Funding marks one of the largest series A rounds for an enterprise software company headed by an African American female founder
NEW ORLEANS--(BUSINESS WIRE)--SaaS platform Resilia announces an $8M series A funding round, led by Mucker Capital and Callais Capital Management with participation by Cultivation Capital, to support the company’s growth and increased demand. In addition to being one of the largest series A rounds of an enterprise software company headed by an African American female founder, it also marks the highest venture capital raise by a female-founded tech company in the state of Louisiana. Resilia serves a two-sided market enabling grantors like cities, private foundations, and corporations to deploy capital quickly and efficiently, while giving nonprofits expanded tools for compliance, management, training, and funding.
Founded by serial entrepreneur Sevetri Wilson in 2016, Resilia’s mission is to harness the power of technology and human connection to bridge gaps between those deploying capital and those on the receiving end, and to democratize innovation for the entire nonprofit industry. The platform’s Nonprofit Formation product (available in all 50 U.S. states) offers a “turbo tax” approach, expediting the process of incorporating and applying for tax exemption. For existing nonprofits, Nonprofit Pro and Plus help organizations stay compliant while increasing capacity through online training, webinars, and other resources geared to productize consultancy services drastically reducing costs to nonprofits. Lastly, Resilia’s Enterprise solution enables grantors to streamline data collection; track budgets; manage grantees, reporting, and evaluation; and provide much-needed capacity support to the projects and organizations that they fund.
“We spotted Resilia early-on, and have been impressed with Sevetri’s leadership and her team’s ability to identify market needs, move quickly, and expand their products to serve the complex needs of grantors and grantees,” said William Hsu, co-founder and partner at Mucker Capital who also joined Resilia’s board.
Added Hal Callais, managing partner and CIO at Callais Capital Management: “Resilia has made a tremendous impact by building an innovative platform for both early-stage non-profits and some of the world’s largest foundations, and we look forward to helping them continue to scale. Their platform is particularly necessary during times of crises to ensure oversight, management, and transparency. We’ve already seen tremendous opportunity in the last several weeks with the coronavirus pandemic and the subsequent deployment of funding specifically earmarked for such relief.”
To date, Resilia’s 2,800+ customers have ranged from small to mid-sized nonprofits, government offices, private foundations, and corporations. Notable customers include Oxfam America, Kellogg, The United Way, and Stem Library Lab. Prior to its Series A round, the company raised $400K pre-seed and $2M seed capital which included investors like Kevin Lin (formerly of Twitch) and Tim Millikin (partner at TPG Capital), Newark Venture Partners, New Orleans StartupFund and others. Follow on investors include Next Wave Ventures, Engage, and The JumpFund.
Headquartered in New Orleans, Louisiana with a second office in New York City, Resilia is a SaaS platform with a human touch. Resilia’s goal is to increase nonprofit capacity and enable enterprises and grantors (cities, private foundations, corporations) that deploy billions of dollars to scale impact.