ĀÜĄņĀŅĀ×

Black-founded startups received roughly in funding in the first half of 2021, a number that is larger than the previous year.

Although at a glance this amount of money may seem significant, in reality, it is only of the total venture capital investments that startups in the U.S. received during the same time period. Black women are further marginalized, receiving only of the total venture funding. This, compared to the U.S. population where Black people make up of the country, is disproportionately low.

Despite showing that diverse startups lead to higher returns, receiving funding as a POC founder has still proven to be a challenge. In fact, Black investors make up only of the venture capitalist community.

Further, once a Black-founded startup does receive funding, it is to occur in single rounds. But despite all the systemic barriers, there have still been Black-owned startups that have successfully raised a large sum of money this year. The introduces some of these startups. Below are the org charts of the 14 Black-owned businesses that made the list:

1. Cityblock Health

Brooklyn Based Cityblock Health founded by Iyah Romm and Toyin Ajayi raised a $192 million Series C led by Tiger Global and Series D led by Softbank. The company provides in-home, community-based and virtual care to its members and is currently valued at an estimated .

2. Formstack

Workplace productivity platform Formstack helps organizations by simplifying forms, documents and signatures. Founded by Ade Olonoh, who has since stepped down as CEO and sits on the companyā€™s board, Formstack raised a in November led by Silversmith Capital Partners and Providence Strategic Growth.

3. Calendly

Tope Awotona is the founder and CEO of Calendly, a tool that simplifies meeting scheduling through automation. Based in Atlanta, Georgia the company has raised a Series B this year led by Openview.

4. Chipper Cash

Chipper Cash was founded by Ham Serunjogi and Maijid Moujaled in 2018. A platform designed for cross-border payments, it recently closed a led by SVB Capital in May and a led by FTX. The company is currently valued at .

5. Rocket Lawyer

Rocket Lawyer was founded by Charley Moore in March 2014, providing online legal services to individuals and small to medium-sized businesses. It received a led by Vista Credit Partners in April this year.

6. Andela

Andela connects global talent with companies. It was founded by four professionals Ian Carnevale, Iyinoluwa Aboyeji, Jeremy Johnson and Christina Sass and currently has over . Andela raised a Series E led by Softbank Vision Fund in September, bringing its total amount of funding to .

7. Flutterwave

Flutterwave is a fintech company that builds payment infrastructure that connects Africa to the global economy. It was founded by Olugbenga Agboola in May 2016, and it is currently valued at over after raising a led by Tiger Global Management and Avenir Growth Capital in March this year.

8. CloudTrucks

San-Fransisco-based CloudTrucks helps businesses manage their trucking services. Founded by George Ezenna, Jin Shieh and Tobenna Arodiogbu in 2019, the company raised a Series B led by Tiger Global, bringing its valuation up to .

9. SmartAsset

SmartAsset is a fintech company that helps customers make smart decisions about their money. It was founded by Michael Carvin in 2010 and recently closed a round led by TTV Capital, valuing the company at over .

10. Gro Intelligence

AI-powered Gro Intelligence analyzes data from over 40,000 sources and provides insights and forecasts for agricultural products and services. It was founded by Nemo Semret, Sara Menker and Sewit Ahderom in 2014 and recently raised an , bringing its total funding to .

11. Universal Hydrogen

Founded by John-Paul Clarke, Jon Gordon, Paul Eremenko and Jason Chua. Universal Hydrogen is on a mission to make carbon-free aviation a reality. This year it raised a Series A led by Playground Global and a Series B led by multiple investors.

12. Titan

Premier investment firm Titan was founded by Clayton Gardner, Joe Percoco and Max Bernardy. This year, the company closed a Series A led by General Catalyst and a Series B led by Andreessen Horowitz.

13. Fuzzy

Pet healthcare subscription company Fuzzy, hopes to make pet care more affordable. It was founded by Eric Palm and Zubin Bhettay. The company raised an Series B led by Greycroft and recently closed a venture round led by Icon Ventures.

14. Somatus

Healthtech company that specializes in kidney health, Somatus was founded by Anthony Welters and Ikenna Okezie in 2016. This year the company raised a Series D in June bringing its total funding to .