Benevity
{{Short description|Canadian technology company}}
{{Use Canadian English|date = February 2020}}
{{Use mdy dates|date = February 2020}}
{{Infobox company
| name = Benevity, Inc.
| logo = Benevity logo.svg
| logo_caption =
| logo_size =
| type = Privately held company
| owners = Hg, The Rise Fund, Generation Investment Management, JMI Equity, General Atlantic
| foundation = {{start date and age|2008}}
| founder = Bryan de Lottinville
| num_employees_year = 2019
| hq_location_city = Calgary, Alberta
| hq_location_country = Canada
| area_served = Worldwide
| key_people = {{Unbulleted list
|Bryan de Lottinville (Executive Chairperson)
|Kelly Schmitt (CEO){{Cite news|title=Kelly Schmitt, President and CFO, succeeds Bryan de Lottinville as CEO |url=https://benevity.com/media/media-releases/executive-transitions |date=2021-01-19}}}}
| industry = Computer software, Cloud software, Software as a service
| products =
| revenue = $100 million (2019)
| homepage = {{URL|benevity.com}}
}}
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. Its customers include Nike, Coca-Cola, Microsoft, Google, and Apple,{{Cite news |last=Healing |first=Dan |title=New York partner powers software firm's drive to make charity more efficient |url=https://nationalpost.com/pmn/news-pmn/canada-news-pmn/new-york-partner-powers-software-firms-drive-to-make-charity-more-efficient |newspaper=The National Post |agency=Canadian Press |date=2018-05-06 |accessdate=2020-02-15}} and about 250 of the Fortune 1000 {{As of|2017|lc=y}}.{{Cite news |last=McGregor |first=Jena |title=U.S. workers have been giving a lot more money to the ACLU |url=https://www.washingtonpost.com/news/on-leadership/wp/2017/09/14/u-s-workers-have-been-giving-a-lot-more-money-to-the-aclu/ |url-access=subscription |newspaper=Washington Post |date=2017-09-14 |accessdate=2020-02-19}}
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.{{Cite news |last=Parker |first=David |title=Benevity brings more meaning to companies that care |url=https://calgaryherald.com/business/local-business/around-town-june-4-benevity |newspaper=Calgary Herald |date=2015-06-04 |accessdate=2020-02-15}}
History
Benevity 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. 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.{{Cite press release |title=Benevity Becomes a Certified B Corporation |url=https://www.benevity.com/press-releases/benevity-becomes-a-certified-b-corporation |publisher=Benevity |date=2010-06-08 |accessdate=2020-02-15}}
In 2016, Benevity was the third-fastest growing startup in Canada as ranked by Deloitte, with over 5,800% revenue growth.{{Cite web |title=Technology Fast 50™ winners |url=https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/technology-media-telecommunications/ca-en-fast50-winners-2018-aoda.pdf |publisher=Deloitte |work=Technology Fast 50 2018 Canada |date=2018 |accessdate=2020-02-15}} In 2017, Benevity ranked 10th with 5,411% revenue growth.
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.{{Cite news |last=Silcoff |first=Sean |title=‘World class’ Calgary startup Benevity raises $40-million to finance growth plan |url=https://www.theglobeandmail.com/business/article-world-class-calgary-startup-benevity-raises-40-million-to-finance/ |newspaper=The Globe and Mail |date=2019-10-22 |accessdate=2020-02-15}}
In December 2020, Benevity achieved unicorn status when Hg Capital purchased a majority stake in the company for US$1.1 billion.{{Cite web|last=Kost|first=Hannah|title=Calgary startup becomes corporate 'unicorn' with deal worth $1.1B US|url=https://www.cbc.ca/news/canada/calgary/benevity-startup-unicorn-billion-calgary-software-tech-firm-1.5831053|url-status=live|archive-url=https://web.archive.org/web/20201208002507/https://www.cbc.ca/news/canada/calgary/benevity-startup-unicorn-billion-calgary-software-tech-firm-1.5831053 |archive-date=December 8, 2020 }}
Headquarters
File:Calgary, April 2016 (22) (25929886483).jpg
When Benevity was founded in 2008, the company was based in a small office above a shawarma shop. In 2017, Benevity moved into its fifth and largest headquarters, the Meredith Block office building in Bridgeland, adjacent to downtown Calgary.{{Cite web |last=Chatha |first=Aaron |title=Startup success: Calgary company Benevity grows into new location |url=https://www.startupcalgary.ca/startup-calgary-news/2017/11/10/benevity |publisher=Startup Calgary |date=2017-11-10 |accessdate=2020-02-15}}{{Cite web |last=Willerton |first=Alana |title=Inside Benevity’s Dog-Friendly, Mural-Filled Office in Bridgeland |url=https://www.avenuecalgary.com/City-Life/Office-Space/Inside-Benevity-Office-Calgary/ |publisher=Avenue Magazine |location=Calgary |date=2018-05-23 |accessdate=2020-02-15}}
{{As of|2021}}, Benevity also has offices in Victoria, BC, Toronto, ON, San Mateo, California, Geneva, Switzerland. and Barcelona, Spain.
References
{{Reflist}}
External links
- [https://www.benevity.com/ Official website]
Category:2008 establishments in Alberta
Category:Companies based in Calgary
Category:Business services companies established in 2008
Category:Information technology companies of Canada
Category:Canadian companies established in 2008
Category:Software companies established in 2008