Dallas-based investment firm Cypress Growth Capital has begun distributing funds from its latest and largest funding round. The first company to receive funding is Dallas-based Vision2 Systems, which received $2.8 million in a non-dilutive deal.
Vision2 facilitates donations to churches while also increasing community engagement. Churches of any size can sign up for Vision2’s online platform in order to receive donations from individuals. People looking to make a donation can also use the online platform to find a specific congregation and make a donation through the site or by text message in what the company calls “frictionless giving solutions.”
With the new investment, Vision2 will begin raising awareness for their services and products while also enhancing the customer experience, according to Dallas Innovates.
Cypress was founded in 2010 and has a diverse portfolio of companies. The VC firm has helped fund Geoforce, Thermi, epaCube and Altitude Digital, among others. Cypress funds royalty-based capital investments as opposed to equity deals, in which the company receiving funds offers a percentage of ownership to the investment firm.
According to Cypress’ website, the firm is looking to invest predominantly in tech and software companies headquartered in the United States with annual revenues between $3 million and $30 million. Cypress raised its largest round in May totaling $50 million.