EverTrue Expands, Raises $8M More for Alumni Donor Tools

Perhaps it’s no surprise that a tech company that’s all about alumni fundraising knows how to fundraise itself.

Boston startup EverTrue has closed an $8 million Series B financing round led by previous investor Bain Capital Ventures, with some of the money coming from Silicon Valley Bank. The 40-person company has raised a total of $14.5 million since its founding in 2010.

EverTrue makes software that helps universities, prep schools, and nonprofits find potential donors and communicate with them through social and mobile channels. The company’s customers include Boston University, Brown University, Colgate University, and Oregon State.

EverTrue is led by CEO and founder Brent Grinna, who was part of the 2011 Techstars Boston accelerator class that also included Hardi Meybaum (GrabCAD), Sravish Sridhar (Kinvey), Dave Bisceglia (The Tap Lab), and Matt Barba (Placester), among other up-and-comers. EverTrue also went through the MassChallenge startup program.

Meanwhile, Silicon Valley Bank is starting to show up in more startup investment deals. The financial institution invested in an equity round for Boston-based Startup Institute last month, as banks and financial services firms are trying to get closer to tech startups and entrepreneurs.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and Editor of Xconomy Boston. E-mail him at gthuang [at] xconomy.com. Follow @gthuang

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