Halifax-based Fundmetric, which helps non-profits raise more money from philanthropists, has signed up Texas Tech University, one of its largest clients to date.
Fundmetric started seven years ago with a goal of helping charities enhance their engagement with donors. U.S. colleges and universities have become its main market, and the multi-year contract with Texas Tech adds to its list of major universities.
“We always pride ourselves on going with clients that are pushing the boundaries in fund-raising, and Texas Tech is no exception to that,” said Fundmetric Co-Founder and CEO Mark Hobbs in an interview.
As the company has grown, FundMetric has increased the sophistication of the product so it uses machine learning to maximize the results of fundraising campaigns. While identifying donors who are most likely to give to the charity, it also tells these donors how their money has been used and the impact it has had. This encourages donors to repeat and/or increase their donations.
The company’s clients already included Oregon State University, Kent State University and Texas Lutheran University. In April, Fundmetric opened up its Giving Page to charities across Canada to help them raise money during the pandemic.
The giving page is the online page that Fundmetric provides for charities so there’s a place where donors can go to make contributions, and it customizes messaging to resonate with the best donors. It can carry out back-office functions for the charities and is compliant with the Canada Revenue Agency.
The company now has 13 employees and had doubled its revenues this year, said Hobbs. He added that the company has a “strong pipeline” as it is recognized as a leader in generating data on donors and donations, and that recognition has created a lot of interest.