Vee Leading a Change in Corporate Volunteering with $12M in Fresh Funding
Corporate social responsibility has become a central pillar of many businesses. CSR used to be viewed merely as a tool to improve brand image. However, changing consumer attitudes towards social responsibility have pushed companies to prioritize their efforts to give back to the community.
Amid this change, a wave of innovative companies has sprung, promising to simplify the act of giving for corporations. These platforms help corporations simplify volunteering and giving back to their communities and have arrived at the right time.
Leading this wave of corporate volunteering platforms is Tel Aviv-based startup Vee. Founded in 2020, the platform recently raised $12 million in a seed round led by State of Mind Ventures, with noted Israeli VCs Oryzn Capital, Vertex, and Viola Ventures. Well-known angel investors Eynat Guez of Papaya Global, Amir Shevat of Innovation Endeavors, Gil Hirsch of StreamElements, Guy Shamir of Mivtach Shamir, and Joey Low also took part in the recent round.
Bridging the Volunteering Gap
Vee has set out to solve a common challenge in the volunteering space. Nonprofits often lack the resources to publicize and attract volunteers to their events. In turn, volunteers struggle to find events in line with causes that appeal to them. This gap often leads to many nonprofits running understaffed, in what is already an undercapitalized sector.
Vee bridges this gap between nonprofits and corporate teams seeking to give back. The opportunities on the platform range from food aid, animal welfare, youth mentoring, and environmental initiatives. From a corporate standpoint, Vee simplifies event scheduling for HR teams looking to give back to the community.
The result is a stronger sense of social responsibility within companies, and more aid for nonprofits seeking help. Currently, Vee boasts over 500 teams and organizations on its platforms. Notable corporations include eBay, Booking.com, Salesforce, and Columbia University. Vee is present in 10 countries and is experiencing exponential growth in terms of activities added weekly.
“We built Vee to give everybody around the world a better way to make a social impact,” said May Piamenta, the 22-year-old Co-Founder and CEO of Vee. “I am excited to see how Vee becomes far more than a product but a global movement of people who want to pay it forward. Teams and organizations of all shapes, sizes, and industries are invited to join our revolution.”
Using Technology to Power Volunteering
Piamenta, the mastermind behind Vee, has extensive experience in the social responsibility field. Hailing from Dimona, a small town in southern Israel, she has led global nonprofit projects. Her experience in the sector caused her to realize that traditional management tools were heavy, unscalable, and do not lend themselves well to community management.
As a result, Vee makes it easy for anyone to create and join a social project within minutes. Team members can share their experiences and bond with each other on the platform, thus promoting a sense of satisfaction and achievement. User experience is one of Vee’s top priorities, and everything from the design to ease of use entices people to return.
As with most technological solutions these days, Vee uses automation to bring greater efficiency. The platform automates up to 80% of tasks that are traditionally executed manually. Everything from project discovery, tracking, and administration is automated. Thus, Vee users spend more time executing impactful work and less time coordinating tasks.
The latest funding round allows Vee to take its platform to the next level. “This funding round takes Vee to an entirely new level, and the best thing is that we’re just getting started,” says Piamenta. “It’s only a matter of time until Vee will be the benchmark of social good for every company, university, city, and every person, everywhere.”
Assisted by COO Avi Amor and CTO Gil Amsalem, Piamenta is deservedly optimistic about her company’s future. Yuval Baharav, General Partner of State of Mind Ventures, shares her optimism. “I am very excited to have SOMV join the Vee family. For me, this investment is very special as it combines the opportunity to work with a young, bright, super-talented, and ambitious team of founders with the vision of building a company that will not only be a commercial success but also becomes a force for good in the world.”