Carthay Circle-based YourGiving Inc., which develops a gifting platform for churches, raised $15 million in a private placement for its Tithely.ly business.
The company, which is valued at $129 million and has its Tithely.ly software in more than 10,000 churches with some congregations as large as 12,000, offers mobile apps, text-to-give and online giving solutions, plus software to manage worship services and other church activities.
YourGiving was founded in 2015 by Dean Sweetman, chief executive officer, and Barnabas Sweetman, executive director, and son of Dean Sweetman.
“We offer custom apps that allow a church to integrate everything going on in the church, and connect with those in the church outside of Sundays,” Sweetman said.
YourGiving has raised more than $4.66 million since its founding, according to filings made with the U.S. Securities and Exchange Commission, and confirmed by Dean Sweetman.
Dean Sweetman said in the interview that the company is a remote company with roughly 70 employees who perform everything from sales and support work to engineering and marketing.
The revenue model is based on 30 cents per transaction and a 2.9 percent charge per donation. A free-of-charge app also is available, but doesn’t offer as many bells and whistles to monitor management activities within a church.
Finance reporter Pat Maio can be reached at email@example.com or (323) 556-8329.
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