Summit Partners has invested $55 million in Instrumentl to enhance its AI-driven grant solution for nonprofits and universities amid increasing funding challenges.

Target Information

Instrumentl, located in Oakland, CA, is a pioneering provider of an intelligent full-lifecycle grant solution tailored specifically for nonprofits and universities. Established in 2015, the company has gained significant traction, boasting over 4,500 customers who leverage its platform to streamline the process of discovering and managing grant opportunities. Instrumentl has facilitated more than $1 billion in grant funding and oversees upwards of $6 billion in managed grants, presenting a crucial resource for organizations in a highly competitive funding landscape.

The company has developed a comprehensive platform that combines AI technology with grant management tools that enable users to find grants, write applications, manage work, and report on outcomes, all in one unified space. This all-encompassing solution addresses the complexities and inefficiencies that nonprofits face when seeking funding in an evolving financial climate.

Industry Overview

The nonprofit sector in the United States has been facing increasing challenges due to significant scrutiny of federal funding policies, resulting in a climate of uncertainty for organizations reliant on such resources. Many nonprofits, along with universitie