Accounting
Nonprofit Cloud Software Maker Receives $2M in Funding
Nonprofit cloud software provider Aplos Software LLC has raised two million dollars in new funding, the company announced on Wednesday. It plans on using the funding to expand the Aplos nonprofit software suite and to open it to API integration. T
Apr. 17, 2014
Nonprofit cloud software provider Aplos Software LLC has raised two million dollars in new funding, the company announced on Wednesday. It plans on using the funding to expand the Aplos nonprofit software suite and to open it to API integration. Aplos' key products include online accounting management systems and tax preparation systems for nonprofit organizations.
The California-based startup has set its sights on the nation’s one and a half million small and mid-sized nonprofits that primarily rely on a combination of small business and nonprofit desktop software.
The new financing from private investors brings the company’s total funding to $3.4 million. Aplos Software plans to use the new financing to accelerate the development schedule for new features in its existing nonprofit accounting and donor management software. This includes the release of an API to integrate with other popular web-based software used by churches and nonprofits. Since the release of its web-based software in 2011, Aplos Software has served over 10,000 organizations with its nonprofit software suite.
“Nonprofits use a mix of online and desktop business software that is not made for their unique needs. This means time is wasted with complicated work-arounds and duplicating entries in multiple systems,” said Tim Goetz, co-founder of Aplos Software. “Aplos is leading the nonprofit software sector into SaaS so nonprofits have one simple, integrated software designed specifically for their management needs.”
According to Urban Institute’s “2013 Nonprofit Sector in Brief,” nonprofits with less than $500,000 in annual expenses make up more than 75% of the nonprofit sector. “Integrated solutions for nonprofits exist, but they aren’t priced for the majority of nonprofits. With the flexibility of SaaS, Aplos can create a comprehensive nonprofit software that even the smallest nonprofit can afford,” said Goetz.
Other uses of the recent financing include expanding Aplos support and marketing teams in response to increased opportunities from church denominations, large nonprofit organizations, and professional nonprofit accountants.