SAN FRANCISCO — Fluxx, a cloud software company focused on grants management, announced the closing of a $16 million Series B financing led by Canvas Ventures, with participation from Kresge Foundation and Felicis Ventures. The new funding will be used to accelerate its growth and develop new products for the philanthropic community.
Fluxx is used by hundreds of family foundations, community funds, corporate philanthropy arms, and government agencies. Its mission-critical, cloud-based software and flexible data platform serves customers of all sizes — ranging from $1 million to $10 billion in endowments. Some of Fluxx’s customers include Ford Foundation, MacArthur Foundation, and Knight Foundation.
Thousands of grantmaking professionals using Fluxx daily have collected, evaluated, distributed, and tracked more than $12 billion to grant-seekers worldwide. These grant-seekers are using the funds for social programs, investments, and scholarships that impact more than 100 countries.
“Fluxx’s mission is to enable the philanthropic community to do their important work easier, faster, and more collaboratively,” said Paul Hsiao, general partner at Canvas Ventures. “With total giving from foundations and corporations globally exceeding $150 billion in 2016, we see the potential that Fluxx can unlock through their innovative software and search technology. This is impact investing at its best, and we are delighted to be a part of the Fluxx family.”
“We are fusing leading-edge technology with tried and true philanthropy,” said Jason Ricci, co-founder and CEO of Fluxx. “In doing so, we are helping the charitable-giving sector be even more strategic and impactful with their resources. Our platform creates a highly collaborative and transparent cloud-based ecosystem for funders, grant-seekers, partners, and donors. It’s extremely rewarding to be empowering people who have dedicated their lives to doing good.”