Unlike any other year that we can remember, 2020 gave us so much to reflect and act on at the same time. Throughout this unprecedented time, the North Star for Gravyty has been about being on the right side of history and pushing with all of our might to do the very best work of our lives - and empowering our customers to do the same.
This year, as we visit Gravyty’s annual “Greatest Hits” collection, we considered everything - from the culture that we know about inside our walls, to the amazing partnerships we have with our customers, and even the impact we are working tirelessly to make on the world at large.
We are humbled, honored, and thrilled to bring you Gravyty’s Greatest Hits of 2020.
Gravyty Raises $21 Million Investment From K1
A $21 million dollar investment from K1 Investment Management (K1) allowed us to remain laser-focused on expanding the use of artificial intelligence (AI) to solve the world's biggest challenges through philanthropy. This investment proves that AI in nonprofit technology, specifically for fundraising, is here to stay and will continue to grow throughout the nonprofit world so we can transform how philanthropy impacts humanity.
Back in March, uncertainty was the theme for how to properly fundraise during a pandemic. Should we be soliciting donors? Should we go quiet and wait for this to blow over? What’s the consensus? Gravyty saw an opportunity to bring the fundraising world together and hear from the industry’s top leaders with experience in crisis fundraising. Their consensus was clear -- don’t stop talking to donors. Fundraise. Build community. Check in with your donors. The result? Our Fundraising During A Crisis webinar series saw THOUSANDS of fundraising professionals come together to solve some of philanthropy's most pressing issues.
At Gravyty, we are a small but mighty team working to change the world by developing technology to encourage a culture of philanthropy that supports organizations with world-changing missions. In these times of social evaluation, we want our team’s beliefs to be public and clear.
- We believe Black lives matter.
- We believe every individual deserves to be treated fairly, and with respect and dignity.
- We believe there is no place for racism in our world.
- We believe our rights to free speech are unique and must extend to all.
- We believe our team should represent the world we want to be a part of -- a welcoming, inclusive, and safe collective that actively supports the full spectrum of race, religion, gender, demographics, and more.
We’ll be the first to admit it - we took a day off this year. And it’s something we’re proud of. On November 3rd, 2020, the entire company took the day off to ensure that we could all vote in this historic election. Many of us voted prior to election day, but this decision was more than just symbolic. Election Day is a paid holiday at Gravyty because voting is our civic duty, social responsibility, and right as Americans. We know that high voter turnout results in better advocacy for our communities and the communities that our nonprofit partners serve. We proudly took the day off to ensure that our voices were heard and hope that we inspired others to do the same.
Gravyty Becomes the First Nonprofit Tech AI Company to Pass SOC 2 Certification
As our team continues to break down barriers to become the first mass-market AI company in the Social Good sector, we're committed to transforming the pace at which philanthropic efforts improve our world and our lives through artificial intelligence. True transformation is built on a foundation of trust, and we're proud that our flawless SOC 2 certification means that leading nonprofit organizations can confidently look to Gravyty and AI as they plot their paths forward in this new decade. In order to qualify for SOC 2, Gravyty demonstrated, via an independent third-party audit conducted by Wolf & Company, P.C., that it has controls in place to ensure the security, availability, and processing integrity of users' data. Gravyty passed each section of this audit, which included three rounds of review, with top-level compliance.
Prolific business writer, Tom Davenport, followed one of our users to understand how AI transforms what’s possible in fundraising for his “Future Of Work Now” column. What he found is that a single fundraiser using Gravyty was able to up-level:
- Portfolio size: Gravyty allows him to actively manage a primary portfolio that is 66% larger than before, plus an auxiliary portfolio of 150 prospects, and a travel pool of an additional 840 prospects.
- High impact actions (phone calls and meetings): Had a 37% increase in high impact actions just in the first six months of use. So far in this fiscal year, he's had a 160% increase in high impact actions per month .
- Proposals (major gift asks of $25k or more): In one fiscal year of Gravyty usage, his portfolio alone saw a 175% increase in funded proposals, 540% increase in dollars raised, and 132% increase in average gift amount.
- Return on investment: He has received two gifts this fiscal year, totaling $50,000, from brand new prospects who he wouldn't have had any contact if not for Gravyty. These gifts have already paid for Gravyty's software usage for the entire fundraising team.
2020 has been a tumultuous year for nonprofit data security. As nonprofit organizations become increasingly data-driven, new stories of data breaches pour in every day as millions of donor data records have been compromised already. At Gravyty, we pride ourselves on using the very best technologies available to solve nonprofit organizations’ largest challenges. That’s why we expanded our AI platform to directly address nonprofit donor data security. We released Gravyty Guard to protect the well-intentioned development professionals, who handle sensitive donor data every day, from becoming the source of unintentional and malicious data breaches. A shocking 85% of data breaches are a result of employee mistakes, which could be as small as auto-fill suggesting the wrong email recipient. By focusing on what is known as human layer security, Gravyty Guard protects against the vulnerabilities that will define the next decade in the nonprofit sector.
Since day one of Gravyty, it’s been our intention to spread AI throughout the nonprofit sector to transform philanthropy. That means using AI to fund the next cure, unlock opportunities for aspiring students, empower the most vulnerable, and more. The Gravyty Guarantee exists to de-risk the AI journey for the organizations working to change our world for the better. It’s always been Gravyty’s belief that if fundraisers are able to develop relationships with more donors, they will raise more money. Through the use of AI, we have proven this concept time and time again which gives us the credibility that we can guarantee revenue results. Our solutions empower your fundraisers to double your organization’s annual contract value with Gravyty in the first year, or the second year is free. Put simply, we guarantee two dollars earned for every dollar spent.
The Stanford Social Innovation Review, a publication of social innovation published by the Stanford Center on Philanthropy and Civil Society covering nonprofit management and philanthropy, featured Gravyty as it focused on AI in the nonprofit fundraising industry. The report was written by Allison Fine & Beth Kanter and underwritten by the Gates Foundation, showing that AI for fundraising is being talked about by some of the biggest names in philanthropy. The report examined Gravyty’s work with Cure Alzheimer’s Fund to raise an additional $1.2M through AI and detailed how the nonprofit space is hungry for new technology that transforms our historic benchmarks on donor retention and increased giving.
In July, Gravyty announced a technological breakthrough, integrated productivity tools that trigger fundraiser activities that lead to giving and increasing efficiencies for frontline fundraisers, across the board. These tools give fundraisers an amazing lens into donor engagement through engagement alerts, seamless writebacks, and email analytics. Gravyty's AI is helping fundraisers answer questions like:
- Is this donor or prospect interested in our mission and the organization?
- Did my email to this donor or prospect hit on the right topic?
- Did I make the right ask?
Imagine all the time you can get back when Gravyty automatically logs activities back to your CRM…and that is only the tip of the iceberg.
The AAAC, the Advancement industry’s leading third-party authority on AI for fundraising, issued the 2020 State of AI in Advancement report in December. What they found is now more than any other year, our sector was forced to face the uncomfortable and adapt to ensure future growth. The intersection with AI was inevitable as 82% of advancement professionals believe AI will help solve challenges created by COVID-19 crisis.The 2020 report not only proved that leaders are already adopting AI to solve their largest challenges, it also is an amazing guide that shows three exciting areas where AI is yielding tangible results.
As a company built on fundraising, it’s only appropriate that we end with gratitude and thanks. The work of the frontline fundraiser is often oversimplified and judged simply on the number of dollars that come in the door for program work. However, it’s important that we also consider, especially during these times, frontline fundraisers are uncovering unexpected and new needs, creating new ways to give, checking on the health of donors, and adding a multiplier to their missions. These folks deserve a hero’s round of applause on your next all-hands video conference. Here at Gravyty, we are often reminded just how important the work of frontline fundraisers truly is. We like to remind ourselves of the words of Kevin McDearis, chief products officer at Blackbaud, who said, “Every one-percent improvement in fundraising effectiveness makes $2.8 billion available for frontline program work.” So our message to frontline fundraisers during these trying times: Thank you. Let us know how we can help because your work means more today than ever before.
And Here's What We Accomplished in 2020...
We are looking forward to another great year in 2021 and all that's in store.
In fact, in just two weeks on Thursday, January 14, Gravyty CEO Adam Martel will sit down with best-selling author and Space Philosopher Frank White for a webinar on the amazing parallels between space exploration and AI. Spots are limited for this first-of-its-kind event, so make sure to claim your spot today.