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Raising $4.25 million, co-founders Jasmine Shells and Denise Umubyeyi are two of 250 Black women to raise more than $1 million in venture capital. According to a press release shared with AfroTech, their software company Five to Nine closed a seed round led by Black Ops Ventures with participation from Slack Fund and Cleveland Avenue. To date, Five to Nine has raised $5.75 million with the help of recurrent investors such as Mike Gamson, Sterling Road, and Concrete Rose Capital. The funding will expand its product and engineering teams, strengthen its sales capabilities, and launch new customer solutions.
An unprecedented leap of faith would lead Kiesha Nix to achieve history with the Lakers, serving as the first Black woman to become a vice president within the Los Angeles Lakers organization, Sports Illustrated reports. During Nix’s career spanning nearly 30 years, her heart of philanthropy has remained at the forefront of her professional objectives. Before landing the historic position, she initially worked as a project manager at Merrill Lynch, but a company merge would lead Nix to manage contracts under Bank of America. Thriving in her role as a managing investor, Nix landed high net worth clients and CEOS, Sports Illustrated reports. Working outside of her job description, Nix dedicated countless hours and nearly two decades to curate events and raise fundings for the bank’s charitable foundations. “It was not part of my normal day-to-day job responsibilities, but I did that work for 18 years,” Kiesha Nix says in a press statement, according to Sports Illustrated. “I saw it as...
Black Ops Ventures, a Black-owned VC fund, has announced that it has closed its first fund with investments totaling $13 million. And, thanks to this fund closing, the company has announced its intent to exclusively back outstanding Black tech founders in the United States and Canada. According to a press release, “In securing investments for this initial close, Black Ops relied upon long-standing relationships with some of the most respected names in the tech industry.” Some of those names include Blavity, Inc. CEO Morgan DeBaun, Drew Houston, Jacob Gibson, Ben Horowitz, Union Square Ventures and Jeff Bussgang. Bank of America and Northwestern Mutual led the fundraising round, according to the press release. “We are part of this community of Black founders, with better access to deal flow than other venture investors, regardless of their cultural background,” said James Norman , partner, in the press release. Norman is also the founder of Pilotly and co-founder of Transparent...