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CIBC Innovation Banking Announces $33MM Financing Solution for Bloomerang

February 11, 2021, 06:00 AM
Filed Under: Technology

CIBC Innovation Banking provided a growth capital facility for Indianapolis-based Bloomerang, Inc.  Bloomerang plans to use the capital for its recent acquisition of Nashville, TN-based Kindful, Inc., 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 Bloomerang’s existing investor is JMI Equity.

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