Minnesota SaaS Startup Boosts University Fundraising by the Millions – Local Startup Spotlight #18: Reeher
Reeher is a software service designed to help universities improve their fundraising efforts. At its core, Reeher’s proven predictive modeling process will forecast the likelihood that a potential constituent will donate and it can projects the dollar amount of the gift. As an extension, the technology functions as a marketing platform to strategically target prospective alumni and gift officers.
Whether for recurring annual campaigns or single instance major donations, the Reeher value proposition is simple and constant: raise more funds and spend less doing it. At a time when colleges and universities across the country are taking long hard looks at systemic cost cutting, Reeher is uniquely positioned to capitalize on a massive opportunity. The initial results are impressive; in one instance, Reeher’s customer increased their fundraising income over 500% within 24 months. In another example, a public research facility attributed 15% of their annual raise (80mm-100mm) to the adoption of Reeher.
Within the 2 years of Reeher’s existence, the company has obtained several high-profile clients, including: Carnegie Mellon University, Johns Hopkins, Duke, Tulane and Minnesota’s own Hamline University. Fittingly, the company has also raised multiple rounds of capital as it scales operations.
The product is priced on an annual basis as determined by the total number of alumni within a given university’s network. On average, the cost to implement Reeher ranges between $50,000-$150,000.
Andy Reeher, Founder, President & CEO – was initially engaged in a consulting project amongst Ivy League Institutions when his curiosity led him to explore the challenges and opportunities within university fundraising environments. Over time, he successfully made the transition from the corporate world (Deluxe) to the consulting realm and eventually into full-blown startup mode. He describes the journey as “life changing”.