Seattle-based Snap! Mobile Inc., the parent company of fundraising platform Snap! Raise, has acquired Lombard, Illinois-based school software company CNXT Digital.
CNXT Digital has roughly 10 employees, all of whom will be joining Snap! Mobile but aren't going to have to relocate, Snap! Mobile co-founder and CEO Cole Morgan said. The company now has a total of 237 employees after the acquisition, which was announced Friday.
"That's where this wins, is by bringing the right people on board," Morgan said. "They're a great team that is in it for the right reasons. I think they believe that our customer is important to them, our shared customer."
The acquisition of CNXT Digital gives Snap! Mobile access to its two software products, 8to18 and SchoolCNXT. 8to18 is a product aimed at athletic directors that provides roster management, scheduling support and content management. SchoolCNXT, meanwhile, is a communication tool for schools and families that also has a language translation function.
This is the second acquisition Snap! Mobile has made since it raised $90 million in August. In September, Snap! Mobile acquired the Pasadena, California-based fintech company Groundwork, which gave Snap! Mobile an entryway into banking, budgeting and billing services.
Snap! Mobile, founded in 2014, allows teams and clubs to raise money and manage their campaigns online through Snap! Raise. The company says Snap! Raise has served more than 15,000 schools and organizations with over 88,000 campaigns. In addition to its fundraising tool, Snap! Mobile has e-commerce and money management tools.
Morgan said the companies aren't disclosing the financial terms of the deal. He added that Snap! Mobile will eventually transition away from the CNXT Digital brand over time, but there isn't a rush.
"Our opportunity is to become truly the platform for schools," Morgan said. "There is the opportunity to really build a single sign-on between the administrative layer and the program layer within a school so there's no disconnect."
