Altvia founder Kevin Kelly.
Since 2006, Altvia – a Pledge 1% Colorado company founded by Kevin Kelly – has established itself as a market-leading provider for CRM and investor and deal management systems specifically designed for Private Capital Market firms. Specifically, Altvia products translate data into intelligence ensuring compliance, workflow management, and a trusted and transparent experience to global stakeholders.
In 2007, Kevin attended Salesforce's Dreamforce, the largest software conference in the world, prioritizing corporate philanthropy. Another year later, his engagement with Techstars led him to the Entrepreneurs Foundation of Colorado – an initiative of your Community Foundation, which has since been re-branded as Pledge 1% Colorado.
"I was inspired," recalls Kevin, who went on to formally pledge 1% of future profits to local communities. "The Pledge 1% movement catalyzes startup philanthropy and aligns with Altvia’s purpose to be a source of energy, inspiration, and abundance for our employees, clients, and partners – as well as the communities we live in."
So last month, when Altvia publicly announced a majority recapitalization, the Community Foundation was an obvious fit to establish the Altvia Abundance Foundation, a Donor-Advised Fund.
"The recapitalization triggered the phantom equity plan we’d put in place more than five years ago," explains Kevin. "For us to have a liquidity event benefitting all our employees was super exciting, and the Altvia Abundance Foundation is a vehicle for us to go beyond benefitting our employees to benefitting communities through grants based on employee input and contributions.
"We ended up matching two dollars for every dollar that employees committed through the Donor-Advised Fund."
About 25% of cash proceeds from the recapitalization went directly to employees; additionally, the Altvia fund has supported some 50 employee-selected organizations … and counting.
Concludes Kevin. "It's all closely aligned with what we’ve always espoused as a mission-driven company. To reach this point of recapitalizing feels very cool, very fulfilling.
"I have three kids, and – for much of their lives – the only thing they've known is my working toward this milestone. My wife was very involved in the business, too. It feels incredible to reach this point, and for my now college-age, socially concerned kids to see how all the blood, sweat, and tears led to this.
"I feel so grateful to have achieved this rewarding milestone as a family. They've had front-row seats to this."
Kevin remains committed to increasing the visibility of everyday, early-stage entrepreneurs, and encouraging them to "bake in" a pledge to leverage a portion of their future success to support the greater good.