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Black Women Founders Have Tripled Raising More Than $1M Since 2018, Study Finds

Fortune reports that in 2018, only 34 Black female founders had ever raised $1 million in venture capital for their company — today that number has tripled. According to Project Diane , in this year alone 93 Black women have reported their ability to secure $1 million in investor backing for their businesses. This biennial report on the state of Black and Latinx women founders was created by digitalundivided and reports that 90 Latinx women have been able to raise the same amount. “These stats are the ones that are going to spark conversations and lead to real, true systemic change,” share digitalundivided CEO Lauren Maillian. This information comes from a database of about 650 Black and Latinx female founders. It finds both groups of women combined received only 0.64 percent of total venture capital investment between 2018 and 2019, for a total of $3.1 billion. About 0.27 percent went to Black women and 0.37 percent went to Latinx women. A continued lack of access to institutional...

Dec 18, 2020

Seven Black Women-Led Startups To Watch

When it comes to the tech industry, Black women still deal with a lot of unique barriers. According to Project Diane, Black women-led startups have only received a total of .0006% of the $424.7 billion in total tech venture funding raised since 2009. This percentage is alarming considering Black women are doing great work in tech and have unique value to bring to the market through their ideas and products. Ever resilient and resourceful, however, Black women have begun taking matters into their own hands and are starting companies regardless of adequate funding. In fact, the amount of Black-women led startups has more than doubled since 2016. These seven Black-women led startups display the diversity of ideas we bring to the table. Eth el’s Club Coworking spaces have seen a recent spike in popularity. In her Brooklyn neighborhood, Naj Austin realized there was a glaring gap and opportunity to capitalize. “What’s missing generally in the landscape [of coworking spaces] is there...

Aug 21, 2019