Community Brands, the leading provider of cloud-based software and payment solutions for associations, nonprofits, and schools, announced on Friday that it had signed a definitive agreement for Reverence Capital Partners, a New York-based investment firm, to make a majority investment in Knoxville-headquartered Ministry Brands.
As part of the transaction, Ministry Brands becomes a separate standalone company, with material rollover investment from former parent, Community Brands. The two companies will operate independently providing more focused investment for each business’ respective customers, employees, and stakeholders. Additional details of the transaction were not disclosed.
Founded by Ross Croley of Greater Sum Ventures, Ministry Brands has evolved from a point solution provider of church websites and digital donations in 2012 to an end-to-end ecosystem of leading integrated solutions serving more than 95,000 faith-based organizations. Its suite of software solutions includes church management, online giving, financial accounting, digital engagement, and background screenings.
According to the announcement, Ministry Brands will continue to focus on its vision to improve the way churches and ministries operate, communicate, and engage by providing transformative technology solutions that enable growth and success in the digital age.