Online platform of Newport Beach’s Givsum now offers silent auctions

Newport Beach-based Givsum said its philanthropy-focused online platform is launching a “highly requested” new feature this month: silent auctions, a fundraising tool for nonprofits.

Developed in UCI’s Wayfinder program in 2013, Givsum stands for “giving summary.” It provides an all-in-one platform for the operations of clubs and charitable organizations, including donations, volunteer hours, and ticketing.

“People are doing philanthropy in every town—and they are using bad tools,” co-founder and Chief Executive

Shawn Wehan told the Business Journal. “We’re providing a better solution at an operational level.”

Its client portfolio includes the ocean conservation organization Oceana and the Freedom Ride

Project, a charity seeking to stop human trafficking. Most recently, Rotary Clubs all over the U.S. have purchased subscriptions to its service, Wehan said.

Earlier this month, Givsum also opened a seed round for $2 million led by its VC firm SteelBridge Labs of Pittsburg, which opened it at $500,000, Wehan said.

According to Wehan, Givsum’s current seed round is critical for it to achieve “exponential growth mode” and a Series A round next winter. The Series A will support the development of a “solid product market fit,” placing it in a “much bigger product main space.”