Check out our press release hub, powered by Business Wire. It's a one stop shop for industry announcements to help you stay on top of the latest technology and investment trends. Get the scoop here.
BERKELEY, Calif.–(BUSINESS WIRE)–May 1, 2014–
roundCorner, Inc. a leading provider of cloud-based nonprofit fundraising and donor engagement solutions backed by salesforce.com, today announced it has entered into a definitive agreement to acquire FoundationConnect, the industry-leading cloud Grants Management Application for nonprofits from NPower. The transaction is to be completed during the second quarter, subject to customary closing conditions.
Comments on the News
“FoundationConnect is integral to our Grant Making – it is used by more than 500 of our employees and all of our senior management team. The underlying Salesforce platform is allowing us to replace many of our homegrown systems easily and with already built-in familiarity. We are delighted to see FoundationConnect get such a great home with roundCorner and look forward to the strategic direction that roundCorner will take this product,” said Mary Cadigan, CIO of Open Society Foundations.
“We are very excited about roundCorner’s acquisition of FoundationConnect,” said Suzanne DiBianca, President, Salesforce.com Foundation. “The Salesforce.com Foundation will be there every step of the way to help ensure the philanthropic community can transform using our cloud, social, mobile and connected technologies to deliver even more impact to improve communities around the world.”
FoundationConnect is a 100% cloud application that streamlines the grant making life cycle. It provides all the tools Foundations need to source and manage philanthropic giving, scholarship programs & similar application-based processes. FoundationConnect helps clients efficiently deliver over $1.4 Billion in grants annually. More than 50 Foundations, with over $12.6 Billion in assets under management, now rely on FoundationConnect, including Open Society Foundations, the world’s second largest foundation.
The acquisition will extend roundCorner’s leading role in supporting the nonprofit community with innovative, cloud-based solutions on the Salesforce platform alongside their flagship product roundCause.
“With FoundationConnect, roundCorner is gaining a proven market leader in the Grants Management space where it has been successfully deployed in more than 50 top foundations,” said Dan Lammot, President of roundCorner, Inc. “This is a huge opportunity. Not only will this acquisition accelerate our growth, it will enable foundations to improve their operations by more effectively managing the impact of their philanthropic investments.”
In a 2011 national study of online grantmaking systems, FoundationConnect was recognized for offering excellent capabilities in ease of use, customizability, budgeting, reporting, training and support. NPower CEO Stephanie Cuskley commented, “After conducting a thorough review and engaging in discussions with a variety of key stakeholders, the NPower board has placed its confidence in roundCorner. Before starting this process, I could not have envisioned a better outcome for our foundation clients. roundCorner has the expertise and capability to take FoundationConnect to the next level.”
roundCorner’s Salesforce.com based solutions now span the entire funding cycle in the nonprofit industry – from philanthropy to impact. roundCorner’s acquisition of FoundationConnect enriches the go to market partnership with Salesforce.com aimed at offering a suite of nonprofit solutions that enable nonprofits to fully leverage technology for social impact.
roundCorner is a salesforce.com solution provider offering products and services that help nonprofits unlock the value of their greatest asset – a lifetime relationship with their constituents. To accelerate nonprofit success with Salesforce, we draw upon our years of delivering successful, enterprise solutions, deep industry experience, and our market-leading fundraising and donor engagement application roundCause. For more information, please visit the company website at www.roundCorner.com.
Connect with roundCorner:
NPower mobilizes the tech community and provides individuals, nonprofits and schools access and opportunity to build tech skills and achieve their potential. We pursue this mission through two signature programs:
Technology Service Corps builds brighter futures for underserved young adults and veterans through free technology and professional skills training. The program includes technical classes, mentoring from business leaders, internships and career development workshops at leading corporations and nonprofits, industry-recognized certifications as well as employment and alumni services. More than 80% of our alumni are employed or pursuing higher education within one year of graduation.
The Community Corps is a skills-based volunteering program connecting technology professionals with high impact nonprofits and innovative education partners. Our tech volunteers enable schools and nonprofits across the country to use technology more effectively and inspire the next generation to pursue careers in science, technology, engineering and math (STEM).
Kevin Phelan, 617-515-8011
VentureBeat’s VB Insight team is studying marketing analytics...
Chime in here, and we’ll share the results.