deed Raises $10M to Revolutionize Workplace Giving

Deed Secures $10 Million Series A Funding to Enhance Employee Giving Programs

As previously discussed earlier this year, Deed is dedicated to improving employee giving, charitable giving, and volunteer programs within large organizations. The company aims to provide a centralized and effective platform for these initiatives.

Their approach involves creating a dedicated space—featuring a contemporary user interface—complete with integrated community management features and seamless workflow integration, specifically with platforms like Slack, to ensure consistent engagement.

Rapid Adoption and Key Investors

Deed quickly gained traction, attracting notable clients such as Airbnb, Stripe, Box, and Adidas shortly after its initial launch. This success has now been bolstered by a $10 million Series A funding round.

A recent conversation with Deed co-founder Deevee Kashi revealed details about this new investment. Kashi took time from a speaking engagement to share updates on the company’s progress.

The funding round was spearheaded by Earlybird, with participation from PruVen Capital, Y Combinator, and Paua Ventures. Notably, strategic investors included David Clarke, formerly the CTO of Workday, Uber CEO Dara Khosrowshahi, and Wndrco, led by Jeffrey Katzenberg.

Shifting Focus to Employee-Driven ESG Initiatives

Kashi highlighted a key area of focus for Deed: assisting companies in understanding their employees’ philanthropic interests. This understanding will inform and shape the company’s Environmental, Social, and Governance (ESG) strategies.

“ESG investments are currently at an all-time high,” Kashi explained. “However, companies often fail to secure employee support before allocating resources.”

“Deed’s objective is to transform ESG from a ‘me’ to a ‘we’ approach,” he continued. “We aim to empower employees to actively participate in causes they are passionate about, enabling companies to listen and respond to their workforce’s values.”

Empowering Employees and Measuring Impact

To facilitate this shift, Deed plans to provide individual employees—beyond dedicated social impact teams—with greater control over creating and managing programs, fundraising efforts, and volunteer opportunities.

“[The goal is to] empower employees to lead the program for the company, rather than the company dictating the program to its employees,” Kashi stated.

Furthermore, Deed intends to expand its data team and develop methods for accurately measuring and reporting on impact, providing actionable insights.

Previous Funding

Prior to this Series A round, Deed secured $2 million in seed funding in late 2020.