KarmaSuite
“Can a lightweight workflow layer on top of nonprofit general ledgers become the system of record for restricted-fund management?”
HQSan Francisco, California, United States
FoundersSrikar Chinam
Total raised$4.5M
Latest roundSeed, $3.5M (led by Urban Innovation Fund)
IndustryVertical SaaS / Nonprofit
The story
KarmaSuite is an early-stage vertical SaaS company (~10 employees) focused on restricted fund and grant management for nonprofits. It sits on top of the customer's existing general ledger rather than replacing it — positioning as a workflow layer for grants tracking, expense allocation, and impact reporting. Backed by Urban Innovation Fund and Fractal, with distribution partnerships through Blackbaud and NGMA. No embedded finance product footprint: KarmaSuite does not move money, issue cards, or lend. Their financial-adjacent story is entirely on the accounting-connector side.
Product timeline
2023
Privacy Policy and Terms of Service published (April 2023), indicating product launch window· launch
2024
Presented at AICPA & CIMA Not-for-Profit Industry Conference; joined Blackbaud Social Good Startup Program; listed as NGMA partner· partnership
The stack
1 layer disclosed in KarmaSuite’s embedded-finance stack
Accounting
Accounting gap: none