One of those moments occurred last year when we published our first Best Practices reports, Best Practices for Prospect Research in Healthcare Fundraising. Since then, we’ve released the same for higher education, are underway with our best practices study for fundraising in the Arts and we’re already working on a second edition for healthcare.
Our commitment to advancing education and dialogue around prospect research extends to the web with our monthly online workshops, designed around best practices. These virtual workshops have been enormously popular. In fact, over 1100 people registered for our last workshop on Prospect Research Fundamentals. On behalf of all of us at WealthEngine, I want to extend our thanks to the clients and industry experts who take the time to co-present at these workshops, alongside our own in-house fundraising experts.
Having served as a fundraising partner to so many organizations, I feel that we have a very good understanding of today’s market dynamics and a vision for what is needed to help organizations be more successful in the years to come.
That brings me to another seminal moment that occurred this year when WealthEngine secured $5 million in private equity funding from two terrific private equity partners Novak Biddle Venture Partners and QED Investors. Not in need of operating cash, we were able to selectively seek out the best equity partners - firms that understand our business, have an appreciation for our clients and support our strategic vision. We intend to leverage the investment and the network of our new partners to accelerate our product development and analytics capabilities over the next 18 months.
Our market is clearly evolving and we see a greater need to innovate and challenge the status quo. Organizations large and small, those that are highly sophisticated and those less so, ultimately will need more targeted data sets, better analytics and the ability to embed meaningful data into established business processes.
As you read more in this issue of WealthEngineWorks, I think you’ll be as excited as we are about what the future holds for WealthEngine clients.