RALEIGH – Even in the pandemic, MemberHub is raising capital.
The Raleigh-based startup, which sells a SaaS-cloud software communications system to parent-teacher groups, confirmed this week it had recently raised $3.3 million in an oversubscribed round.
VentureSouth led the round with AIM Group, Miami Angels, TIE Atlanta and a number of new individuals and current investors from the Series Seed round in 2018.
“We opened this round in late 2019 as our investors were bullish on our traction and our growth into 13,000 schools,” its founder Will Bowen wrote in an email. “We kept the round open and have had a number of investors recently increase their stakes, given the growing demand for K-12 parent groups to get online.”
The company is now focusing on executing its business plan. Bowen said they plan on investing to build out its new software with additional product features and filling out its sales and customer success teams.
Before pandemic, MemberHub was gaining traction for its platform. Its aim: to help some 311,000 nonprofit parent groups across the country with things like managing their activities, organizing volunteers, and raising money.
But in this new reality, Bowen said, the need is even greater.
PTAs can immediately raise money for families in need, or replace their spring events with seven different types of platform virtual fundraisers. They can also use MemberHub to stay closely engaged with their communities using targeted emails and texts.
“We are so excited to help them,” he said, estimating one out of 10 schools in the US already has access to MemberHub – and that’s growing.
Bowen said they’re hiring to keep up with the growth, mostly new roles in software development and customer success.
Original Article Source: WRAL TechWire