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

The Black female-founded tech company Resilia has reportedly raised close to $50 million in venture capital to date to help fund expansion efforts, according to nola.com.

Resilia, an internet-based service provider, was founded five years ago by New Orleans native Sevetri Wilson. The company recently closed a $35 million series B round to help nonprofits and funders scale via resources that go beyond monetary grants, as reported by Business Wire. 

Per the company’s website, Resilia is a software application that enables nonprofits to maximize their impact with access to a funder database of over 60,000 grantmakers, technical assistance, coaching, micro-learning courses, and a slew of other services.

Resilia, which has offices in New York and New Orleans, first made history in 2020 when it closed an $8 million series A round. Wilson is making history once more with her latest capital raise, as series B marks the highest-ever for a solo Black female-founded technology company. It is also the largest VC raise of a female founder in the state of Louisiana, according to the news release.

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

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

“This latest investment gets us closer to realizing our vision of democratizing philanthropy by reallocating power over its decision-making 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 bringing on board more North American organizations.

Ajay Gopal, partner at Framework Venture Partners, noted, “The nonprofit sector has been historically underserved by technological innovations, but Resilia has created necessary, scalable solutions to empower organizations to increase capacity, execute on their own missions and propel teams to do more of what they do best.”

Resilia, which launched in 2017, has experienced over 300% annual revenue growth, according to the news release. The company has more than 15,000 nonprofit clients and enterprise customers, 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 is bringing to nonprofits maximizes the impact organizations have on communities and is a true game-changer,” said Paul Judge, managing partner at Panoramic Ventures.

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