Helsing vs Blackbaud
Side-by-side comparison of AI visibility scores, market position, and capabilities
Europe's leading defense AI company. 12B EUR valuation. HX-2 drones to Ukraine. CA-1 autonomous combat aircraft. 1.37B EUR raised. Founded 2021, Munich.
About
Helsing is a European defense AI company founded March 2021 by Torsten Reil, Gundbert Scherf (ex-German MoD), and Niklas Kohler, headquartered in Munich with subsidiaries in Estonia, France, and UK. Raised 1.37B EUR including 600M EUR Series D (June 2025, Daniel Ek's Prima Materia) at 12B EUR valuation.
Nonprofit cloud software suite for fundraising, financial management, and grantmaking. Charleston SC. Publicly traded (BLKB). Serves 45,000+ organizations.
About
Blackbaud is the leading cloud software company serving the nonprofit, education, and social good sectors. Headquartered in Charleston, South Carolina, and publicly traded on NASDAQ under the ticker BLKB, Blackbaud's portfolio spans fundraising CRM (Raiser's Edge NXT), financial management (Financial Edge NXT), grant management, education administration, and constituent engagement tools. The company serves approximately 45,000 organizations in 100+ countries, making it the dominant incumbent in enterprise nonprofit software.\n\nBlackbaud's flagship products have historically been the de facto standard for large nonprofits, universities, and healthcare foundations. The company has steadily migrated its product portfolio from on-premise systems to its Blackbaud SKY cloud platform, which underpins modern APIs and mobile-responsive interfaces. Its acquisition strategy has brought in ticketing (Altru), online giving (Luminate Online), and K-12 administration (Blackbaud Education Management) capabilities.\n\nAs a public company with hundreds of millions in annual recurring revenue, Blackbaud occupies a unique position in the nonprofit software market — it is large enough to serve the most complex enterprise requirements but faces growing competition from modern cloud-native challengers like Bloomerang and Bonterra targeting its mid-market flank. The company's scale, compliance certifications, and integrations with major financial and advancement platforms remain its core moats.
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