WASHINGTON, Aug. 1, 2011 /PRNewswire/ -- Salsa Labs, the leading provider of online organizing and fundraising solutions to Nonprofits, Associations, and Political Campaigns, today announced a $5 million investment from Edison Ventures, a leading investment firm specializing in growth equity financing for information technology companies.
"We're thrilled to have Edison Ventures as a partner to bring sophisticated organizing technologies to more organizations and campaigns, and to expand into new markets," says Chris Lundberg, Chief Executive Organizer of Salsa. "Professional Organizers and marketers have understood for years how critical it is to tightly integrate your communications, website, and CRM to really engage people -- it's exciting to get that knowledge and practice out there."
Salsa Labs bootstrapped for several years with no previous investment into a profitable 50-person operation with solid year over year growth. The firm will use the funds to accelerate growth in existing markets, enter new markets, and better serve their existing 2,000+ clients. The financing will also support Salsa's training and community support programs, the development of 3rd party applications in the Salsa Market, and their product development strategy, which will expand capabilities for donor management, social CRM, and mobile applications.
"Salsa Labs presents an opportunity for Edison to invest in a community-minded SaaS company that has experienced compelling growth in a large and underserved market with an impressive feature-rich, affordable product suite," said Sever Totia, Principal at Edison Ventures who will join the company's board of directors. "With our investment, we feel that Salsa Labs can grow even faster and bring a complete online organizing solution to more groups."
Salsa Labs is headquartered in Washington, DC, and has an office in Austin, Texas. To support their rapid growth, they will be creating over 100 jobs in the coming year in these communities. "We are fortunate to be in the position to help our local economies with excellent job opportunities at a vibrant technology company," said April Pedersen, Co-Founder of Salsa Labs. "The opportunity to serve clients working with Salsa to change the world is just icing on the cake."
About Salsa Labs
Salsa Labs is the creator of the leading online platform for organizing and engaging people. In one easy-to-use, integrated, and flexible platform, groups of all sizes can manage their supporters, communicate, fundraise, advocate, host events, and much more. Organizations can create their own unique recipe for organizing by choosing from dozens of packages as well as by plugging in other applications produced by 3rd parties in the Salsa Market. Salsa's software and services suite currently supports over 2,000 user groups' relationships with over 50 million supporters, members, donors, activists, and fans all around the world. www.salsalabs.com
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison's investment professionals are based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH. Industry specialties include financial technology, healthcare IT, interactive marketing and ecommerce. Edison's successes include Axent, Cambridgesoft, Gain Capital, Liberty Tax, Marcam, Mathsoft, Virtual Edge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $700 million and actively making new investments. www.edisonventures.com
SOURCE Salsa Labs