Bootup has secured new funding.
The round was led by Kapor Capital, in addition to participation from Lightship Capital, other Black-led funds, investors, and more.
“I feel that allocation of capital is the most useful form of activism in a capitalist society,” said Founder and CEO of Bootup, Chandler Malone, in a statement. “This idea was inspired by a conversation with Candice Matthews Brackeen back in 2018 and led to us being intentional about raising from all Black-led funds and angels for our seed round as our work is directly focused on targeting the wealth gap.”
The platform made its debut in July 2021 and has experienced exponential growth, amounting to an increase of 100 percent in monthly revenue from July to November, according to a press release.
Bootup has also landed over 300 people jobs in the tech sector.
As the company looks ahead, it will assess capital investments for entrepreneurs of color and operate as a vessel to ensure Black wealth will increase in the decades ahead.
“I’m thankful for all of the individuals, customers, and investors who have trusted us thus far and excited to stay in touch with so many more people in the coming years,” Malone said, according to The Black Wall Street Times.