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New York Ventures to Invest $1.5 Million in GiveGab

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ITHACA, NY, Aug. 30, 2018 (GLOBE NEWSWIRE) -- GiveGab, the Nonprofit Giving Platform, today announced an investment of $1.5 million from New York Ventures, the venture capital arm of Empire State Development (ESD). GiveGab will use the funding to build out its sales and engineering teams, refine its SaaS platform, and for other ordinary working capital requirements.

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This investment will add to the company's tremendous growth over the last six months, bringing GiveGab's Series A funding to over $9 million. GiveGab plans on using the funding to continue to innovate in its best-in-class giving day and year-round fundraising platforms.

New York Ventures meets the critical capital needs of New York State's innovation economy by providing funding to high-growth startups as they move from concept to commercialization, through early growth and expansion. The mission of ESD is to promote a vigorous and growing state economy, encourage business investment and job creation, and support diverse, prosperous local economies across New York State.

Empire State Development President, CEO, and Commissioner, Howard Zemsky said, "New York Ventures is proud to assist companies like GiveGab that are bringing high-skilled jobs and economic activity to Upstate New York. By investing in new and innovative firms, we can encourage the next generation of entrepreneurs to settle and create jobs in the Southern Tier."

"GiveGab is thrilled to receive an additional $1.5M in growth funding from New York Ventures. We've worked with Brian Keil and others from ESD for many years, and we're excited to be at the stage to best benefit from additional growth capital from such a great partner.  ESD brings support and experience that provides value far above the monetary commitment," said Charlie Mulligan, GiveGab CEO and Co-founder.

About New York Ventures

New York Ventures is the venture capital investment arm of Empire State Development, New York State's chief economic development agency. New York Ventures meets the critical capital needs of the state's innovation economy by providing funding to high-growth startups as they move from concept to commercialization, through early growth and expansion. More information is available here

About Empire State Development

Empire State Development (ESD) is New York's chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo's Regional Economic Development Councils and the marketing of "I LOVE NEW YORK," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.

About GiveGab

GiveGab is the Nonprofit Giving Platform, providing an easy and enjoyable way for fundraising professionals to raise money online. Designed for cause-based organizations, community foundations, and the higher education sector, GiveGab offers a complete suite of products and services for year-round fundraising, giving days, and more.   

Marcy Ogborn
GiveGab
607-745-7249
marcy@givegab.com

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