Kanarys, Inc.—a Dallas-based diversity, equity, inclusion, and belonging tech company—has raised $5 million in a Series A funding round led by Chicago’s Seyen Capital. The startup has raised $10.5 million in total funding to date, making co-founder and CEO Mandy Price one of fewer than 20 Black female founders who’ve raised more than $10 million, Kanarys said.
The new funding round also 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 says the funding has enabled it to recruit and appoint six new leaders focused on DEIB, engineering, finance, operations, product marketing, and sales to its executive team. The funding will also be used to further expand Kanarys’ DEIB technology platform.
Fostering inclusion among stakeholders and customers
“The momentum demonstrated through our Series A round underscores the importance and growth we’ve seen in DEIB solutions over the past several years,” Price said in a statement. “We’ve been on a mission since 2018 to develop and deliver data-driven technology tools that advance DEIB in the workplace and 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, will catapult us towards fulfilling our mission,” Price added.
Customers include Yum! Brands, 7-Eleven, Silicon Labs, and more
Kanarys’ customers include Yum! Brands, Silicon Labs, the Chuck E. Cheese Corporation, 7-Eleven, and other Fortune 500 companies. The startup has also established strategic partnerships with national advocacy groups including Prospanica, the National Society of Black Engineers, and INROADS. Kanarys says it helps transform workplaces by “using its extensive DEIB data-driven approach, ultimately improving workplace experiences for tens of thousands of employees.”
“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.”
Seyen Capital: Investment will advance ‘greater equity and transparency’
George Spencer III, senior managing director of Seyen Capital, says he’s confident that his firm’s investment “will further advance greater equity and transparency in the workplace.”
“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,” Spencer said in the statement
David Hall, managing partner of Revolution’s Rise of the Rest Seed Fund, noted that Kanarys’ success from its North Texas location points to another trend.
“Kanarys’ success underscores the notion that entrepreneurs can thrive in ecosystems outside of Silicon Valley,” Hall said.
“While many corporations recognize the importance of DEI, few tools are equipped to measure equity and inclusion,” added Terry Howerton, co-founder and CEO of investor TechNexus Venture Collaborative. “Kanarys is using hundreds of data sources to quantify equity and inclusion, uncover structural bias, and drive systemic change.”
Executive team appointments
Here are the six leaders Kanarys has newly appointed to its executive team:
Albert Fong was appointed VP of Product Marketing. He has extensive experience with early to mid-stage companies focused on HR technology and served in senior marketing roles at Reflektive, Topia, and Mindtickle, among others,.
Cecilia Choi joined Kanarys as VP of Operations. She was previously head of operations, Americas, at Papaya Global, a company that built its operations function in the U.S.
Chad Stoerp became the VP of Finance. He’s a SaaS and tech-enabled subscriptions finance leader who has completed over $200M in financing transactions,
Dawn Christian was appointed EVP of DEIB for the company. She brings extensive DEIB experience and is a certified mental health, wellness, and diversity and inclusion practitioner. She’s also served in senior leadership roles including leading diversity at a large public global company.
D’ontreye Nero was appointed VP of Engineering. He’s an accomplished technical professional with more than 20 years of experience building and managing software and cloud solutions.
Joe Fernandez is now VP of Sales. He’s an industry leader in human capital and digital transformation who has led and scaled sales teams at BetterUp, LinkedIn, and OnFrontiers.
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