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The Foundation Center

PHILANTHROPY NEWS DIGEST
   Vol. 6, Issue 7
   February 15, 2000

Charitableway.com to Offer Workplace Giving Stations

Charitableway.com, a for-profit charity portal Web site, has received $35 million in funding from a group of investors that includes TCV, Benchmark Capital, Softbank Technology Ventures, PaineWebber Inc., JGE Capital Management, Donaldson, Lufkin & Jenrette, Comdisco, Hambrecht & Quist, and Hewlett-Packard.

The portal site will use the funding to provide businesses with customizable online Workplace Giving Centers as a way for their employees to donate to charity and connect with their communities.

"This second round of funding will help us meet the market demand to make charitable and workplace giving an easier and more engaging experience," said Pete Mountanos, founder and CEO of Charitableway.com. "By making it a simpler, more informative and more interactive experience for companies and their employees to get involved, we are finding new ways to help increase charitable contributions in America."

Michael Linnert of TCV and an executive to be named from PaineWebber will be joining the Charitableway.com board of directors. Current board members include former Hewlett Foundation president David Gardner, AOL senior vice president Mike Homer, Benchmark Capital partner Andy Rachelff, Softbank Technology Ventures executive managing director Gary E. Rieschel, and Charitableway.com CEO Pete Mountanos.

Charitableway.com has also joined with Social Ecology, an application service provider for the nonprofit sector, to offer DonorLink IT, Web-based email relationship management software designed to make it easier for nonprofit organizations to keep track of and communicate with their supporters. When DonorLink debuts in the spring, Social Ecology will allow nonprofits that are part of the Charitableway.com network to use the program for free for an introductory period.

"Charitableway.com Receives $35 Million in Series B Funding to Become the Premier Application Service Provider Linking Businesses and the Nonprofit Sector." Business Wire 2/8/2000.

"Social Ecology and Charitableway.com Connect Nonprofits With New Ways To Manage Donor Relationships." Business Wire 2/15/2000.

See also: Wolverton, Troy. "Charities Gear Up to Tap Online Donations." CNET News.com 2/10/2000.

FC003185


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