Kintera Gets Private Placement

San Diego-based Kintera announced this morning that it has entered into an agreement to raise $17.5M in a private placement related to its acquisition of Intuit's financial management unit for nonprofits. The company said that the private placement would be used to replenish funds used to acquire Intuit's American Fundware unit. Kintera had announced earlier this month that it would pay $11M in cash for the company. Kintera provides an online service for nonprofit organizations to manage their fundraising and operations.