Social impact management platform Submittable announced today it has raised $47 million in Series C funding led by technology-focused investment firm Accel-KKR. Proceeds from the financing will be used to expand the company’s products and address the evolution of corporate social responsibility and other social good programs.

Founded in 2010, Submittable is used by corporations, governments and philanthropic organizations to manage social good programs and maximize their impact. Clients can manage grants for social justice and sustainability, corporate giving to support communities, scholarships, fellowships and awards, as well as creative projects to empower positive change.

Joe Porten, Managing Director at Accel-KKR, said:

“Submittable provides top-rated technology that enables organizations to be both highly efficient and effective in their social impact work, and is powered by a mission-driven company culture passionate about making a difference in the world. The combination is powerful, and we are excited to back the company’s vision to lead in its industry.”

According to Submittable, the social impact sector has experienced unprecedented growth in recent years, as public, private and nonprofit organizations increased funding and initiatives to respond to crisis in demand. In 2020, for example, 68% of companies accelerated spending on community investment and 93% allocated more resources for diversity, equity and inclusion (DEI).

The new funding will enable the company to continue the expansion of its products and features to address the rapid evolution of these programs, especially corporate social responsibility while expanding its team and platform to match demand.

Thor Culverhouse, Submittable CEO, said:

“There is a major shift happening in how the world thinks about social impact, as organizations big and small reshape programs in real-time to address global change. Social responsibility is now table stakes, and we are privileged to grow and evolve alongside these organizations in transforming the process of making an impact. This funding is central to our ongoing efforts to expand our product and team to better help our customers make that difference.”

The Series C round was also supported by existing investors, including Next Coast Ventures, True Ventures, Next Frontier Capital, StepStone Group, and Flywheel Ventures.