CIBC Innovation Banking provided a $33 million growth capital facility for Bloomerang, an Indianapolis-based provider of cloud-based donor management and fundraising software for small and midsize nonprofits.
Bloomerang plans to use the capital for its recent acquisition of Nashville, TN-based Kindful and to continue growth.
“CIBC Innovation Banking is pleased to help Bloomerang with its acquisition of Kindful and its continued development of solutions to assist nonprofit organizations in effectively reaching donors,” Paul Gibson, managing director in CIBC Innovation Banking’s Reston, VA, office, said. “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,” Ross Hendrickson, CEO and co-founder of Bloomerang, said. “We are pleased to work with CIBC Innovation Banking to help power our growth investments.”
