Gravyty Receives $21 Million Investment From K1 Investment Management
K1 Investment Management, a leading investment firm focusing on high-growth enterprise software companies, today announced a $21 million investment in 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, health care organizations and hospitals.
“I’m excited for this next step in Gravyty’s journey as we expand the use of AI to solve the world’s biggest challenges through philanthropy,” said Adam Martel, CEO, Gravyty. “As the first company focused solely on building AI tools to empower 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.”
“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 AI empower our fundraisers to achieve high-volume and personal outreach as we strive to establish multiple touch points 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, VP, 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.”
Editor's Note: This press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of NonProfit PRO and its staff.