Gravyty Announces $21 Million Investment from K1 Investment
BOSTON, Jan. 27, 2020 /PRNewswire/ -- K1 Investment Management ("K1"), a leading investment firm focusing on high-growth enterprise software companies, today announced a $21 million investment to Gravyty, a market-defining provider of fundraiser enablement solutions powered by artificial intelligence (AI). K1's investment empowers Gravyty with significant resources 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.
Gravyty provides a suite of SaaS-based fundraiser enablement solutions that empower frontline fundraisers to personalize outreach, build new relationships with prospects, and deepen relationships with donors faster and more efficiently than with traditional methods. By transforming how fundraisers build relationships with top donors, Gravyty customers expand their fundraising workforces without making additional hires, build donor pipeline at scale, inspire giving, and raise revenue on their missions to change our world.
"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," said Adam Martel, CEO, Gravyty. "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."
Gravyty already empowers thousands of frontline fundraisers at leading nonprofits, colleges and universities, hospitals, and healthcare organizations.
"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," said Reed Sheard, Vice President for College Advancement and Chief Information Officer, Westmont College.
"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," said Laurel Lyle, Vice President, Development Operations and Fundraising Programs, Cure Alzheimer's Fund.
"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," said Mike Velcich, Principal at K1. "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."
Gravyty is the social good sector's first and leading provider of fundraiser enablement solutions powered by artificial intelligence (AI). Fundraisers love Gravyty because the platform automates the most time-consuming processes that get in the way of doing the work they love – developing and cultivating relationships with donors. By empowering frontline fundraisers to personalize outreach more efficiently than ever before, build new relationships faster, and deepen existing relationships with donors through automated stewardship, Gravyty transforms what's possible for organizations through fundraising.
Visit www.gravyty.com to explore how Gravyty and AI expand the fundraising workforce without making new hires, build donor pipeline, inspire giving, and raise revenue for organizations on a mission to change our world.
K1 builds category leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since inception of the firm, K1 has partnered with over 110 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Clarizen, ControlUp, Emburse, Granicus, Graduway, IronScales, Jobvite, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit: http://www.k1capital.com or http://www.linkedin.com/company/k1im.
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SOURCE K1 Investment Management