Gravyty Technologies, a Boston, MA-based provider of AI-enabled fundraising software, completed its $2m second round of funding.
The round was led by NXT Ventures and Launchpad Venture Group with participation from John Huysmans, Stage 1 Ventures, and The Venture Capital Fund of New England.
The company intends to use the funds to expand customer success and marketing teams, accelerate the development of its suite of AI products, and improve the core technology.
Founded in 2016 at Babson College by Adam Martel, CEO, and and Rich Palmer, CTO, Gravyty leverages artificial intelligence and machine learning to automate processes for frontline fundraisers, build lasting donor relationships and raise more revenue for their missions.
First Draft, the company’s flagship product, delivers to fundraisers draft emails for their most important major and mid-level prospective donors throughout the year. Written using artificial intelligence, these emails can then be be edited and personalized instantly. By utilizing advanced machine learning techniques, First Draft learns from the user’s edits and refines its understanding of the fundraiser’s writing style and relationships with individual donors.