NEW AI PLATFORM FOR NONPROFITS TO IMPROVE FUNDRAISING RAISES $1.5M IN PRE-SEED FUNDING
Hatch.ai has developed a platform for nonprofit organizations that leverages ethical AI to enrich donor data and predict individuals' giving with funding from prominent angel investors.
NEW YORK, July 20, 2022 /PRNewswire/ -- The company has developed an "Altruistic Intelligence"TM platform that leverages AI to make nonprofit fundraising efforts more effective. Using a combination of data-enrichment, machine learning, and AI predictive modeling, Hatch aims to make a significant impact in the giving space.
Hatch is the brainchild of Moshe Hecht, former co-owner and CIO of charidy.com, the fundraising platform that has raised $2B+ for charities since 2013. He is joined by CTO and co-founder Eyal Beigman, PhD. In his 7 years of leadership at charidy.com, Hecht discovered that most organizations spend 90% of their time engaging just 10% of their donors. The overwhelming majority of people have been overlooked, at best relegated to receiving mass email blasts (often driving them to unsubscribe).
"It's not just about identifying the rich people anymore," says Moshe Hecht, CEO. "We're moving into a new era of giving, where philanthropy is being driven by the collective power of the many rather than the exclusive power of the few."
Hatch solves this problem by unlocking what makes people "tick, click and give." The result is thriving engagement across a larger donor base. Hatch's platform generates a holistic profile of every donor. In doing so, it can help organizations better identify the people most likely to engage with them, using predictive modeling to forecast greater opportunities for impact. As Beigman explains, "Hatch makes data accessible and easy to use even for a volunteer."
Hatch has raised a $1.5M Pre-Seed round from a group of prominent angel investors and tech leaders, including computer scientist and philanthropist David Magerman. Other key investors include renowned venture capitalist and philanthropist Howard L. Morgan, Tiferes Ventures (Clark Valberg of InVision), Avi Geller (Leonite Capital), Daniel Cotlar, Jonathan Zauderer, Mallion Holdings LLC (Esriel Rappaport), Rochel Leah Bernstein, Levy Lieberman, Meir Gniwisch (Olive Tree Ventures) , Israel Schachter (Charity Bids), and others.
"As an investor, I'm excited to see the impact Hatch is going to have on the nonprofit world," Magerman shares. "It's going to be like nothing we've ever seen before."
Hatch is actively recruiting 100 organizations from across the nonprofit sector to join its beta cohort. Visit hatch.ai to apply.
SOURCE HATCH
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