27 January 2020:
Gravyty has raised $21 million funding from K1 Investment Management.The company will use the fresh capital to continue its aggressive growth in bringing AI-assisted fundraiser enablement to the social good sector which includes higher education institutions, nonprofits, healthcare organizations and hospitals.
Adam Martel, CEO, Gravyty, said, “I’m excited for this next step in Gravyty’s journey as we expand the use of artificial intelligence to solve the world’s biggest challenges through philanthropy.”
Adam Martel, added, “As the first company focused solely on building tools to empower the fundraising operations, Gravyty has unlocked efficiencies and results that are orders of magnitude beyond what was previously possible. K1 has unparalleled experience in assisting innovative software companies such as ours scale through its operational support, and we couldn’t be more excited to partner with their team to make AI accessible to all nonprofit organizations.”
Mike Velcich, Principal at K1, said, “We are honored that Adam, Rich and the Gravyty team chose K1 as their preferred investment partner, and look forward to supporting them as they cement their position as the market leader in fundraiser enablement. The direct return on investment that Gravyty’s platform provides by increasing the quantity and quality of donor relationships has clearly resonated with its customers.”
Reed Sheard, Vice President for College Advancement and Chief Information Officer, Westmont College, said, “Higher Education is going to change more in the next ten years than it has in the past 100. I believe this means that our sector’s best days lie ahead as we learn to leverage disruptive technologies. Gravyty is already transforming how fundraising can work by leveraging artificial intelligence and machine learning, and those results allow us to fund student success, leading research, and more at Westmont College.”
Laurel Lyle, Vice President, Development Operations and Fundraising Programs, Cure Alzheimer’s Fund, said, “For 15 years, Cure Alzheimer’s Fund has provided research grants to the world’s leading scientists who are working to understand the disease and find effective treatments. Gravyty and artificial intelligence empower our fundraisers to achieve high-volume and personal outreach as we strive to establish multiple touchpoints with our ever-growing donor pool. Not only are we talking to more people because of Gravyty, we’re also inspiring giving that will lead to a cure.”
(Image – Gravyty)