Excelerate Based Social Venture Raises 500K

I learned about Excelerate Labs, an accelerator in Chicago, while cruising the Polsky Center for Entrepreneurship website (Booth School of Business). According to Techcrunch, one of their firms just took in a round of financing. GiveForward was launched by Desiree Vargas Wrigley and Ethan Austin. From Leena Rao at Techcrunch:

GiveForward, an online fundraising tool for medical expenses, has raised $500,000 in funding from Tim Krauskopf, New World Ventures, David Cohen, Ed Chandler, Social Leverage and Excelerate Labs.

GiveForward, which was incubated in Chicago’s Excelerate Labs, wants to become the Kickstarter for medical expenses. The platform allows anyone to create customizable fundraising pages where friends and family from across the world can donate online.

To make money, GiveForward deducts 7 percent of all donations. Since 2008, 10,000 users have joined GiveForward with the startup helping families raise nearly $3.5 million for their loved ones’ out-of-pocket medical expenses. GiveForward also gives users tips on fundraising, allows them to socialize their pages on Facebook and Twitter and more.

According to the GiveForward website, nearly $3.5 million has been raised for the medical expenses and other causes.

GiveForward Raises $500K To Be The Kickstarter For Medical Expenses.

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