Black women lead just .04% of the total number of women-led tech startups in the U.S., according to a newly released report by Digital Undivided’s #ProjectDiane—a research study evaluating 88 tech companies led by black women. Of that group, only 11 had raised $1 million or more. The remaining 77 raised an average of just $36,000, a gaping discrepancy compared to the average of $1.3 million raised for all startups—led by mostly white, male founders—who have historically received over 97% of all venture capital funding.
This is atrocious. We ought to be ashamed…if not surprised.
Let’s get to fixing this.