Charlotte-based Frontier Capital leads $6.5M round for Maryland software firm
Frontier Capital is the lead investor in a $6.5 million funding round for Social Solutions.
IDEA Fund Partners, the for-profit venture operation of the NC IDEA economic development group, also participated. The investment syndicate included WWC Capital Group.
The software company, which is based in Baltimore, provides performance management solutions for nonprofits. Its top product is called Efforts-to-Outcomes. The company launched in 2000 and has more than 2,500 users,
Social Solutions plans to expand its sales, marketing and product enhancements with the additional funding.
“We have been very impressed with the evolution of Social Solutions as it has brought performance management to the forefront of effective social giving,” said Andrew Lindner, managing partner of Frontier Capital. “Now more than ever, both funders and nonprofit organizations are demanding the increased effectiveness facilitated by ETO software. We are pleased to partner with Social Solutions in accelerating the company’s growth trajectory.”
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