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2yrs ago Private Equity privateequitywire Views: 315

Omaze secures USD85m in Series C funding round

Submitted 17/09/2021 - 9:38am

Omaze, a social impact fundraising platform that offers the chance to win once-in-a-lifetime prizes to support charities around the world, has secured USD85 million in new capital. 

The Series C funding round was led by Louis Bacon’s Moore Strategic Ventures (MSV). FirstMark Capital, Wndrco, Telstra Ventures, Causeway Media Partners, Mockingbird Ventures, BDMI and Pegasus Ventures also joined the round. Notable individual investments also came from longtime partners Bono, Kerry Washington, Tom Brady and Alexis Ohanian. 
 
The company expanded into the UK last year, where it has experienced continuous 30 per cent-plus month-over-month growth for the past year. The company adopted a new model, partnering with talent to promote the chance to win high-value prizes like GBP4 million homes, and using weekly car offerings to drive engagement. Omaze will use these funds to further international expansion by replicating the UK model throughout Europe. 
 
By scaling into new markets and continuing to offer even higher value prizes, the company expects to dramatically increase their impact around the world. Omaze generated over USD150 million in grants to charities in their first nine years, and is projected to generate more than USD300 million in the next two years.
 
“A big part of what drives us at Omaze is fighting inequality of opportunity,” says CEO and Co-Founder Matt Pohlson. “By offering everyone the opportunity to win a USD5 million house or go to space, we can fund the causes creating opportunities for the underserved. This funding empowers us to expand our prizing and donor base internationally. We are excited to work with MSV and our entire group of investors who recognise that the best way to create enduring impact at a global scale, is to build an enduring business at a global scale.”
 
Omaze launched in 2012 and gained notoriety by offering celebrity experiences like the chance to be in a Star Wars movie or win a Lamborghini and have Pope Francis hand you the keys. Most recently, it partnered with Richard Branson to offer people around the world the chance to go to space. It expanded its offerings to also include one-of-a-kind cars and travel experiences starting in 2019, which has led to three consecutive years of over 100 per cent growth. 
  
“Omaze’s innovative approach is revolutionising the fundraising industry at a time when charities need help the most,” says James McIntyre, Senior Managing Director and COO of Moore Strategic Ventures. “Their trusted brand, global community, and superior platform have not only created a scaled and fast-growing business, but have positioned Omaze to one day be among the world’s top sources of charitable funds.” 

McIntyre will also be joining Omaze’s board of directors.

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