Ulu Ventures, reportedly the largest Latina-led fund in the US, has raised $208 million for its fourth fund. The fund supports seed-stage tech startups in the US using an inclusive, data-based approach that seeks to limit cognitive bias without shutting out any demographic group. This strategy has led to a more diverse portfolio than traditional venture investments. “Ulu is a beacon for the most talented entrepreneurial teams because we reduce bias by applying impartial methods of assessing risk and the same criteria to all people,” CEO, Co-founder, and Managing Director
Lidiane Jones will step down from her role as CEO of Bumble Inc. and Founder and Executive Chair; Whitney Wolfe Herd will step in Jones’ place. Herd will transition to Chief Executive Officer, effective mid-March 2025. Jones said she is leaving her role due to personal reasons, according to a press release. “Bumble has made tremendous progress over the past year in building a platform for renewed, sustainable growth, and I will be forever proud of the work we’ve done for this beloved global brand,” Jones said. Whitney Wolfe Herd
Latina-owned fintech platform Hello Alice has announced it has distributed more than $50 million in grants to small businesses across the US since 2020. Founded by Carolyn Rodz and Elizabeth Gore, the digital platform has become a cornerstone of support for entrepreneurs nationwide, providing funding, mentorship, and tools to help their businesses grow. Empowering Entrepreneurs Nationwide Hello Alice was born out of co-founder and CEO Carolyn Rodz’s struggles as an entrepreneur. A former JPMorgan investment banker from Bolivia, Rodz told American Banker she faced significant hurdles when raising capital for
Three former Duolingo executives have secured $13 million in seed funding to launch a startup aimed at making college more accessible, as first reported by TechCrunch. The funding round, led by Khosla Ventures, also saw participation from Karman Ventures, Latitud Ventures, Lightspeed Ventures, and several angel investors. The funds will be directed toward hiring and product development for the initiative, which remains in stealth mode. A Mission Rooted in Personal Experience The team, which includes Jorge Mazal (CEO), Daniel Falabella (Chief Product Officer), and Gina Gotthilf (Chief Marketing Officer), is
Hollywood’s tightening budgets and declining support for diversity efforts have had a negative impact on projects by and for people of color, according to Charles D. King, founder and CEO of MACRO, one of the largest media companies centered on Black entertainment. Speaking at Bloomberg’s New Voices event, King discussed the industry’s economic challenges and highlighted how these factors have strained the viability of diverse storytelling in Hollywood. Job Cuts and Funding Challenges in an Evolving Industry With the shift in viewing habits towards streaming, coupled with rising production costs
The US tech industry is on track for substantial growth, with the Bureau of Labor Statistics predicting a 13% increase in tech roles by 2030. Yet, despite this boom, Hispanic representation in tech remains disproportionally low. This discrepancy is particularly striking when compared to the Hispanic population’s growth, which has surged to around 19% of the total US population as of 2020. Examining Key Cities: Growth vs. Representation An analysis by Bureau of Labor Statistics of major cities reveals significant gaps between Hispanic population growth and tech job representation. Philadelphia,
Global music icon Shakira has partnered with Amazon and Code.org, through her non-profit, Fundación Pies Descalzos, to expand computer science education for Hispanic students worldwide. The collaboration will help young people learn to code through an interactive music experience that uses Shakira’s Spanish-language hits and also provide computer science education training to teachers across Colombia. Learning to code through music Shakira has long worked to enhance educational opportunities for underserved communities in Latin America. In celebration of the partnership, Shakira has donated songs like “Amarillo” and “Chantaje” to Code.org’s Music
Reddit is bringing its AI-powered translation tool to more than 35 new countries, with plans to rollout the feature across Latin America in the coming weeks. Following a successful introduction in France earlier this year, users in Brazil and Spain are now able to translate posts and comments with a simple click, making Reddit more accessible to non-English-speaking communities. Seamless Translation Across Platforms This new feature allows Redditors to translate posts and comments into their preferred language across all platforms—mobile web, apps, and desktop. A translation icon in the overflow
Hispanic Heritage Month, celebrated annually from September 15 to October 15, honors the history, culture, and contributions of Hispanic and Latine communities in the US. It began as a week-long event in 1968 under President Lyndon B. Johnson and was extended to a month by President Ronald Reagan in 1988. The dates are significant because they coincide with the independence anniversaries of several Latin American countries, including Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Mexico, and Chile. In keeping with this year’s theme, “Inspiring Innovation and Empowering Communities,” here are
Sigo Seguros, a digital-first auto insurance serving Hispanic and Latine communities, has secured $10.5 million in Series A funding. Making Auto Insurance Easier and More Affordable Founded in 2019, Sigo specializes in non-standard auto insurance. Drivers in need of this insurance are often pushed to broker-run brick and mortar agencies, whic typically charge higher fees. Sigo offers a fully digital Spanish-language service that allows customers to obtain insurance in minutes through a mobile platform. “Immigrant and working-class communities struggle to buy auto insurance, whether it’s because of a lack of
