American charity crowdfunding site CrowdRise bags $23M to fund expansion
Charity fundraising site CrowdRise has secured $23 million in a new venture round to fund its growth campaign and keep up with its rivals, according to a VentureWire report cited by The Wall Street Journal (WSJ). Union Square Ventures was the lead investor in the round, the report said.
Other investors who contributed to the financing include Spark Capital, Index Ventures, CAA Ventures, the RatPac venture fund, United Talent Agency's venture fund, and Bezos Expeditions. The latter is a personal investment firm owned by Jeff Bezos, the report detailed.
Along with growth campaigns, the charitable startup will also begin expanding its platform this week. The changes in the site will allow users to support an not only charities and non-profit groups, but also individuals, through the platform, the report explained.
CrowdRise had previously closed its seed funding round backed by Bezos Expeditions, Eric Schmidt, Specific Media's Chris and Tim Vanderhook, and High Line Venture Partners. Jack Dorsey and Chris Sacca also participated in the seed round, WSJ stated.