'We’re going to invest in an underlooked asset class that is overperforming.' Via crunchbase
. We typically wouldn’t cover a funding round so small, except hers is historical: the company claims that Dowell is the first black woman in Tennessee to raise more than $1 million in venture funding.
Nationally, less than 2 percent of all venture funding goes to companies led by women, and .006 percent to companies led by black women, according to the company. Dowell’s fundraise is both a sign of progress and lack thereof, which is similar to the greater data pulls we get when we unpack diversity. For example, while female-founded unicorns are being born at an unprecedented pace, they only make up 4 percent of startups that reached a valuation of $1 billion or more in 2019.according to Crunchbase dataBut Dowell’s story provides a glimmer of hope. She got her start through the Nashville Entrepreneurial Center.
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