We have exciting news to share! Hubbub received a $1 million investment in VentureClash in Connecticut on October 20.
About Venture Clash
VentureClash is a global investment challenge by Connecticut Innovations, focusing on high potential companies in digital health and fintech.
Hubbub was among the 11 finalists from eight countries to pitch to a panel of six judges at the Yale School of Management, winning an investment of $1 million to establish its presence in Connecticut.
“In our inaugural year of VentureClash, we couldn’t have asked for a higher-caliber group of entrepreneurs,” said Matt McCooe, CEO of Connecticut Innovations. “Hubbub has a unique offering for foundations and education development offices that will help their fundraising efforts, and is led by a talented entrepreneur. We look forward to welcoming Hubbub to Connecticut and helping contribute to its growth and success.”
Hubbub’s CEO & Founder, Jonathan May, explains more:
VentureClash is Connecticut Innovations’ global investment challenge focused on early-stage companies. Its high quality of participants, its efficiency, and its great team contributed to our decision of joining, while the investment allows us to make a significant impact on our ability to come to the market.
By reaching nearly 25% of the higher education market in United Kingdom, Hubbub has focused on building a solid base before expanding into the wider nonprofit market. Hubbub is aiming to replicate this market strategy in the United States.
Connecticut is an ideal base for us to build our US presence as it is ranked as one of the top four most innovative states, and is in the US top seven for venture capital funding. With its 42 universities and easy access to the bustling higher education centres of New York and Boston, there is a high density of higher education opportunities, making it the obvious place to be for Hubbub.
This is a big opportunity to leverage what we do and bring the solutions we’re already offering in the United Kingdom to the United States, with a highly credible partner who is invested in our growth and development. As a fast-growing company adding value to an increasing number of clients with high customer success and retention in the United Kingdom, we are planning to make a significant impact on the wider US market.
“We chose to work with Hubbub due to their knowledge and expertise in both crowdfunding and the HE sector. In the early stages of our working partnership, they have been invaluable in providing first class support and guidance.” Mark Parsons, Annual Fund Manager for Open University Development Office
Our next steps include setting up a presence in Connecticut, building a team and discovering new opportunities in the higher education and nonprofit fundraising sector.
Our expansion in the higher education sector in the United States involves further plans regarding the town, the office, our first hires in account management, marketing, and sales.
Crowdfunding in the non-profit sector has boomed in the last year so we are also examining a wider nonprofit focus in the UK to broaden our market.
“Crowdfunding has grown rapidly over the last few years, from less than £267 million being raised through crowdfunding in 2012 to more than £3.2 billion in 2015; that’s a 12 fold increase in 3 years. The majority of this money has been focused on loans and equity investment to small businesses; however, while still relatively small in volume, in 2015 donations-based crowdfunding was the fastest growing of the different crowdfunding models available, growing over 500% since the following year with most of this money going to charity and social projects.” – Jonathan Bone, Quantitative Researcher for Nesta
Our goal is to build a solid base by broadening our focus in schools, institutions, museums, hospitals and other areas that could benefit from our programmes.
Thank you for being part of our journey, can’t wait to share more exciting news with you!
See here if you would like to find out more about Hubbub’s fundraising solutions.