Two years ago, All Raise set out with a mission to increase visibility for women and non-binary people in the tech world. The San Francisco-based nonprofit aims to provide the aforementioned groups with the skillset to succeed in any aspect of the tech industry from funding and founding to scaling a company with success.
“We believe the next generation of startups need to have diversity, equity, and inclusion woven into their fabrics at their inception,” a spokesperson for the company said in an email to Built In. “Diversity debt is the hardest to address at large companies where the culture has been well-established — it's simply harder to turn around a big ship.”
All Raise announced Tuesday that it received $11 million in fresh funding to further its mission. The additional capital will be used to fuel the organization’s expansion plans over the next three years. All Raise intends to expand its reach nationwide and create new programs for senior executives, operators and board directors.
The nonprofit’s programming includes founder bootcamps and apprenticeship programs that are available in many major tech hubs including Boston, New York City and Los Angeles.
In September, the company spoke with Built In about its recently launched Visionary Voices speakers bureau. The bureau acts as a central resource for event organizers and journalists to connect with women and non-binary founders, funders and operators who are experts in their field.
Through its series of programming All Raise has provided over 30,000 hours of guidance to over 5,500 women founders and funders, according to the company.
This year saw renewed interest in DEI initiatives at many major companies in response to the Black Lives Matter and #MeToo movements. Despite that, PitchBook reports that VC funding to women-led companies dropped to its lowest quarterly total in three years.
“It certainly doesn’t help when startups co-opt the term ‘mission-driven’ to steer clear of critical DEI work,” Pam Kostka, CEO of All Raise, said in a statement. “There is no neutral choice in 2020 and not taking a stance is in itself a conscious decision.”
Yet, there is still cause for optimism. Demand for All Raise programs this year has exceeded the organization’s current supply, according to Kostka. Interest in the nonprofit’s programming continues to remain at an all-time high.
“The next generation of game-changing companies are being founded and funded now, and we can ensure they are more diverse and inclusive,” Kostka said. “It’s in everyone’s best interest to do so.”
Last month, the company also hosted over 700 women and non-binary venture investors at its third annual All Raise VC Summit.
“Companies that genuinely invest significant time and resources in building a company culture that welcomes people, treats them fairly, and frees them to do their best work will not only have an easier time hiring a diverse team, they’ll be able to retain talent as well,” a spokesperson for the company said. “Too often businesses only focus on recruiting people from underrepresented groups without paying attention to equity and inclusion, which are the real MVPs in the long run.”
Sequoia Capital, Pivotal Ventures, the Reid Hoffman Foundation and GGV Capital participated in the round.
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