Black female tech entrepreneur raises nearly $50M for software company expansion

This is the largest VC raise by a female founder in the state of Louisiana.

Resilia, a technology company founded by black women, has raised nearly $50 million in venture capital to date to aid development efforts, according to nola.com.

Resilia, an Internet-based service provider, was founded five years ago by New Orleans native Sevetri Wilson. According to Business Wire , the company recently closed a $35 million Series B round to help nonprofits and investors through resources that go beyond grants.

Resilia will reportedly use the latest funding to expand its sales efforts and technology platform.  (Photo from AdobeStock)

Resilia will reportedly use the latest funding to expand its sales efforts and technology platform. (Photo from AdobeStock)

According to the company’s website, Resilia is a software program that enables nonprofits to maximize their impact with access to a funder database of more than 60,000 donors, technical assistance, coaching, micro-training courses, and a host of other services.

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Resilia, which has offices in New York and New Orleans, first made history in 2020 by closing an $8 million Series A round. Wilson is making history once again with its latest funding round, as the Series B is the highest ever for a solo tech company founded by a black woman. This is the largest VC raise by a female founder in the state of Louisiana, according to the news release.

The latest round was led by Panoramic Ventures and Framework Venture Partners and includes Mucker Capital, Callais Capital, Cultivation Capital and others. Goldman Sachs Asset Management Fund is among the group of new investors.

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“Our goal at Resilia has always been to provide access to nonprofits—something our team has worked tirelessly to accomplish,” Wilson said in a statement via news release.

“This latest investment brings us closer to realizing our vision of democratizing philanthropy by redistributing decision-making power and resources, as well as providing more seats at the table,” Wilson continued.

Resilia will reportedly use the latest funding to expand its sales efforts and technology platform by onboarding more organizations in North America.

Ajay Gopal, partner at Framework Venture Partners, noted, “The nonprofit sector has historically been underpowered by technology innovation, but Resilia provides the necessary, scalable solutions to empower organizations to build capacity, deliver on their missions, and drive teams to action. has created more. It’s what they do best.”

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Launched in 2017, Resilia has experienced more than 300% year-over-year revenue growth, according to the news release. The company has more than 15,000 nonprofit and corporate clients, including Oxfam America, the Robert Wood Johnson Foundation, Goldman Sachs’ One Million Black Women Initiative and the United States Tennis Association Foundation.

“The innovation that Resilia brings to nonprofits maximizes organizations’ impact on communities and is a true game changer,” said Paul Judge, Managing Partner of Panoramic Ventures.

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