BLACKBAUD Business Summary

Blackbaud Inc. (BLKB) operates a high-margin, recurring revenue model primarily driven by cloud-based software-as-a-service (SaaS) subscriptions and transaction-based payment processing fees, which together account for approximately 98.5% of total revenue as of early 2026. The company’s business is organized into specialized segments including Fundraising and Engagement (anchored by the flagship Raiser’s Edge NXT), Financial Management (Financial Edge NXT), Education Solutions for K-12 institutions, and Grant and Award Management. Blackbaud competes directly with Salesforce (Nonprofit Cloud), Bonterra, and Neon One, positioning itself as the dominant, purpose-built incumbent that offers a more vertically integrated and comprehensive ecosystem for the "social good" sector than generalist CRM providers or smaller niche competitors. Founded in 1981 by Anthony Bakker, a former banker who developed the company’s initial billing software for private schools, Blackbaud is currently led by President and CEO Mike Gianoni, a seasoned IT executive who previously served as Executive Vice President at Fiserv. The leadership team includes Executive VP and CFO Chad Anderson, who was promoted in April 2025 following a tenure as Chief Accounting Officer and a prior career at Ingram Micro, and CTO Kevin McDearis, a payments pioneer and former CIO of Manhattan Associates. The company’s strategic direction is supported by a board chaired by Andrew Leitch and significant institutional backing from major investors including Clearlake Capital Group, The Vanguard Group, and BlackRock.