Israeli startup Vee, which has developed an AI-based platform for non-profit management, is helping raise donations for evacuees, Israeli soldiers and others affected by the war in Israel from fellow-Israelis, Jewish communities around the world and Christian communities and others who support Israel.
Vee itself has also announced the completion of a $7 million seed financing round led by TLV Partners. Vee was founded in 2020 by CEO May Piamenta, COO avi Amor, CTO Idan Tubi and VP sales and growth Noam Mendelson. The company has 20 employees, most of them in Ramat Gan as well as in Miami. Vee has more than 100 customers in the US.
Vee is normally focused on the US market, but during the war in Israel the startup has provided its platform free of charge to advocacy and fundraising initiatives. Piamenta, 24, recounts, "When the war broke out, a lot of groups sprung up that needed public diplomacy content in English, so we offered Maggie to help them,"
Maggie is an AI-based digital agent that provides professional digital marketing services. In other words, she works proactively, and does not wait for operating instructions.
For example, Maggie can scan the social networks, and look for content that works well in the field in which the non-profit operates, and stimulates the involvement of Internet users. Maggie produces new content, designs the graphics and posts directly to social networks.
Piamenta explains, "With Maggie, we created over a thousand pieces of informational content in English in one month. In addition, because of our access to donor databases and foundations, we were able to make good connections between army units and private individuals and foundations that we had in the database. In two months, we raised about NIS 2 million to purchase equipment for soldiers, the evacuees and to support families of hostages."
The new capital raised will be used to expand development teams to increase the range of solutions offered by the company to non-profit organizations.
"Even during high school, I was involved in contributing to the community, and even then I led global non-profit projects, in which I managed the operational setup of a US non-profit in 32 countries. After gaining experience in the field, I realized that the need for technological tools was enormous, especially because of the limited budgets and lack of knowhow. I thought it was time for these important organizations to have an easier and clearer way to succeed, which is why we started Vee."
According to Vee data, the non-profit sector in the US has 1.8 million organizations, and $2.9 trillion flowing into it annually but most of it remains outside the AI revolution. A large part of the work processes are carried out by manual methods that require many resources.
Into this vacuum comes Vee's AI agents. In addition to Maggie, Vee's grant tool has been developed to raise grants for non-profit organizations, and according to the company, it already demonstrates figures of identical success as those of human professionals, and at a much lower cost.
Published by Globes, Israel business news - en.globes.co.il - on July 11, 2024.
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