We are excited to announce that we recently invested in San Francisco-based Bright Funds.
Bright Funds helps organizations and their employees change the world through impactful social good programs, and in doing so, makes their businesses more successful. Bright Funds enables employee donors to choose their cause and give to individual non-profits or exclusively available “Funds” comprised of multiple non-profts.
In one platform, Bright Funds brings together the power of research, the reliability of trusted financial services, and the convenience of centralized contributions and company reporting. Te Bright Funds platform can unlock greater generosity and funnel it to the most impactful organizations in the world.
Bright Funds fits well into our Technology for Social Good initiative, as they specialize in generating awareness for non-profit organizations and increasing revenue to support their program activities.
Many of us have certain causes that are dear to us, and we likely support specific organizations serving the cause. Of course many other organizations are serving as well, but how do you learn of them? Bright Funds highlights leading organizations within the cause you care about to provide additional options for financial contribution.
Bright Funds serves enterprise clients such as Box, vmware, and Morningstar, providing large-scale exposure for non-profts. Although enterprise sales have always represented a vast market, the aspect of human-resource targeted sales is growing tremendously.
With regards to donations facilitated through employers, the sky’s the limit. Approximately 60% of Americans donate to non-proft organizations, however, less than 15% do so directly through their employer.
We participated in an equity round of investment that provided the capital necessary to staff up to meet an ongoing sales demand, as well as continue to build out the product to handle more volume. In addition to our involvement with Bright Funds, the company’s founder Ty Walrod has worked with another one of our Technology For Social Good companies: MobileServe.
Both organizations seek to increase capacity of non-proft organizations and are finding areas of overlap that prove beneficial to both companies. For example, they can assist large enterprises to encourage greater personal volunteerism as a part of the corporate social responsibility initiative.