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Amicus enables non-profits to leverage the social networks of their supporters to raise more money.
Last year, non-profits in the US spent $60 billion in fundraising costs to raise $300 billion. The model for fundraising has not changed in the past 30 years. It still functions around cold calls and paper mail, which is expensive and difficult to administer.
Amicus strives to streamline and optimize non-profit fundraising efforts by making use of the power of social media.
“Friends referring friends is the winning formula in the age of social,” said founder Seth Bannon (pictured). “Amicus is bringing that model to the non-profit fundraising market. The non-profit market is the perfect place for this model, because non-profit advocates are zealous.”
The company is already profitable, with monthly recurring revenues of $60,ooo. It has grown at 80% month over month for the past four months.
As Bannon put it, the team is doing social good and making money in the process.
VB’s research team is studying mobile user acquisition...
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