Donor Management & Online Fundraising — the Giving Layer Every Cause Buys
Entry signal — what decides who wins here
One thing must be trueEntry turns on a single condition that can be named and tested before much is spent. Clear it and this becomes an execution question; fail it and no amount of operating skill helps.
Prove the value in money the buyer already counts. The need is real; what is unproven is that this buyer moves budget for it. That is a priced test with real customers, not a product problem.
Measured, not forecast: the share of US establishments opening in one year that were still active later. It counts good operators and bad ones together, which is exactly why it is the honest answer to “what are the odds”. It is for the whole sector rather than this market, and the ten-year figure comes from an older cohort because no younger one has reached ten years.
This is not a probability of success, and it is not a verdict on you. No survival probability is published per market, and inventing one would be worse than saying so. What the bar reads is how much of the outcome sits inside an operator's control: green means the hurdles are ones a better operator clears, red means the binding constraint is capital, an asset or a permission rather than execution. Someone arriving with an advantage this screen did not assume can win a market shown in red.
Companies named in this market · 20
The binding constraint — willingness to pay
The bottom of this market is priced at zero, and the top is held by a 40-year system of record that earns as much on the money moving through it as on the licence. Blackbaud reported FY2025 revenue of $1,128.4M, of which $384.3M was transactional — about 55% of that donation processing and 20% JustGiving consumer giving — and its Raiser's Edge NXT is the donor CRM a hospital foundation, a university and an arts charity all run [A]. The 2020 ransomware breach did not dislodge it: it paid a $3.0M SEC penalty, $49.5M to 49 states and DC, about $6.8M to California and took an FTC order, and revenue kept growing [A]. Underneath it, private equity has rolled up the mid-market — Apax's Bonterra (EveryAction, Network for Good, Social Solutions, CyberGrants; OneCause added October 2025) and JMI- and Warburg-backed Bloomerang (Kindful 2021, Qgiv 2024, 23,000 clients) [B]. At the small end the price has gone: Zeffy says it is 100% free, funded by optional donor contributions; Givebutter charges 0% platform fee with tips on, 3% with them off; Donorbox has a free plan at 2.95–3.95% [C, vendor]. A new entrant sells against free forms below and against the gift history above. The tax receipt is the hook that keeps both ends sticky — IRS acknowledgements for gifts of $250 or more, quid-pro-quo disclosures above $75, and CRA official receipts with serial and registration numbers [A]. This record is the cross-industry layer; the vertical records sit beside it — nonprofit fundraising at 8132, university advancement at 611310, churches at 8131, associations at 8139 and advocacy groups at 8133. 813 is the navigation anchor: hospital foundations, public media and political campaigns buy the same software from outside it.
Sectors joined: Social Impact
[UNVERIFIED] Sector-to-NAICS mapping is analyst judgment — see data/angel-sector-map.json. Counts are a per-record cross-reference and are not additive across records.
The incumbent
Who owns this market and who is coming for it. Fields a screen never reached say so rather than guessing.
Financials & market size — sourced
Figures that came from a filing, a results release or reputable reporting, each carrying its evidence tier.
Market size, derived
Built from the competitor set upward rather than quoted from a forecast. Published TAMs in these categories are frequently reverse-engineered from each other, so any published figure is checked against the vendor arithmetic rather than trusted on its own.
Disclosed revenue from 1 of 16 named vendors. The market is at least this large.
No vendor has both a disclosed revenue and a published share.
Only a revenue floor is known — the true market is larger by whatever the undisclosed vendors earn.
Competitor set · 16 named · 1 disclose revenue
| Name | Revenue | Share | Note |
|---|---|---|---|
| BlackbaudNASDAQ: BLKBA | $1.1B | — | FY2025, year ended 2025-12-31, Form 10-K filed 2026-02-18. Includes K-12 tuition management (~20% of transactional) and UK revenue of $108.75M; EVERFI was sold on 2024-12-31. Q2 2026 10-Q: H1 revenue $571.737M — Raiser's Edge NXT is the cross-industry donor CRM; ML prospect features used by more than half of RE NXT customers [A, 10-K]. 2020 ransomware breach settled with SEC, 49 AGs + DC, FTC and California |
| BonterraB | not disclosed | — | Private (Apax Funds). No revenue published; 2021 company data says its tools directed $7.4B of giving — Apax combined CyberGrants, EveryAction, Network for Good and Social Solutions as Bonterra; bought OneCause 2025-10-15. Austin, Texas |
| BloomerangB | not disclosed | — | Private; 23,000 client organizations with Qgiv — JMI Equity (2020) and Warburg Pincus (Feb 2024); acquired Kindful (Jan 2021) and Qgiv (closed Dec 2023). Indianapolis |
| Salesforce non-profit (Nonprofit Cloud / Agentforce Nonprofit)NYSE: CRMC | not disclosed | — | Not broken out by Salesforce — The free-licence floor at the top end (Power of Us grant, per the 8132 record); implemented by partners, so the real price is the consultant |
| Neon OneB | not disclosed | — | Private — Formed Sept 2018 when NeonCRM and Rallybound combined, with FTV Capital investing |
| VirtuousB | not disclosed | — | Private — $18M Series B led by Fulcrum Equity Partners (July 2021) [B]; a further $100M from Susquehanna Growth Equity was reported in Sept 2024 but not opened here [C]. givemomentum.com now redirects to virtuous.org/momentum |
| DonorPerfectC | not disclosed | — | Private; made by SofterWare (since 1981) — Long-standing SMB/mid-market donor CRM with US, Canada and Australia sites |
| GoFundMe ProB | not disclosed | — | Private; inside GoFundMe — Classy, acquired by GoFundMe — completed May 2022, terms not disclosed (no price exists to cite); classy.org now redirects to pro.gofundme.com |
| GivebutterB | not disclosed | — | Private — $50M growth round led by BVP Forge and Ardent Venture Partners (Apr 2024). 0% platform fee with optional donor tips; 3% if tips are disabled |
| ZeffyC | not disclosed | — | Private — Montréal. 'The only 100% free fundraising platform' — relies entirely on optional donor contributions. Funding ~US$3–4.5M seed (2021) per aggregators only; not verified |
| DonorboxC | not disclosed | — | Private — Free Standard plan; fees 2.95–3.95% per its pricing page |
| Little Green LightC | not disclosed | — | Private — Low-cost all-in-one donor database for small nonprofits; ownership not verified |
| KeelaB | not disclosed | — | Private; inside Aplos — Canadian donor CRM acquired by Aplos (announced 2024-06-04), which had already bought Raisely |
| Kindsight (iWave)C | not disclosed | — | Private — Wealth screening / prospect research; iWave Information Systems is at 134 Kent Street, Charlottetown, PEI (not Fredericton) per its privacy policy |
| EverTrue (DonorSearch)C | not disclosed | — | Private — Lists DonorSearch, ThankView and Pledgemine as products; DonorSearch acquisition dated Sept 2025 in coverage only |
| Beacon CRMC | not disclosed | — | Private; no disclosed funding — UK charity CRM with Gift Aid; 'over 1,000 charities' per its homepage |
Startups & challengers
Newer and smaller vendors going at the incumbent — funded challengers first. Named, not researched to the depth of the field above; a company with a page here links to it.
| Company | Stage | What it does | Raised |
|---|---|---|---|
| Fundraise Up | Funded challenger | Conversion-optimised online donation checkout for mid-to-large nonprofits; competes with the form layer of every CRM | — |
| Givelify | Funded challenger | Mobile giving app for churches and nonprofits; the faith end of the free-form layer | — |
| Raisely | Funded challenger | Peer-to-peer and campaign fundraising platform (Australia-origin); now part of Aplos alongside Keela | — |
| Dataro | Startup | Predictive AI for nonprofit fundraising that sits on top of an existing donor CRM rather than replacing it | — |
| Funraise | Startup | Long Beach donor CRM + forms; robots.txt bars Claude, so nothing on its site was read | — |
Vendor landscape
Market leaders, the full paid field, and every open-source alternative. Where a free tier exists it is what sets the price floor, so it is analysis rather than an appendix.
FY2025 revenue $1,128.4M; transactional $384.3M [A]
Private; $7.4B of giving directed in 2021 per company data [C]
23,000 client organizations after Qgiv [B]
Paid field · 8 vendors
The system of record; payments attached
PE roll-up
Licence-grant entry, partner-led implementation
Retention-led CRM plus giving
Private
Ex-Classy, inside GoFundMe
Tip- or fee-funded
Data products sold to development offices
Open source · 1 projects — the price floor
Self-hosted constituent CRM with contributions, memberships and events, running inside WordPress, Drupal or Joomla. The free floor for technically staffed nonprofits
The price floor is set by payments, not by open source. Every vendor in this layer can give the software away because a card processor's margin sits on each gift — Blackbaud books it as transactional revenue, Givebutter and Zeffy as optional donor tips. An entrant therefore competes against a price of zero to the charity and is paid only if donors tip or the charity accepts a fee.
Evidence
Evidence. Sourced 2026-10-14 by direct retrieval. Tier A and opened: Blackbaud's FY2025 10-K (filed 2026-02-18) for revenue $1,128.365M, the revenue-type split, the transactional mix (donation processing ~55%, JustGiving ~20%), the May 2020 ransomware 'Security Incident' and its resolution with the SEC, 49 state AGs + DC, the FTC and California; the FY2024 10-K for the FTC Order date (2024-05-20), the California Judgment (2024-06-13) and the $6.8M Q3 2024 payment; the FY2023 10-K for the $3.0M SEC civil penalty (2023-03-09) and the $49.5M multistate payment (2023-10-05); the Q2 2026 10-Q for H1 2026 revenue. IRS pages on written acknowledgments (≥$250) and quid pro quo disclosures (>$75) and CRA pages on official-receipt contents and emailed receipts were opened. Tier B: Apax's Bonterra announcement; Bonterra's OneCause release; Bloomerang's Kindful and Warburg Pincus releases; JMI's Qgiv release and The NonProfit Times (23,000 clients, terms undisclosed); The NonProfit Times on GoFundMe–Classy completion (terms undisclosed); FTV Capital's Neon One release; InBusiness Phoenix on Virtuous's $18M Series B; Pulse 2.0 on Givebutter's $50M. Tier C: vendor pricing pages (Zeffy, Givebutter, Donorbox) and customer counts; Keela's own Aplos announcement. NOT sourced: market size UNVERIFIED — no defensible figure for donor-management or online-fundraising software was found and none is asserted; Blackbaud's revenue is a floor that includes K-12 tuition. Virtuous's $100M (Sept 2024) appears only in TechCrunch, which robots bars; virtuous.org served a bot-verification page. Zeffy's funding total exists only on aggregators. GoFundMe's price for Classy was never disclosed. CanadaHelps' robots.txt returned 403 and funraise.org bars Claude, so neither site was read; CanadaHelps (a registered charity that operates a giving platform) is named only from general knowledge and carries no figures. iWave's HQ is Charlottetown per its own privacy policy, correcting a Fredericton attribution.
Where the industry talks
The associations, forums and events where people in this trade actually talk shop — where to listen before entering, and where the first customers are found. Each link was opened on the date shown.
The fundraisers' professional body; site served a JavaScript bot challenge (403) at check
Professional membership body for UK fundraisers, per its homepage
Hospital and health-system foundation fundraisers — the health buyer of this software
Prospect research and development professionals — the buyers of wealth screening; runs an International Conference and Convene Canada
Bilingual body for planned-giving professionals; runs a National Conference
University and school advancement offices; site served a bot challenge at check
Annual report on US philanthropy; Giving USA 2026 (year 2025) on sale at check
Reddit's robots.txt disallows all crawling, so r/fundraising and r/nonprofit were not checked and are not listed. NTEN, Imagine Canada and CharityVillage are on the 8132 record and not repeated.