Innovation Banking is pleased to announce a growth capital facility for Indianapolis-based Bloomerang, Inc. (“Bloomerang”). Bloomerang plans to use the capital for its recent acquisition of Nashville, TN-based Kindful, Inc. (“Kindful”), and to continue its growth momentum.
Bloomerang, a leading provider of cloud-based donor management and fundraising software for small and mid-size nonprofits, delivers easy-to-use tools that help clients improve donor retention and increase donor engagement. Its recent acquisition of Kindful, a nonprofit software platform known for its third party application integrations and online fundraising tools, enables Bloomerang to deliver and scale a dynamic donor management and fundraising platform that will help nonprofits acquire new donors, increase donor loyalty, improve donor communication and provide comprehensive reporting.
“CIBC Innovation Banking is pleased to help Bloomerang with its acquisition of Kindful and its continued development of solutions to assist non-profit organizations in effectively reaching donors,” said Paul Gibson, Managing Director in CIBC Innovation Banking’s Reston office. “We see the benefits that Bloomerang’s easy-to-use platform provides to customers, and we look forward to continuing to work with the team by providing tailored financing solutions and treasury management services.”
“Bloomerang continues to expand its leadership position in donor management software, particularly with the recent acquisition of Kindful,” said Ross Hendrickson, Chief Executive Officer and Co-Founder of Bloomerang. “We are pleased to work with CIBC Innovation Banking to help power our growth investments.”
In 2020, Bloomerang was named a Leader in Nonprofit CRM software by G2, SoftwareAdvice and Business-Software.com. Bloomerang’s existing investor is JMI Equity.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.
Indianapolis-based Bloomerang is a cloud-based donor management and fundraising platform designed to help nonprofits reach, engage and retain the advocates they depend on to achieve their vision for a better world. For more information about Bloomerang, visit: https://bloomerang.co.