Harvard education spin-out EverTrue raises $5.25m in a series A led by Bain Capital Ventures.
EverTrue, an education fundraising platform founded at the Harvard Business School, has announced that it has raised $5.25m in a series A led by Bain Capital’s venture unit. The round was joined by previous investors, including Boston Seed Capital and a number of individual investors. The round adds to $1.3m raised in 2011, bringing the Boston-based’s total venture backing to $6.55m. EverTrue provides an education online platform and app that facilitates donations for any given institution through an alumni driven social network built on LinkedIn’s API. It is a graduate of TechStars Boston, having subsequently attracted investment from the incubator’s chief executive David Cohen, and is a winner of startup competitions MassChallenge and the UK’s Go for Gold UK. The firm has said that latest funds will be used for further product development, and an expansion in headcount. Brent Grinna, EverTrue’s chief executive and founder, said: “Tracking alumni and donors is a key pain point experienced in education and other non-profit verticals. Without accurate data, it’s challenging for schools to support both career networking and effective fundraising.