Resilia is a Black owned Software company based in New Orleans. Founded by serial entrepreneur Sevetri Wilson in 2016, Resilia’s mission is to harness the power of technology and human connection to bridge gaps between those deploying capital and those on the receiving end, and to democratize innovation for the entire nonprofit industry.
Today, Resilia announced an $8M series A funding round to support the company’s growth and increased demand. In addition to being one of the largest series A rounds of an enterprise software company headed by a Black woman founder, it also marks the highest venture capital raise by a woman-founded tech company in the state of Louisiana.
The platform’s Nonprofit Formation product (available in all 50 U.S. states) offers a “turbo tax” approach, expediting the process of incorporating and applying for tax exemption. For existing nonprofits, Nonprofit Pro and Plus help organizations stay compliant while increasing capacity through online training, webinars, and other resources geared to productize consultancy services drastically reducing costs to nonprofits.
Lastly, Resilia’s Enterprise solution enables grantors to streamline data collection; track budgets; manage grantees, reporting, and evaluation; and provide much-needed capacity support to the projects and organizations that they fund.
According to 2019 report from the Urban Institute, there are approximately 1.56 million nonprofits in the U.S. Those organizations contributed roughly $985.4 billion to the U.S. economy in 2015, according to the last available data. That’s roughly 5.4% of the U.S. gross domestic product.
Of those nonprofits, public charities accounted for three-quarters of revenue and expenses representing $1.98 trillion and just less than two-thirds of the total assets of the nonprofit sector, which amount to a whopping $3.67 trillion.
Those numbers represent a massive opportunity for companies that can find better, lower-cost ways to service these organizations and help make the entire industry run more efficiently.
“We are serving a two-sided market,” Wilson said. “We are providing software solutions from nonprofits… Helping them come online… whether you’re a charter school or healthcare clinic, and from there we have helped nonprofits with their compliance and fundraising and built that into a subscription platform.”