GiveForward, an online fundraising tool for medical expenses, has raised $500,000 in funding from Tim Krauskopf, New World Ventures, David Cohen, Ed Chandler, Social Leverage and Excelerate Labs.
GiveForward, which was incubated in Chicago’s Excelerate Labs, wants to become the Kickstarter for medical expenses. The platform allows anyone to create customizable fundraising pages where friends and family from across the world can donate online.
To make money, GiveForward deducts 7 percent of all donations. Since 2008, 10,000 users have joined GiveForward with the startup helping families raise nearly $3.5 million for their loved ones’ out-of-pocket medical expenses. GiveForward also gives users tips on fundraising, allows them to socialize their pages on Facebook and Twitter and more.