Hatch, a New York City-based company offering an AI-powered portal for fundraisers, has secured $3 million in seed funding. This fresh injection of capital was led by Differential Ventures, a venture capital firm focused on AI, along with investments from Character, Howard Morgan, and other backers.
While AI typically stands for artificial intelligence, the team at Hatch has coined the term “Altruistic Intelligence” as an additional meaning. Hatch’s suite of products provides nonprofit fundraising professionals with insights into individual donors, and the Altruistic Intelligence capabilities recommend personalized strategies for engaging and soliciting these donors. The AI enables nonprofits to identify potential funders most likely to align with the organization’s mission, rather than relying solely on wealth-based metrics.
Prior to this seed round, Hatch had announced $1.5 million in pre-seed funding in July 2022 from computer scientist and philanthropist David Magerman, as well as other investors including CharityBids Founder and CEO Israel Schachter and InVision co-founder Cark Valberg. In total, the company had raised $2 million before securing the recent $3 million.
“With this new funding, we’re all set to accelerate user growth and further develop cutting-edge tools for the nonprofit sector―like our new Hatch certification program,” company officials stated, announcing the latest funding round. The certification program, designed to train power users on the software, has not yet launched.
Hatch is led by Founder and CEO Moshe Hecht, formerly the co-owner and CIO of charidy.com, along with Chief Technology Officer and Co-Founder Eyal Beigman.
“It’s not just about identifying the rich people anymore,” Hecht said in a statement accompanying the July 2022 funding round. “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.”
Organizations either currently utilizing or having previously used Hatch include the American Committee for Shaare Zedek Medical Center in Jerusalem, Elevate Branson, Friendship Circle, Touro University, Tuesday’s Child, Volunteers of America, and over 150 others.
