Parvenu
About this raise
Parvenu combines raising money for charity with artificial intelligence (AI). Actually, to be specific, Parvenu raises money for charity through AI. Their system personalizes charity suggestions through retail checkouts based on what the consumer is buying. If you’re buying dog food, their system will ask if you want to donate to an animal shelter, or if you’re refilling a prescription, Parvenu will ask you to donate to medical research. The personalized engagement boosts engagement, and so far, their technology tripled the donation rate from 8% to 25% in beta tests across five stores. Their technology is proprietary under a provisional patent, and they’re team has been notably and significantly successful in past startup and fundraising endeavors.
Investment Overview
Invested : $137,039
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 07/19/2018
- Close Date
- 02/28/2019
$76,000
$1,070,000
$100
SAFE
Early Stage
RegCF
$4,000,000
10%
Company & Team
Company
- Year Founded
- 2017
- Industry
- Financial & Insurance Products & Services
- Tech Sector
- Distribution Model
- B2B
- Margin
- Capital Intensity
- Location
- Washinton, District of Columbia
- Company Website
-
Visit Website
Team
- Employees
- 2
Financials
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 02/28/2019 | Wefunder | $4,000,000 | $137,039 | SAFE | Funded | RegCF |
Founder Interview
Founder Profile: Donations Made Easy With Johnny Li, Co-Founder And COO of Parvenu
As of August 28th, Parvenu had raised $61.3K of the current roundWhen you go shopping at the grocery store, it is likely that you have experienced more than once being asked to donate to a charity that the store has decided to partner with. In fact over $400M a year is donated through programs just like that, which is terrific.
However, the reality is often times you may not even know what the charity is or you may reserve your dollars for investing in causes that matter most to you. Parvenu wants to create a new way to offer giving programs to users when they are shopping that takes into consideration the causes you might care about.
By personalizing the point of sale donation options, Parvenu has showed early signs of being able to more than triple the number of donations given by customers. The opportunity to transform and optimize point of sale donation programs is bigger than you might even realize.