A Black woman-owned tech company setting out to help companies better operate just made a huge announcement.
Kanarys, Inc has raised $5 million in its Series A financing round led by Seyen Capital according to a news release shared with ESSENCE. The round also includes Portfolia Rising America, Rackhouse Venture Capital, Revolution’s Rise of the Rest Seed Fund, StartFast Ventures, TechNexus Venture Collaborative, and Tech Square Ventures. Kanarys’ total capital raised to date is $10.5 million.
This makes the company’s founder, Mandy Price only one of 20 Black women to reach that feat.
“The momentum demonstrated through our Series A round underscores the importance and growth we’ve seen in DEIB solutions over the past several years. 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,” said Price said in a news release. “We’ve been on a mission since 2018 to develop and deliver data-driven technology tools that not only advance DEIB in the workplace but also create a culture of meaningful engagement across the global workforce. Our solutions empower companies to not only address the unique needs of their employees but also foster inclusion among their stakeholders and customers. This funding, along with the hiring of leading industry experts on our leadership team, will catapult us towards fulfilling our mission.”
The funding has given Kanarys the ability to recruit and appoint six key members to its executive team focused on DEIB, engineering, finance, operations, product marketing, and sales.
“As the leading provider of data-driven DEIB solutions, Kanarys demonstrates its value to companies and employees worldwide,” said George Spencer III, Senior Managing Director of Seyen Capital. “Today companies are being held to higher standards when it comes to DEIB, and Kanarys has developed the platform companies need to manage DEIB and make accountability more transparent and reliable for company boards, managers, investors, employees, and other key stakeholders. I am confident that our investment will further advance greater equity and transparency in the workplace, and we are excited to see the impact our investment has on furthering their mission.”
In January 2021, Kanarys closed its historic $3 million seed round, and at that time, Mandy Price was among just 93 Black women to have raised over $1 million in funding. Today, with the closing of Kanarys’ landmark Series A, Mandy joins less than 20 Black female founders who have raised more than $10 million.
