February 20, 2023

Mandy Price Joins Handful Of Black Women Founders To Raise Over $10M

Kanarys, Inc. has raised $10.5 million in a seed funding round, making co-founder and CEO Mandy Price one of fewer than 20 Black woman founders to receive over $10 million in funding.

Making history isn’t anything new to Price. In 2021, the entrepreneur became one of 93 Black women to raise $1 million in capital funding. The recent funding round brings Kanary’s total capital to date to approximately $10.5 million.

The series A funding round was led by Seyen Capital and included Portfolia Rising America, Rackhouse Venture Capital, Revolution’s Rise of the Rest Seed Fund, StartFast Ventures, TechNexus Venture Collaborative, and Tech Square Ventures.

Kanarys, Inc., is a well-known diversity, equity, inclusion, and belonging (DEIB) tech company that has spent several years helping organizations build a more equitable workplace for their employees.

Kanarys, Inc., a diversity, equity, inclusion, and belonging (DEIB) technology company

Using data, analytics, and insights, Kanarys, Inc. has helped transform how companies approach diversity and inclusion, leading them to yet another substantial investment raise. 

“We’ve been on a mission since 2018 to develop and deliver data-driven technology tools that not only address the unique needs of their employees but also foster inclusion among their stakeholders and customers,” said Price in a press release.

“DEIB remains a critical driver to a thriving business in every economic climate, and company leaders should continue to bolster their efforts when it comes to prioritizing DEIB.” 

Despite the many challenges Black female founders face in gaining equitable funding, Kanarys recent funding round shows progress is being made – is it too soon for us to ask if the tide could be turning?

Read: Resilia Closes $35M Series B, Largest Raise Ever For A Solo Black Woman-Founded Tech Company

“The momentum demonstrated through our Series A round underscores the importance and growth we’ve seen in DEIB solutions over the past several years,” added Price. 

“This funding, along with the hiring of leading industry experts, will catapult us towards fulfilling our mission.”

The additional funding will go towards developing Kanarys Inc.’s DEIB technology platform, which includes one-of-a-kind products such as the Equity Innovation Solution, Organizational Systems Assessment, and Supplier DEI Assessment.

The company is also in the process of recruiting and appointing six critical members to its team to expand the Kanarys engineering, finance, operations, product marketing, and sales divisions.

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Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.