Video-based charitable giving platform DonorSee is seeking some donations of its own with a new crowdfunding campaign launched this week, officials told Technical.ly.
DonorSee is a Falls Church, Virginia-based startup that offers a crowdfunding portal for international aid that operates in 38 countries. Donors can connect with people in need and grassroots nonprofits, as well as receive a video update later on that details the impact of their donation. Donors can choose between projects or sign up for a subscription model.
Through WeFunder, DonorSee is raising $800,000 of a $1.5 million round ($225,000 was already raised pre-launch) in a 90-day campaign, said Owen O’Doherty. O’Doherty took over from founder Gret Glyer, who was killed in June of this year.
“We believe equity crowdfunding as a way to allow a community to invest,” O’Doherty said. “Enabling the democratization of investment in a platform is a natural fit with what we do, and with our mission. We want as many people as possible to have the opportunity to own a piece of DonorSee, engage and help grow the DonorSee mission, and benefit from our growth.”
With the funds, it plans to add 400 “humanitarian partners” worldwide, invest and onboard new staff, develop the platform with new features, upgrade user experience components and grow its donor base from 10,000 to 50,000.
Specifically, he said that the company is looking to use AI and machine learning to better match the interests of donors with projects and people around the world. It is also looking to create a new mobile experience for donating.
“We have a great product that people love,” O’Doherty said. “We want to invest in innovation and iteration to make it even better.”
Since its launch in 2016, DonorSee has grown around the idea of circumventing traditional international aid options (though it did have a conflict with the Peace Corps in 2017). Over the past three years, it said revenue has grown 4x and transaction volume at 3.5x. To date, $5.5 million has been donated via its platform, and it has a 98% retention rate for active community members. It also works with over 100 partner organizations with a 93% retention rate, according to DonorSee.
“This will drive growth in the number of people joining DonorSee, and extend the mission of the company around the world,” O’Doherty said. “It will allow us to invest in creating an even better user experience too. It will take DonorSee to the next level.”