Honoring Black History Month

On Martin Luther King Jr. Day, we celebrated the achievements of Black Founders and spotlighted several companies that are beating the odds (ie, lack of funding) to start up their businesses. To honor Black History month and ahead of a report that PrivCo will soon be launching on diversity, we give a stark preview of how minority-led companies are still losing out. To put things into perspective, the funding raised by Black Founders in 2020 is equivalent to the amount just one failed content startup -- Quibi -- lost.

Black Founders Spotlight

• Helium Health is a San Francisco-based Series A Round healthtech startup that provides full-service tech solutions for emerging markets. It was founded in 2015 by Adegoke Olubusi and Dimeji Sofowora.
• Somatus is a Virginia-based biotechnology startup that focuses on healthcare for patients with or at risk of developing kidney disease. The company, founded by Anthony Welters and Ikenna Okezie, raised a Series C in June 2020, netting a $250MM valuation.
• Andela is a New York-based talent sourcing company that recruits software developers from Africa to work for US-based technology companies. The company was founded by Christina Sass, Ian Carnevale, Iyinoluwa Aboyeji, and Jeremy Johnson. 
• Cadre is a real estate technology unicorn in the proptech space and operates from New York City. The company was founded by Jared Kushner, Josh Kushner, and Ryan Williams.
• Amino Apps is a community-driven app aiming to allow individuals with similar interests to chat with one another. Hailing from New York City, the company, founded by Ben Anderson and Yin Wang, has raised Series C funding from investors like GV and Union Square Ventures.