Razoo, Fastest Growing Crowdfunding Site For Causes, Hits $100M Milestone

Rapid growth leads to West Coast HQ opening in San Francisco and high-profile new hires to its senior management team

SAN FRANCISCO & WASHINGTON--()--Razoo, the fastest growing crowdfunding platform for causes, announces its online community has raised $100 million for more than 14,000 nonprofits, and more than half of that was raised in the last 9 months. The company reached the $100 million mark in part by being the industry leader in Giving Days - 24-hour online fundraising competitions that have become the catalyst for local giving events that combine gamification and deep social interaction. Razoo has executed 15 giving days across the U.S., including the most successful Giving Day ever with its partner GiveMN in Minnesota, raising $14 million in 24 hours.

“Our world class giving platform, full suite of social fundraising tools and the industry’s lowest price point at 2.9% have fueled our recent growth.” said Razoo CEO, Lesley Mansford. “Our focus on amplifying local giving really sets us apart.”

With continued growth, Razoo is now bi-coastal with new headquarters in San Francisco, in addition to its original Washington, DC location. Razoo is also announcing the addition of three new executive team members. Together, they are industry veterans in entrepreneurship, e-commerce, philanthropy, digital media, and social change:

Burton, a serial entrepreneur, co-founded several companies, including Symbian, the creator of the mobile platform that has powered over half a billion devices, and most recently was CTO at Fundly. Carter brings years of experience from ecommerce giants like Amazon and Gap, and developed, social and mobile products for Ofoto and Kaboodle. Rupp joins Razoo from the Omidyar Network and has spent her career at the forefront of innovation in economic development, scalable philanthropy and socially responsible investments around the world.

“Reaching the $100M milestone is just the beginning.” said Mansford. “The opportunity and Razoo’s vision is to build a global giving community focused on the donor, providing a unique experience that is fun, meaningful and ultimately life-changing. Our belief is that the joy of giving belongs to everyone. And our name, Razoo, is a reminder that even small contributions can make big differences – a Razoo is an Australasian term for a virtual coin of tiny value.”

Razoo is seed funded by the Legatum Group, a private investment group with a 25-year heritage of investing in the global capital markets. Legatum’s mission is to generate and allocate capital and ideas that help people to lead more prosperous lives.

Philip Vassiliou, Managing Director of The Legatum Group, commented, “Razoo is fast emerging as the premier platform for online giving forging a brand new category. It has always been Legatum’s aspiration to see Razoo grow to become the leading social giving site by connecting donors with those who are less fortunate and changing lives and communities all over the world. With today's announcement the company is demonstrating that it is on track to accomplishing its goal of becoming the leading brand of giving globally.”

Vote for Razoo CEO Lesley Mansford to speak about the gamification of social giving at SXSW in 2013 by going to: http://panelpicker.sxsw.com/vote/6062 and http://panelpicker.sxsw.com/vote/3525 from August 14th – August 31st.

About Razoo

Razoo is a venture funded social enterprise committed to transforming people’s lives through meaningful giving. Its online platform facilitates crowdsourced fundraising for individuals and nonprofits. Razoo is also the leader in community giving days, whose platform has enabled the raising of millions of dollars for local communities around the country. With offices in San Francisco and Washington, DC, Razoo is seed funded by the Legatum Group. The name Razoo is of Australian and New Zealand origin. It refers to a coin of little value: when combined, these small contributions make a huge difference. For more information on Razoo, go to www.razoo.com, follow us on Twitter at @Razoo, or like us on Facebook at www.facebook.com/razoogiving.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50375947&lang=en

Contacts

Grayling Connecting Point
Deanna Siste, 415-442-4020
Deanna.Siste@graylingcp.com

Lesley Mansford, Chief Executive Officer. (Photo: Business Wire)

Lesley Mansford, Chief Executive Officer. (Photo: Business Wire)

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Release Summary

Razoo's rapid growth leads to West Coast HQ opening in San Francisco and high-profile new hires to its senior management team.

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Contacts

Grayling Connecting Point
Deanna Siste, 415-442-4020
Deanna.Siste@graylingcp.com