CHARLESTON, S.C., Jan. 2, 2019 /PRNewswire/ -- Blackbaud, Inc.
(NASDAQ: BLKB), the world's leading cloud software company powering
social good, today announced the acquisition of YourCause™, a
market leader in enterprise philanthropy, corporate social
responsibility and employee engagement software.
Blackbaud purchased YourCause for approximately $157 million and the acquisition closed
Wednesday, January 2, 2019.
YourCause stands out as an innovative, flexible and scalable
software provider with a diverse customer portfolio, including
Fortune 500 companies and small businesses alike. Eight million
people can currently engage with YourCause's solution, which
processes more than $245,000 in
donations every business hour and has coordinated, tracked and
rewarded more than 30 million volunteer hours for its
customers.
After implementing YourCause solutions, customers show as high
as triple-digit growth in volunteers, donations, engagement and
more. These reported successes demonstrate a larger trend: overall
ability to attract employees and customers alike by strengthening a
company's reputation.
"We understand that business success today is more than
finances; it's also critical to engage on social issues," said
Mike Gianoni, president and CEO of
Blackbaud. "In a time where 84 percent1 of Americans
believe businesses shoulder a responsibility to bring social
change, providing those businesses with the right tools not only
helps attract and retain customers and employees, but it helps to
build a better world."
The newly combined footprint in corporate social responsibility
and employee engagement positions Blackbaud as the industry leader
in providing solutions to both nonprofit organizations and
for-profit companies committed to social issues.
"Together, we have a unique opportunity to innovate for the
social good space at a larger scale and with greater velocity,"
said Kevin McDearis, chief products
officer at Blackbaud. "Combining YourCause's comprehensive
solutions for maximizing global social impact with Blackbaud's
unparalleled leadership in delivering cloud solutions for social
good will enable companies around the world to create a culture
that engages and inspires employees and customers, while driving
business success and powering measurable outcomes."
YourCause's Plano, Texas-based
team of 155 employees will join Blackbaud. "The inspiration for
YourCause began in 2007 with the story of a boy in war-torn
Uganda who had suffered
unimaginable tragedy, my desire to help, and my realization that
the tools to connect individuals like myself to the causes and
organizations needing support across the globe were lacking,"
YourCause CEO Matthew Combs said.
"Joining Blackbaud, the leader in the social good software space,
will enable us to connect enterprises, individuals, and nonprofits
to more efficiently support social causes of every size, anywhere
in the world."
In the near term, YourCause customers will benefit from
Blackbaud's longstanding connections to the nonprofit community and
deep investments in research and development to accelerate
innovation of the YourCause solutions they use today. Blackbaud
customers will benefit from a marked expansion and acceleration of
workplace giving and volunteering while building a source of new
donors, volunteers and advocates. In the future, Blackbaud is eager
to combine YourCause's product vision with its own, align
YourCause's capabilities to Blackbaud's technical standards, and
introduce expanded innovation to the market.
YourCause is headquartered in Plano,
Texas. Blackbaud is headquartered in Charleston, South Carolina, with operations
around the globe. For more information, visit
www.Blackbaud.com/Better-Together.
Click to Tweet: Better together: @Blackbaud acquires
market-leading corporate social responsibility provider @YourCause
https://blkb.co/bettertogether
1Global Strategy Group's 'Business & Politics: Do
They Mix?' report
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the
world's leading cloud software company powering social good.
Serving the entire social good community—nonprofits, foundations,
companies, education institutions, healthcare organizations and
individual change agents—Blackbaud connects and empowers
organizations to increase their impact through cloud software,
services, expertise, and data intelligence. The Blackbaud portfolio
is tailored to the unique needs of vertical markets, with solutions
for fundraising and CRM, marketing, advocacy, peer-to-peer
fundraising, corporate social responsibility, school management,
ticketing, grantmaking, financial management, payment processing,
and analytics. Serving the industry for more than three decades,
Blackbaud is headquartered in Charleston,
South Carolina and has operations in the United States, Australia, Canada and the United Kingdom. For more information,
visit www.blackbaud.com, or follow us on Twitter,
LinkedIn, and Facebook.
About YourCause
YourCause is a Plano, Texas-based Software as a Service
("SaaS") provider of the CSRconnect Employee Engagement Platform
("CSRconnect") and the GrantsConnect Corporate and Foundation
Grants Management Platform ("GrantsConnect"), an integrated, fully
hosted solution for corporations to more effectively deploy and
manage their employee giving, volunteering, disaster relief, grant
management, fundraising, and overall corporate social
responsibility and philanthropy programs. Ranked on the Inc. 5000
list for four consecutive years, and named a best place to work in
Dallas, YourCause is rapidly
expanding its operations through the ongoing deployment of
end-to-end solutions for enterprises, nonprofits, and do-gooders.
YourCause's Transparent Giving model allows the company to
maximize impact across its Global Good Network benefitting millions
of nonprofits around the world. For more information, visit
www.YourCause.com, or email info@YourCause.com.
Media Inquiries
media@blackbaud.com
Forward-looking Statements
Except for historical
information, all of the statements, expectations, and assumptions
contained in this news release are forward-looking statements that
involve a number of risks and uncertainties. Although Blackbaud
attempts to be accurate in making these forward-looking statements,
it is possible that future circumstances might differ from the
assumptions on which such statements are based. In addition, other
important factors that could cause results to differ materially
include the following: general economic risks; uncertainty
regarding increased business and renewals from existing customers;
continued success in sales growth; management of integration of
acquired companies and other risks associated with acquisitions;
risks associated with successful implementation of multiple
integrated software products; the ability to attract and retain key
personnel; risks related to our dividend policy and share
repurchase program, including potential limitations on our ability
to grow and the possibility that we might discontinue payment of
dividends; risks relating to restrictions imposed by the credit
facility; risks associated with management of growth; lengthy sales
and implementation cycles, particularly in larger organization;
technological changes that make our products and services less
competitive; and the other risk factors set forth from time to time
in the SEC filings for Blackbaud, copies of which are available
free of charge at the SEC's website at www.sec.gov or upon request
from Blackbaud's investor relations department. All Blackbaud
product names appearing herein are trademarks or registered
trademarks of Blackbaud, Inc.
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SOURCE Blackbaud