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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowBloomerang, a fast-growing Indianapolis firm that offers software for not-for-profit organizations, has acquired Lakeland, Florida-based software firm Qgiv.
The deal closed in December. Bloomerang declined to reveal financial terms. The combined company has about 500 employees, including the 100-plus Qgiv employees who joined the company via acquisition.
Bloomerang operates as a hybrid company, and about 15% of its employees live in the Indianapolis area, said Dennis Fois, Bloomerang’s Carmel, California-based CEO.
Fois said everyone from Qgiv remains with the company—including Qgiv’s co-founder and CEO, Todd Baylis, who now serves as the combined company’s chief fundraising officer.
“All the employees are retained and part of Bloomerang, and we’re hiring more. This is just a growth play,” Fois said of the Qgiv acquisition. “There’s no rationalization or reduction in force on either side.”
Fois said Bloomerang added 123 employees last year and expects to add even more this year as the company continues to grow.
A couple of different factors contributed to Bloomerang’s growth last year, Fois said. The company attracted thousands of new customers—more than it had anticipated. The company also added volunteer management capabilities to its platform last year, and the offering proved to be very popular with customers.
Bloomerang offers a software platform that helps small to medium-sized not-for-profit organizations manage their relationships with both donors and volunteers. Not-for-profits can, for instance, use Bloomerang to do things like build donor databases, gather and analyze donor data, and recruit, schedule and communicate with volunteers.
Qgiv built its reputation on its online fundraising platform, which enables not-for-profits to do everything from online giving and event registration to text-based fundraising, peer-to-peer fundraising and tools for hosting in-person and online events.
The Qgiv acquisition now gives Bloomerang a much wider array of fundraising tools it can offer customers, Fois said. And in the not-for-profit world, he said, there’s a strong overlap between volunteers and donors. “The thing to understand about volunteer management is that it’s probably the single best way to find new donors,” he said.
The combined company has more than 23,000 customers and expects to process more than $1 billion worth of donations on behalf of those customers this year, Fois said.
Bloomerang, which launched in 2012, has completed other acquisitions in recent years.
In January 2021, the company announced its acquisition of Tennessee-based Kindful. That acquisition brought Bloomerang’s combined head count to 200 employees.
Then, last March, Bloomerang acquired Ottawa, Ontario-based InitLive Inc.
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