New Hallo Report Finds Just 40 Black Founders Raised Venture Capital in Q4 2020
Jan 20, 2021
LOS ANGELES - January 20, 2021 - (Newswire.com)
Diversity recruiting platform Hallo has published the findings from their latest research report — Black Founder Funding Q4 2020.
This is Hallo's second quarterly report in their Black Founder Funding series which aims to track the funding raised by startups led by Black founders.
Last year, as nationwide protests against racial injustice began, many venture capital firms acknowledged the problem — less than 1% of founders who receive venture funding are Black, despite making up over 13% of the U.S. population. Many outlined initiatives and action plans aimed at tackling this problem. Hallo's objective with these reports is to create a benchmark around the progress being made towards fulfilling those promises.
This new report analyzed 1,537 companies that raised a round of capital between Oct. 1, 2020, and Dec. 31, 2020, with a total funding amount between $1,000,000 and $50,000,000.
Hallo's research found that out of the 1,537 companies analyzed, 40 were led by Black founders. The companies combined raised $12,368,156,928 with $260,844,766 being invested in Black founder-led startups.
Commenting on the findings, Hallo's founder and CEO, Vern Howard said: "for those VC's who simply posted their "we stand in solidarity" message across social media back in June, yet haven't taken any meaningful action to back Black founders, you should be ashamed of yourselves. The Black founder community doesn't need VCs to just say they stand in solidarity. What we need is for you to stop talking, start listening, and start investing and supporting Black founders. That's the only thing that will truly move the needle in creating equal funding opportunities."
Hallo plans to continue publishing these reports every quarter. Howard said: "Our objective here is to keep a pulse on progress being made so we can ensure that all the awareness and momentum that was built last year doesn't slowly fade away."
To access the report's findings, visit here.
About Hallo
Hallo is a diversity recruiting platform that helps connect college students across the country with leading companies like Apple and Google. Hallo has raised $1.9m in funding from Canaan Partners, Tribe Capital, Kleiner Perkins, and many other leading VCs.
Methodology:
The numbers represent the global startups who raised a round of capital between Oct. 1 and Dec. 31, 2020. The total funding criteria was $1,000,000 - $50,000000. This data was sourced from Crunchbase. Companies with a founder CEO's who were Black were included.
Media:
Press Release Service by Newswire.com
Original Source: New Hallo Report Finds Just 40 Black Founders Raised Venture Capital in Q4 2020
More News
I Made A Geography Game That Doesn't Require A Map
Four rounds, four mystery countries. Start guessing...the closer you get, the hotter it gets. Here's GeoTemp #158 for October 29, 2026. View Entire Post ›
After 28 Years Walking the Globe, Karl Bushby Is Almost Home
Karl Bushby has walked 31,000 miles, crossing some of the world’s harshest landscapes. He plans to reach his mother’s house in England next week.
How Hong Kong-raised artist Cici Wu turns her diasporic experiences into poignant works
In her New York solo exhibition at 47 Canal, Hong Kong-raised artist Cici Wu animates the gallery space with 11 paper lanterns made using traditional techniques. Inside the lanterns constructed with bamboo and willow sticks and sheathed in mulberry paper, she has placed pulsating LED lights that cast moving shadows. There is something cinematic about these luminous sculptures that are traditionally vessels of memories and loss. The pulsating light in each lantern corresponds to a section of the...
American Airlines Joins the $150 Credit Card Club. What Do Travelers Get?
American Airlines and Citi are raising annual fees on two AAdvantage credit cards to $150, adding travel credits and rewards while leaving cardholders to decide whether the benefits justify paying more. The post American Airlines Joins the $150 Credit Card Club. What Do Travelers Get? appeared first on Business Traveller.
Etihad Rail Partners with Citymapper for Journey Planning
Passengers can now use the Citymapper app to map out first- and last-mile connections alongside national rail services in the UAE The post Etihad Rail Partners with Citymapper for Journey Planning appeared first on Business Traveller.
Global Industry Leaders Take the Stage at ITB Americas Conference 2026
With the inaugural ITB Americas set to kick off in just two weeks, 90+ speakers from WTTC, Netflix, Expedia Group and beyond are set to take the stage at the ITB Americas Conference in Guadalajara. Featuring over 40 sessions, the ITB Americas Conference will bring together leading voices across the travel industry to explore the trends, challenges and opportunities shaping the future of travel. Taking place alongside the inaugural ITB Americas from 10 to 12 November 2026 at Expo Guadalajara, the ITB Americas Conference will serve as a platform for three days of strategic dialogue, industry insights and international exchange. As the show’s knowledge hub, the conference will connect senior executives, policymakers, destination leaders and innovators to explore the developments transforming travel across the Americas and global markets.
Unveiling Janu Residences, Al Marjan Island by Aman Group: A New Coastal Expression of Janu Living
Set along the shores of Al Marjan Island in Ras Al Khaimah, Janu Al Marjan Island brings Janu’s distinctive approach to coastal living to one of the United Arab Emirates’ most anticipated and exclusive waterfront addresses for the first time. Just 70 km from Dubai, the development is located adjacent to Wynn Al Marjan Island, the region’s first integrated resort. Part of Aman Group, Janu is a hotel, residence and lifestyle brand offering a new expression of hospitality, centred on connection, wellbeing and shared experiences.
WTTC Hails London as a Model for Growth as Global Travel Leaders Gather for WTM
The World Travel & Tourism Council (WTTC) has welcomed the launch of the new Oxford Street traffic-free zone in London, supporting its view that the city is a strong model for growth in Europe and focused on attracting more tourism. As global Travel & Tourism industry leaders gather for the World Travel Market (WTM) in London, WTTC is forecasting that the sector will grow in Europe by 3.1% in 2026, continuing to outperform the wider economy and exceeding the sector’s 2.6% growth recorded last year.
Meet NFL star Drake Maye’s wife Ann Michael, whose ‘Bakemas’ TikTok series went viral
New England Patriots quarterback Drake Maye may be making headlines for his prowess on the field, but his wife, Ann Michael Maye, is making a name for herself on social media. View this post on Instagram A post shared by Ann Michael Maye (@annmichaelhmaye) With over 600,000 followers on TikTok and over 584,000 on Instagram, Ann Michael went viral in December last year when she launched the “Bakemas” series on TikTok, where she baked a new holiday-themed item...
Touch grass, literally: Explore why walking therapy is on the rise
The growing practice of outdoor ecotherapy, specifically walk-and-talk therapy, uses rhythmic steps and ambient sensory grounding to help clients open up.
There’s More to Qatar: Why Business Travellers are Staying Longer
Abdulaziz Ali Al-Mawlawi, CEO of Visit Qatar, explains how the country is turning global connectivity and a packed events calendar into a compelling destination for extended stays. Visit Qatar will appear at World Travel Market (WTM) London next week. The post There’s More to Qatar: Why Business Travellers are Staying Longer appeared first on Business Traveller.
Eh, could Canada be the next big wine country? Find out at Hong Kong Wine & Dine Festival
“We’re in the golden age of Canadian wines,” legendary wine writer Tony Aspler tells me confidently. We are at an intimate showcase of the stuff at the Canadian consulate in Hong Kong’s Quarry Bay neighbourhood, where representatives of nine wineries have gathered to prove that the true north has more than ice wine to offer. As a wine drinker with no particular bias – I will happily quaff a funky Austrian pét-nat (sparkling wine) as much as a fine Burgundy – it was natural for me to enter with...
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.