Benevity is a Calgary-based company that provides charitable donation-management, volunteer-management and grant-management platforms. Benevity is one of Western Canada's largest startups.[2] Its customers include Nike, Coca-Cola, Microsoft, Google, and Apple,[4] and about 250 of the Fortune 1000 as of 2017[update].[5]
 | |
| Company type | Privately held company |
|---|---|
| Industry | Computer software, Cloud software, Software as a service |
| Founded | 2008 |
| Founder | Bryan de Lottinville |
| Headquarters | , |
Area served | Worldwide |
Key people |
|
| Revenue | $100 million (2019)[2] |
| Owners | Hg, The Rise Fund, Generation Investment Management, JMI Equity, General Atlantic |
Number of employees | ~650[3] (2019) |
| Website | benevity |
The firm's products support companies in managing and tracking their employees' charitable giving, promoting charitable giving and volunteering, while reducing the costs of companies processing donations themselves.[6]
History
editBenevity was founded in 2008 by Bryan de Lottinville, who previously worked as COO of iStockphoto (sold to Getty Images in 2006), with a team of four software developers.[4] In 2010, it became one of only 15 certified B Corporations in Canada, and one of the first in Alberta, signifying its commitment to corporate social responsibility.[7]
In 2016, Benevity was the third-fastest growing startup in Canada as ranked by Deloitte, with over 5,800% revenue growth.[8] In 2017, Benevity ranked 10th with 5,411% revenue growth.[8]
In October 2019, Benevity raised $40 million in Series C funding from existing investors JMI Equity and General Atlantic, which valued the company at near US$400 million market cap.[2]
In December 2020, Benevity achieved unicorn status when Hg Capital purchased a majority stake in the company for US$1.1 billion.[9]
Headquarters
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When Benevity was founded in 2008, the company was based in a small office above a shawarma shop.[2] In 2017, Benevity moved into its fifth and largest headquarters, the Meredith Block office building in Bridgeland, adjacent to downtown Calgary.[10][11]
As of 2021[update], Benevity also has offices in Victoria, BC, Toronto, ON, San Mateo, California, Geneva, Switzerland.[11] and Barcelona, Spain.[11]
References
edit- ^ "Kelly Schmitt, President and CFO, succeeds Bryan de Lottinville as CEO". January 19, 2021.
- ^ a b c d Silcoff, Sean (October 22, 2019). "'World class' Calgary startup Benevity raises $40-million to finance growth plan". The Globe and Mail. Retrieved February 15, 2020.
- ^ Varcoe, Chris (December 20, 2019). "Varcoe: 'It's a little bit of a comeback story' as modest economic recovery expected in 2020". Calgary Herald. Retrieved February 15, 2020.
- ^ a b Healing, Dan (May 6, 2018). "New York partner powers software firm's drive to make charity more efficient". The National Post. Canadian Press. Retrieved February 15, 2020.
- ^ McGregor, Jena (September 14, 2017). "U.S. workers have been giving a lot more money to the ACLU". Washington Post. Retrieved February 19, 2020.
- ^ Parker, David (June 4, 2015). "Benevity brings more meaning to companies that care". Calgary Herald. Retrieved February 15, 2020.
- ^ "Benevity Becomes a Certified B Corporation" (Press release). Benevity. June 8, 2010. Retrieved February 15, 2020.
- ^ a b "Technology Fast 50™ winners" (PDF). Technology Fast 50 2018 Canada. Deloitte. 2018. Retrieved February 15, 2020.
- ^ Kost, Hannah. "Calgary startup becomes corporate 'unicorn' with deal worth $1.1B US". Archived from the original on December 8, 2020.
- ^ Chatha, Aaron (November 10, 2017). "Startup success: Calgary company Benevity grows into new location". Startup Calgary. Retrieved February 15, 2020.
- ^ a b c Willerton, Alana (May 23, 2018). "Inside Benevity's Dog-Friendly, Mural-Filled Office in Bridgeland". Calgary: Avenue Magazine. Retrieved February 15, 2020.