New strategic investor joins Boardable to help fuel growth of the nonprofit tech platform
INDIANAPOLIS–(BUSINESS WIRE)–May 7, 2019–
Boardable, an online board management platform, announces today the completion of a $1 million seed round from High Alpha Capital. To support its mission of increasing board member engagement for nonprofits, Boardable plans to invest the funding into talent, product, marketing, and sales, aiming to double full-time employees at the company by the end of 2019. With High Alpha Capital’s new partnership through the investment, Eric Tobias, partner at High Alpha, will join Boardable’s board of directors.
“The collaboration between Boardable and High Alpha Capital is a natural fit. I have a long history of working with members of the High Alpha team on several projects, so I know and trust them. Boardable had originally planned to do a smaller bridge round, but it didn’t take long for us to see High Alpha Capital’s value as a strategic asset,” said Jeb Banner, CEO of Boardable. “Nonprofits have been overlooked from a SaaS perspective for a long time, and now we’re starting to see venture capital coming in, and that’s exciting news for not just Boardable, but for the entire nonprofit tech space. We believe High Alpha Capital’s involvement will be transformative, and we look forward to having Eric join our board and help us accelerate.”
“Boardable is an essential tool for nonprofits looking to better engage their board members. High Alpha Capital is excited to be partnering with Jeb and the Boardable team and to be making our first investment in the nonprofit tech space,” says Tobias. “The transfer of wealth in the U.S. over the next 20 to 40 years will be significant, with most experts estimating that $50 to $60 trillion will change hands. We believe a significant portion of this transfer will make its way to nonprofits, making them even bigger operations than they are today and encouraging them to make increased investments in technology. We believe Boardable is well positioned to capture on this trend.”
Founded in 2017, Boardable is a purpose-driven company that serves those who serve their communities. Its software enables nonprofits to create healthy, effective boards. The company currently has more than 350 customers in more than 20 countries and eight full-time employees based in Indianapolis. Boardable previously raised $1.35 million through an early-stage friends and family investment round backed by many Indianapolis-area angel investors.
Boardable is an online board management portal that centralizes communication, document storage, meeting planning, and everything involved with running a board of directors. Founded in 2017 by nonprofit leaders and founders, Boardable has a mission to improve board engagement for nonprofits. Boardable is based in Indianapolis, Indiana. Learn more at www.boardable.com.
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