A company that helps nonprofits raise money has landed a $10 million investment and is acquiring Baltimore-based competitor GiveCorps for an undisclosed sum.
Network For Good, a nonprofit based in Washington, D.C., has created a for-profit subsidiary NetworkForGood.com to receive the round of investment, led by Baltimore venture capital firm Camden Partners. Other investors included former AOL executive Steve Case and GiveCorps CEO Vince Talbert, who will become NetworkForGood.com's board chairman.
NetworkForGood.com provides technology and services to help organizations conduct fundraising campaigns via the Internet, mobile devices and social media.
GiveCorps was launched in 2011 by Jamie McDonald, a former investment banker at Deutsche Bank Alex. Brown, and business partner Beth Falcone, with a similar mission of using the Internet to boost charity fundraising.
Talbert co-founded Bill Me Later, the former Timonium e-commerce startup that was sold to eBay for $945 million in 2008.