Nonprofit accounting software developer Aplos has raised $4 million in a Series A round of funding from San Joaquin Capital, a new venture capital firm that specializes in financing technology companies in California’s Central Valley.
Founded in 2009, Aplos has grown rapidly since launching its cloud-based accounting software in 2011. After its initial 18 months of operation, the company had 10,000 nonprofits using its software, and passed the 20,000 mark last year. Organizations using Aplos include Kiwanis International and Assemblies of God. Aplos has added new services for small nonprofits, including preparing IRS returns in 2012, donation processing in 2014, and simple donor management in 2015. The company aims to triple in size this year.
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