Contact Information: Frontier Contact: Jill Purdy jpurdy@carolina.rr.com 704-236-2501 Social Solutions Contact: Melissa Chotiner melissa@dbcpr.com 202-292-4572
Social Solutions Secures $6.5 Million in Expansion Funding
Performance Management Software Provider to Nonprofits to Invest in Additional Sales, Marketing and Product Suite Enhancements
| Source: Social Solutions
BALTIMORE, MD--(Marketwire - February 19, 2009) - Social Solutions, the leading provider of
nonprofit performance management software, today announced that the company
has received $6.5 million in expansion funding.
Charlotte, N.C.-based Frontier Capital led the investment with
participation from existing investors, WWC Capital Group and IDEA Fund
Partners. Frontier is a private equity firm providing growth equity to
technology enabled business services companies.
Founded by human service workers, Social Solutions is nationally recognized
for empowering human service providers and the organizations that fund them
to strategically tie their efforts to measurable outcomes. The company's
Efforts-to-Outcomes (ETO) Software® provides a central platform that
makes it possible for organizations to understand and manage the
performance of point of service staff, individual agencies, and the
community of services as a whole.
Frontier's investment is expected to support expansion of Social Solutions'
sales and marketing resources and further enhancement of the company's
suite of products and services.
"Since our establishment in 2000, we have consistently experienced
exceptional growth and are very proud that now more than 2,500 nonprofit
organizations nationwide currently rely on ETO software to better measure,
plan and manage the effectiveness of their activities to ensure the
greatest social impact," said Matthew Schubert, CEO of Social Solutions.
"With this funding from Frontier Capital, we will be able to accelerate the
development of our innovative solutions, build out service delivery and
increase the number of human services organizations that are maximizing the
outcome of their efforts."
"We have been very impressed with the evolution of Social Solutions as it
has brought performance management to the forefront of effective social
giving," said Andrew Lindner, managing partner of Frontier Capital. "Now
more than ever, both funders and nonprofit organizations are demanding the
increased effectiveness facilitated by ETO Software. We are pleased to
partner with Social Solutions in accelerating the company's growth
trajectory."
About Social Solutions and ETO Software®
Social Solutions challenges and equips human service providers and their
funders to turn good intent into measurable change by relating efforts to
outcomes. The company's ETO (Efforts to Outcomes) reporting software
replaces one-size-fits-all data tracking with a reporting system tailored
to the unique mission of each nonprofit organization. ETO Software®
generates a clear and accurate measure of impact to improve service
delivery, earn more funding, and reduce the time and resources dedicated to
tracking performance.
About Frontier Capital
Frontier Capital was founded in 1999 as a private equity firm focused on
providing capital and support to technology enabled business services
companies. Frontier invests in high growth companies with a proven solution
in the marketplace that can benefit from capital to accelerate growth, fund
acquisitions, or generate shareholder liquidity. The firm is based in
Charlotte, NC, and currently has $160 million under management. For more
information on Frontier Capital, visit www.FrontierCapital.com