Wellington Financial, a privately-held specialty finance firm, has provided a USD2m venture debt financing for Salsa Labs of Washington, DC.
Salsa provides an integrated toolset for non-profit organisations to grow and engage their supporter base for their respective causes through online fundraising, advocacy and outreach with an easy-to-use, online organising platform.
"More than 2,000 organisations, including political campaigns, non-profit groups and other associations from small two-person organisations to global institutions are using Salsa’s state-of-the-art platform to manage their online supporters in a more effective manner," says Mark Usher, partner of Wellington Financial. "In addition to their software-as-a-service product, they provide the strategic best practices their clients need to be successful. With Salsa’s 98 per cent client satisfaction rating, we are delighted to add them to our portfolio."
Scott Stouffer, chief executive officer of Salsa, says: "Funding from Wellington Financial is a testimony of the tremendous market opportunity, our unique position within the market and the success we’ve had supporting our clients. With their support, we will continue to develop and enhance our platform’s existing capabilities to help non-profits and political organisations of all sizes ignite action and fuel change for a better world."
Salsa is backed by venture capital firm Edison Ventures, and is the fifth Edison-backed company to use Wellington Financial for growth capital.
