Virtuous is on a fast track to continued growth in 2024, and is the winner in the software category at the 2024 AZ Inno Fire Awards.
The Phoenix-based company, founded a decade ago by Gabe Cooper, created a software platform that helps streamline fundraising, marketing and donor development processes for nonprofits. Some of its clients are Habitat for Humanity, Meals on Wheels and Catholic Charities.
The company — which AZ Inno named a “Startup to Watch” in 2023 — is continuing to expand its presence, serving more than 2,000 customers nationwide and achieving 525% growth over the past three years, according to Inc. magazine.
Last year alone, Virtuous reported a 50% increase in annual revenue, Cooper told AZ Inno, though he didn't divulge specific financials. The company has more than 155 employees. In March, Virtuous hired Jeff Perkins as its chief marketing officer to drive additional brand awareness and growth.
“We really got off to a fast start in 2024,” Cooper said. “We shipped two innovative new products — VirtuousBI and RaiseDonors — that we believe will greatly impact the nonprofit industry and help increase donor generosity. We continue to see significant demand for our modern solutions as many nonprofits seek to move off the expensive antiquated legacy systems.”
The company also launched two products: VirtuousBI, a data analytics engine to help nonprofits gain insights into donation and marketing information, and RaiseDonors, which provides enterprise-level tools to drive increased online giving.
Virtuous has remained “capital efficient” since it raised $18 million in a series B round in July 2021. It aims to invest more in research and development to improve nonprofit generosity.
Cooper on May 14 launched his book, “The Responsive Nonprofit: Eight Practices that Drive Nonprofit Innovation and Impact," that provides a roadmap for nonprofits to accelerate innovation.
Here are the software category finalists:
PRIVV, Scottsdale
- CEO: Ville Houttu
- Founded: 2023
- What they do: Privv is a SaaS platform that manages all tasks for capital improvement projects.
Nuclearn, Phoenix
- CEO: Bradley Fox
- Founded: 2021
- What they do: Nuclearn developed a machine learning platform with products that automate tasks for utilities and nuclear power plants.
Quibble, Scottsdale
- CEO: Neal Cyr
- Founded: 2020
- What they do: Quibble created a dynamic pricing and revenue management platform for the vacation rental industry and property management companies.
