AboveBoard raised a $3 million seed round to continue its efforts to serve as an inclusive platform for executive placement that increases the representation of Black, Latinx, and female professionals on boards and at the C-suite/VP level.
“It was important to us to raise this round from investors who are underrepresented,” said Lucinda Duncalfe, AboveBoard’s founder and CEO in an official press release. “We have a powerful group that reflects our mission and I’m grateful for their support and investment in our vision. I couldn’t be more pleased with the investor group we brought together to support the company’s growth”
Thanks to the Commune Angels investor group, other investors like Angeles Investors were inspired to get behind the company.
“Angeles Investors participated in this round of funding because our membership was excited about the company’s mission as well as its momentum and trajectory,” said Adela Cepeda, of Angeles Investors whose mission is to find, fund and grow Hispanic and Latinx ventures in the release. “Our members have often faced the gap that AboveBoard fills, so we understand the opportunity and we are happy to be able to invest in a company that is helping us overcome our own challenge. The early traction the company has created is extremely rare.”
Other investors include angels Bonita Stewart of Google, Farah Ali of Electronic Arts, Jennifer Ceran, formerly of Smartsheet, Jonathan Mildenhall of TwentyFirstCenturyBrands, and formerly of Airbnb, Nick Caldwell of Twitter and angel investor Amy Change.
Currently, AboveBoard lives in its mission with women making up two-thirds of its employees, a third are LGBTQ+, 39 percent are Black and 17 percent are Latinx/Hispanic.
AboveBoard’s leadership team is also as diverse with 75 percent of the company’s board of directors made up of members of underrepresented groups.