What is FreeWill?
FreeWill is an award-winning social venture that originated from graduate students at Stanford University in 2017. It was founded with the support of leading experts in law, design, and philanthropy. The company operates within the social impact sector, aiming to leverage technology and innovative approaches to drive philanthropic engagement and support for non-profit organizations. Its mission is to make charitable giving more accessible and effective, thereby amplifying the impact of social ventures.
How much funding has FreeWill raised?
FreeWill has raised a total of $30.4M across 2 funding rounds:
Debt
$350K
Series B
$30M
Debt (2020): $350K with participation from PPP
Series B (2022): $30M led by DOUBLE IMPACT
Key Investors in FreeWill
DOUBLE IMPACT
Bain Capital Double Impact focuses on investing in businesses that create positive social and environmental outcomes while delivering competitive financial returns. They engage actively with mission-driven companies, emphasizing operational excellence to enhance both impact and profitability. Their investment strategy targets sectors such as Health & Wellness, Education & Workforce Development, and Climate & Sustainability. The firm combines deep industry expertise with a commitment to driving lasting change for companies, employees, communities, and the environment.
PPP
Public-Private Partnership
What's next for FreeWill?
The recent major strategic investment indicates FreeWill is likely in a scaling phase, moving beyond its initial development stages. This capital will likely be deployed to enhance its platform, expand its reach to more non-profits and donors, and potentially explore new service offerings. The company's focus on social ventures and its Stanford origins suggest a strong foundation for continued innovation and impact in the philanthropic technology space. Future growth may involve strategic partnerships and broader market penetration.
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