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Latvian start-up Funderful acquired by U.S. giant in fundraising

Raimonds Kulbergs, the head of Funderful/publicity photo

Latvian start-up Funderful, which provides artificial intelligence-based communication tools to university campuses, has been bought by U.S. firm Ruffalo Noel Levitz (RNL), according to a press release by the Latvian firm.

The Latvian start-up was founded in 2014 and currently employs five people. It provides communication solutions that facilitate fundraising for higher education institutions.

During its four years of operation the firm’s tool has been used attract donations totalling over four million U.S. dollars. The firm has cooperated with the colleges of Oxford and Cambridge and the London Business School in the UK, as well as with the universities of Berkley and Georgetown and the Westpoint Military Academy in the U.S., reads the press release.

Funderful described its buyer RNL as the leader in the U.S. market in attracting students to universities and the development of donation campaigns. RNL was said to use analytical data and personalised tools of involvement in the digital environment that have allowed the firm to assist over 1 900 higher education institutions and charity organisations.


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