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Total amount raised
$55.4M
Latest funding date
2021-04-14
Location
Fluxx has successfully navigated three funding rounds, attracting investments from notable backers such as Felicis Ventures and Kresge Foundation. The company has also made strategic acquisitions, including Grantseeker, to enhance its offerings.
What Is Fluxx?
Fluxx is a San Francisco-based company specializing in cloud-based grants management software. The company operates in industries such as Big Data, Enterprise Applications, and SaaS, among others. With an employee count ranging from 51 to 100, Fluxx aims to streamline grantmaking processes for foundations, government entities, and nonprofits.
Founded with the mission to enhance data-driven decision-making, Fluxx has been acquired by Metamorph Partners and ABS Capital Partners. The company focuses on reducing administrative tasks and improving grantee experiences, offering tools for better collaboration and transparency in grant management.
How Much Funding Has Fluxx Raised?
- Series A
- Amount Raised: USD 10,200,000
- Date: August 2015
- Lead Investors: Felicis Ventures
- Other Participants: Kresge Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and expand market reach in the philanthropic sector.
- Series B
- Amount Raised: USD 16,000,000
- Date: March 2017
- Lead Investors: Canvas Ventures
- Other Participants: Kresge Foundation, Felicis Ventures, Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and develop new products for the philanthropic community.
- Series Unknown (Venture Round)
- Amount Raised: USD 29,151,376
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological capabilities ahead of the company's acquisition.
Total Amount Raised: At least USD 55,351,376 based on disclosed funding rounds. Current Valuation: Not publicly disclosed.
Key Investors
- Felicis Ventures
- Details: Felicis Ventures is a boutique venture capital firm founded in 2006. The firm invests in companies reinventing core markets and creating frontier technologies. Felicis led Fluxx's Series A round in August 2015.
- Investment Focus Areas: Core markets, frontier technologies.
- Notable Investments: Fitbit, Shopify, Meraki.
- Canvas Ventures
- Details: Canvas Ventures is an early-stage venture capital firm based in Silicon Valley. It led Fluxx's Series B round in March 2017. The firm was named a "Top VC Firm to Watch"by the 2015 Forbes Midas List.
- Investment Focus Areas: Marketplaces, AI/machine learning, digital health, fintech, new enterprise.
- Notable Investments: FutureAdvisor, CrowdFlower, Eden.
- Kresge Foundation
- Details: The Kresge Foundation is a private, national foundation with over $3.6 billion in assets. It participated in both Fluxx's Series A and Series B rounds as a strategic investor.
- Investment Focus Areas: Arts and culture, education, environment, health, human services, community development.
- Notable Investments: Approved 370 grants totaling $125.2 million and nine social investment commitments totaling $20.3 million in 2015.
- Metamorph Partners & ABS Capital Partners
- Details: Metamorph Partners is an operator-led private equity firm specializing in B2B SaaS businesses. ABS Capital Partners is a growth equity firm investing in software and tech-enabled services. Together, they led the acquisition of Fluxx in October 2021.
- Investment Focus Areas: B2B SaaS, software, tech-enabled services.
What's Next for Fluxx?
Fluxx stands at the cusp of significant growth opportunities, driven by the increasing demand for cloud-based solutions in the philanthropic sector. With a customer base that includes family foundations, community funds, and government agencies, the potential for expansion is vast. The company aims to develop new products and enhance its platform to meet the evolving needs of its users.
Future fundraising efforts are likely to attract investors interested in impact investing and technology-driven philanthropy. As Fluxx continues to innovate, additional funding rounds could support further growth and product development. However, the company may face challenges such as competition from other grants management software providers and the need to ensure data security and privacy.
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