Gravyty, a Boston-based provider of fundraising software to organizations including higher education institutions, has raised $21 million in funds from K1 Investment Management, a Manhattan Beach, Calif-based investment firm.
Founded in 2016, Gravyty plans to use the money to accelerate product development and sales strategies, according to a statement issued Monday. University clients include Northern Kentucky University, the College of Charleston and Arkansas State University. The company also sells to nonprofits, health care organizations and hospitals. Its services include automated email drafts for donors, weekly action plans and travel recommendations based on top donors’ locations.
This isn’t K1’s first edtech-related investment. The firm previously invested in Graduway, a London-based company that makes alumni engagement and career-services management software for educational institutions and nonprofits.
