Blackbaud Invests in Generative AI Startup for Social Impact
A Blackbaud Partner, Momentum, is Helping Blackbaud Customers Create More Impact with AI
Charleston, S.C. (July 31, 2023) — Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today announced a strategic investment in Momentum, a leading AI-focused Blackbaud partner, graduate of Blackbaud’s Social Good Startup tech accelerator program, and winner of Blackbaud’s 2022 startup showcase.
Blackbaud recently unveiled a major new wave of its Intelligence for Good® strategy, with a commitment to increase the availability of AI-enabled partner solutions in the Blackbaud Marketplace. This investment in Momentum is one way the company is accelerating product delivery and focusing on the creation of AI capabilities embedded in Blackbaud solutions. With Momentum’s integration with Blackbaud Raiser’s Edge NXT®, Blackbaud customers can optimize their fundraising and stewardship processes.
“A tremendous opportunity exists for social impact organizations to use AI to address key operational and financial challenges,” said Mike Gianoni, president and CEO, Blackbaud. “Blackbaud is actively investing in organic analytics and AI capabilities, and partnering with leading AI companies such as Momentum, to enable our customers to reach donors at a scale never seen before.”
Momentum, founded by behavioral scientists from Duke’s Center for Advanced Hindsight, launched the first version of its solution in 2019. Key to Momentum’s success is a focus on the use of AI to create fundraising tools that build lasting relationships between high impact charities and their donors.
In its current release, the Momentum platform connects donor portfolios with automation and generative AI capabilities to deliver personalized first-draft communications and outreach recommendations directly to a fundraiser’s email inbox. Customers using Momentum thus far have experienced a 400% increase in the number of personalized touchpoints their fundraisers could produce and an average of $60,000 per month in increased donations.
Momentum originally joined the Blackbaud ecosystem through participation in the Blackbaud Social Good Startup Program, where the company was connected to Blackbaud experts and fast-tracked into Blackbaud’s partner program.
According to Nick Fitz, founder and CEO of Momentum, “Blackbaud’s tech accelerator has been a pleasure to be a part of. With their help, we’ve refined our AI capabilities and integrated core infrastructure. We’re working directly with fundraisers—helping people build more meaningful relationships with less psychological burden—and we’re excited to learn from the leader in the space. This investment, and guidance from Blackbaud, will help us better serve the people powering the social good sector.”
As Blackbaud continues to enhance its AI offerings, partners are a key piece of the company’s strategy to grow the ecosystem around its leading solutions and services for social impact organizations. Learn more about Blackbaud’s Intelligence for Good approach here and read more about the Blackbaud Partner Network here.
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud’s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud’s solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek’s list of America’s Most Responsible Companies, Quartz’s list of Best Companies for Remote Workers, and Forbes’ list of America’s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on Twitter, LinkedIn, Instagram and Facebook.
Momentum is an innovative AI and behavioral science company helping people build more meaningful relationships. Founded in 2019, our technology streamlines fundraising processes through thoughtful workflow automation and artificial intelligence, enabling fundraisers to focus on relationship-building rather than administrative tasks. Through our suite of products, Momentum has powered impactful campaigns, driving effectiveness and warmth in philanthropy. Our commitment to enhancing fundraising practices has made us a trusted partner for organizations around the world. For more about how Momentum is serving the sector, visit www.givemomentum.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organization; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.