Frontier Capital and Ed Crutchfield, former chief executive officer at First Union, are the leaders in a $2 million investment round in CreateHope.
CreateHope, based in Bethesda, MD, is a provider of software and services to the philanthropy industry. The company, which said it is profitable, will use the funds to “expand operations, sales and service delivery.”
Richard Maclean of Frontier will join CreateHope’s board. Crutchfield will serve as an advisor.
“In considering this investment, we were particularly impressed with the caliber of clients CreateHope serves, and the transparency, accountability and efficiency its software delivers,” Maclean, managing partner of Frontier, said in a statement. “We are extremely excited about partnering with the CreateHope team to accelerate the company’s future growth.”
Added Crutchfield: “CreateHope’s technology eliminates the barriers and complexities that corporations and their employees encounter in administrating and participating in workplace giving initiatives. In my experience, it’s clearly a win-win solution because it reduces administrative costs, increases program effectiveness, and enables companies to provide workplace giving programs that their employees actually enjoy and view as a real benefit.”
CreateHope said it would handle more than $40 Million in employee donations and grants for more than 20 companies in the U.S. and Canada with services like its “Giving Station.”
“This investment will allow us to deploy a national sales and support team to meet growing demand in the marketplace for our services,” said Adam Goozh, chief executive officer of CreateHope, in a statement.
Frontier Capital: www.frontierfunds.com