Dateline: Santa Monica
We announced our second deal in less than a week. This time its a US$2 million venture debt financing for Salsa Labs of Washington, DC.
Salsa provides an integrated toolset for nonprofit organizations to grow and engage their supporter base for their respective causes through online fundraising, advocacy and outreach with an easy-to-use, online organizing platform. More than 2,000 organizations, including political campaigns, nonprofit groups and other associations from small two-person organizations to global institutions are using Salsa’s state-of-the-art platform to manage their online supporters in a more effective manner. The 98 percent client satisfaction rating is just one of the reasons why the deal worked for us.
Salsa has received venture capital from our friends at Edison Ventures. When you tally them all up, this is the 5th different Edison-backed company to use our firm for growth capital over the years. Each one gets assessed individually, from the vantage point of both the company and our team. But it is a testament to the utility of our non-amortizing True Growth Capital for companies that are looking to truly extend their runway.
The Mid-Atlantic region has also been vibrant for us of late, and we look forward to seeing our confreres at the Mid-Atlantic Venture Association’s Fall kickoff on Sept. 11th in Washington, D.C.