Salsa Labs receives Maryland Venture Fund's largest-ever investment, $1M
Salsa Labs, a marketing software provider for nonprofit organizations and social and political campaigns, has received the largest-ever investment from the State-run Maryland Venture Fund. The Maryland Department of Business and Economic Development (DBED) announced the $1 million investment on Thursday. Edison Ventures, an information technology investor, led the $5 million round.
Company officials have committed to moving Salsa Labs and its 50 employees to Maryland, from its current offices in Virginia and Washington, D.C. Founded in 2004, the software serves more than than 2,000 organizations and 15,000 campaign managers. Nonprofit clients, ranging from the Sunlight Foundation to Aid for Africa, have raised more than $280 million and driven more than 36 million actions online.
“Online engagement is key to a nonprofit’s long-term success, and we have built a comprehensive, easy-to-use solution focused on enhancing how the nonprofit organization connects with its donors and activists,” Salsa Labs CEO Scott Stouffer said in a statement. “With this funding, we will continue to invest in supporter-centric product innovation that furthers our clients’ missions.”
“We are proud to make the largest-ever Maryland Venture Fund investment in Salsa as they bring their cutting-edge technology and exciting growth to Maryland,” DBED Secretary Dominick Murray said in a statement. “High-tech and innovative companies like Salsa are critical for the health of Maryland’s vibrant Innovation Economy, and we are committed to support them as they expand and create family-sustaining jobs.”