Toronto-based specialty finance firm Wellington Financial LP has provided US$2 million in venture debt financing to Salsa Labs Inc., a developer of an online platform for non-profit fundraising, advocacy and outreach. Washington, D.C.-based Salsa Labs has been backed by U.S. venture firm Edison Ventures since 2011. In April, Wellington closed its fourth growth capital and venture debt partnership, Wellington Financial Fund IV, at $200 million.
Wellington Financial Provides $2 Million Growth Capital to Salsa Labs, Inc.
WASHINGTON, DC and TORONTO, Aug. 14, 2013 /CNW/ – Wellington Financial LP, a privately-held specialty finance firm, today announced a US$2 million venture debt financing for Salsa Labs (Salsa) of Washington, DC. Salsa provides an integrated toolset for nonprofit organizations to grow and engage their supporter base for their respective causes through online fundraising, advocacy and outreach with an easy-to-use, online organizing platform.
“More than 2,000 organizations, including political campaigns, nonprofit groups and other associations from small two-person organizations to global institutions are using Salsa’s state-of-the-art platform to manage their online supporters in a more effective manner,” said Mark Usher, Partner of Wellington Financial. “In addition to their software-as-a-service product, they provide the strategic best practices their clients need to be successful. With Salsa’s 98 percent client satisfaction rating, we are delighted to add them to our portfolio.”
Scott Stouffer, Chief Executive Officer of Salsa said, “Funding from Wellington Financial is a testimony of the tremendous market opportunity, our unique position within the market and the success we’ve had supporting our clients. With their support, we will continue to develop and enhance our platform’s existing capabilities to help nonprofits and political organizations of all sizes ignite action and fuel change for a better world.”
Salsa is backed by leading venture capital firm Edison Ventures, and is the fifth Edison-backed company to use Wellington Financial for growth capital.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in San Francisco, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
About Salsa Labs
Salsa Labs (Salsa) helps nonprofits and political campaigns ignite action and fuel change around the world by growing and engaging a base of support online. With Salsa, groups of all sizes can easily organize their supporters and chapters, fundraise, advocate, communicate through email and social media, host events and measure results. Salsa provides more than technology; it offers strategic best practices, training, highly rated support and a strong online community, so its clients can focus their energy on their mission. The company currently empowers more than 2,000 organizations and their more than 75 million donors, members, activists and fans across the globe.
SOURCE Wellington Financial LP
For further information:
Wellington Financial LP
Tel: (416) 682-6007
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