San Diego startup Classy saw nonprofits raise record amounts of funding on its platform on Dec. 31, even surpassing Giving Tuesday.
The company, which designs fundraising platforms for philanthropies, saw nonprofits raise $24 million on Dec. 31, 2018, up 93 percent from the prior year. It also broke Classy’s record of the most funds raised in one day, beating the $15.4 million nonprofits raised through the platform on Giving Tuesday.
The $24 million was spread across nearly 80,000 donations, with an average gift size of $312. The number of donations made through Classy’s platform increased 70 percent from 2017.
"The spirit of generosity during the peak giving season never ceases to amaze me, and this year was no different," Classy CEO and Co-Founder Scot Chisholm said in a news release. "Given the tremendous value of recurring donors, it was especially encouraging to see the number of new recurring plans increase year over year. As we move full steam ahead into 2019, we're excited to see nonprofits continue to grow their sustainable revenue by harnessing the power of online giving—made easier by our platform."
Classy has been pushing to help nonprofits create more recurring donors through its platform. According to Classy, the number of sign-ups for recurring donation plans in the last two weeks of 2018 doubled compared to the end of 2017.
In October, Classy hit a major milestone, with $1 billion raised through its platform. The company said it’s on track to double that in the next two years.
Correction: The increase in the number of gifts made through Classy's platform has been corrected to 70 percent.