Vee continues cutbacks, laying off 50% of remaining employees
Vee continues cutbacks, laying off 50% of remaining employees
After parting ways with 30% of the team in July, the volunteering platform is cutting its workforce again and will remain with just 17 employees
Israeli startup Vee, which is developing a volunteering platform, has laid off 50% of its workforce in its second round of cutbacks in three months. The company, which laid off 16 of its 50 employees at the end of July, will remain with a total of 17 employees.
Vee raised $12 million in a Seed round in February of this year led by State of Mind Ventures, with participation from noted Israeli VCs Oryzn Capital, Vertex, Viola Ventures, and well-known angel investors including Eynat Guez of Papaya Global, Amir Shevat of Innovation Endeavors, Gil Hirsch of StreamElements, and Guy Shamir of Mivtach Shamir.
Founded in 2020 by 23-year-old entrepreneur May Piamenta (CEO), Gil Amsalem (CTO), and Avi Amor (COO), Vee has raised a total of $13.5 million to date. Its platform hosts a wide range of volunteering opportunities such as food aid, animal welfare, youth mentoring, and environmental initiatives, enabling HR teams to find, coordinate, and share charity events and in effect build a community for giving back inside the company.
Piamenta confirmed the cutbacks to Calcalist, but insisted that the company has no plans of shutting down. “The company isn’t going anywhere. We serve thousands of non-profit initiatives and we will continue to focus on them and our existing clients.”
