SocialTransactions was founded by a team of nonprofit industry veterans and technology entrepreneurs, including the management firm of Schaffer&Combs, in order to help fundraising professionals easily access new sources of revenue. The company's first product, named "STRX" during its beta stage, is currently in testing with a few dozen nonprofit organizations, with wider release scheduled for the 2012 holiday season.
STRX uses browser technology to pay a fundraising organization a commission every time its supporters buy something online. There are two aspects of STRX: one for end users, and one for fundraising organizations. For end users, STRX is a free browser application that works automatically and invisibly anywhere they shop on the web. For fundraising organizations, STRX is a free web service that makes it easy for them to deploy the browser application to all their supporters by email or the social web.