As mentioned in Forbes Article, How This African American Women-Led Tech Startup Raised Nearly $600K in Funding, only 0.2% of $100 billion in venture funding goes to African American women founders. It is hard to argue the correlation between race and opportunity in terms of creating scalable businesses.
"Kanarys, Inc., the first social enterprise technology platform that aims to foster collaboration between companies and employees on diversity, equity and inclusion (DEI) in the workplace, was able to secure $575K in its first round of funding, which ended this month," cites Forbes.
Kanarys was started by two co-founders, Mandy Price and Star Carter, alumnae of Harvard Law School and former corporate attorneys. The two left their careers to dedicate their future to building the "sense of belonging" that research demonstrates as necessary for businesses and their employees to be most productive. Studies show that less than 30% of underrepresented employees feel connected or heard in the workplace, costing companies as much as $144,000 per employee in attrition costs annually. Kanarys was started to change those statistics and workplace culture.
As a holistic digital agency focused on "tech for good" — Kanarys was our dream client. We teamed up with them to build Kanarys, the first and only data-driven, crowdsourced platform that fosters collaboration between employers and underrepresented professionals, providing actionable insights around "Diversity, Equity and Inclusion" (DEI).
The Kanarys platform will be live to the public in May 2020 and will enable verified employees to anonymously share ratings, reviews and feedback on DEI to help companies address potential issues. Verified employees will also be able to rate their company on five key metrics and subsequently answer a series of DEI-focused questions that includes AI and machine learning technologies. Data analytics collected from reviews and surveys will be made available via a company dashboard for corporate early adopters so leaders can make informed decisions about how to improve the culture directly based on employee feedback and input.
To learn more about founder, Mandy Price, and her journey to tech entrepreneurship, read the full article on Forbes.