INDIANAPOLIS--(BUSINESS WIRE)--CIBC Innovation Banking is pleased to announce the lead arrangement of a $60 million syndicated debt financing commitment for Indianapolis-based Bloomerang, LLC (Bloomerang), a complete donor relationship management solution for thousands of small and medium-sized nonprofits. The additional capital further accelerates the company's ability to deliver the nonprofit relationship management platform of the future.
“Bloomerang provides technology that supports core operations of non-profits looking to expand their initiatives,” said Paul Gibson, Managing Director, CIBC Innovation Banking. “Our main goal with expanding the syndicate was to solve financing needs not just for the near term, but long-term as well.”
Bloomerang helps nonprofits acquire new donors, improve donor retention and increase donor engagement through its simple-to-use donor management and fundraising platform. The platform is designed to help small and mid-sized nonprofits become stable and thriving organizations.
"Bloomerang is in an exciting stage of accelerating growth and we’re thrilled to be able to help more nonprofits make a bigger impact,” said Steve Isom, CFO, Bloomerang. “Our continued relationship with CIBC Innovation Banking enables us to deliver on our promise to help nonprofits thrive. The ability to secure this financing in the current market conditions is a testament to both Bloomerang’s momentum and CIBC Innovation Banking’s confidence in our business."
“We believe that the syndicate has the ability to scale even further as the company continues to grow. We look forward to continuing to work together for years to come,” added Walt Sparks, Executive Director, CIBC Innovation Banking.
Bloomerang’s existing investor is JMI Equity.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About Bloomerang
Indianapolis-based Bloomerang is the complete donor relationship management solution that helps thousands of small and medium-sized nonprofits deliver a better giving experience and create stable, thriving organizations. Combining robust, simple-to-use technology with people-powered support and training, Bloomerang empowers nonprofits to work efficiently, improve their donor relationships and grow their donor bases. With Bloomerang, nonprofit professionals love their work and have another teammate in the cause.
Bloomerang is a trusted and acclaimed partner for growing nonprofits. For more information about Bloomerang and to see why real fundraisers recommend the solution to their peers, visit: https://bloomerang.com.