This week on The Exit: Adam sits down with us to share his journey of exiting when the offer was too good to refuse. After a varied career from volleyball coach to starting an MBA, Adam eventually ended up in Major Gifts Fundraising, where he came up with the business Gavyty, an artificial intelligence company developing productivity and data security for fundraisers. Adam quickly realized users weren’t engaging with his product as he expected, but with a small nuanced shift to focus on email usage, customers quickly began using the product regularly and the business grew to generating over $1M in revenue quarterly. In 2019, exit conversations started but the board was pushing to scale more. With three PE firms vying to acquire the business it was only a matter of time before one made an offer too good to resist. Listen to find out how the acquisition went, and Adam’s tips on when is the right time to exit.
Adam Martel is currently the CEO and Founder of Givzey. Givzey is the first AI-enabled fintech company specifically developed for the social good sector with a focus on providing donors flexible giving options and enabling nonprofit organizations easier and quicker access to capital to accelerate their world-changing missions. Before Givzey, Adam was the CEO and Founder of Gravyty until December 2021. Gravyty is a Boston-based artificial intelligence company developing productivity and data security tools to revolutionize frontline fundraising and protect donor data at nonprofit organizations.