What's next? Build community and break barriers. The post Advancing Diversity: How Bevy’s 40M Series C Funding Round Is Improving Its Workforce Representation appeared first on ReadWrite.Bevy, the only enterprise virtual, hybrid, and in-person event community platform, has secured $40M in Series C. With COVID-19 accelerating the need for virtual connectivity, Bevy’s services have been in high demand and continue to lead the way in community building among top-level companies. The $ 325M valuation is quadruple the company’s value of last year. Bevy uses virtual conferencing as a way to help enterprise brands build communities. In 2017, Bevy was launched by the co-founders of Startup Grind, a global community for aspiring entrepreneurs that now has chapters in over 125 countries and 500 cities. “If black and brown people are not going to be a part of tech, we’re going to lose.” “Unfortunately, there are not enough people of color who are really active participants in the free enterprise system,” states entrepreneur Lowry. Their goal is to have Black employees represent 20% of all company employees by September of this year.īevy hopes to start a trend for other established tech companies to open up their doors to people of all ethnicities and backgrounds. Putting Money Where Their Mouth Isīevy is opening its arms to many of the country’s most accomplished Black investors and is committed to increasing their employee diversity substantially. Bevy is proud to have the shared support of these and many other incredible Black business people. Included in the group is Facebook board member Peggy Alford, diversity and inclusion trailblazer James Lowry, and former Beats by Dre CMO Omar Johnson. Twenty percent of the raised funds come from Black investors, who make up 70% of the group as a whole. “We believe the best tech companies of tomorrow will have equal and fair representation across all communities, but especially people of color,” says Bevy’s CEO and co-founder Derek Andersen. The syndicate involved in the funding includes over 25 prominent Black leaders. Rather, they saw this as an opportunity to make their company and the tech industry as a whole more inclusive. This round of funding was more than a notch in Bevy’s belt, as they continue a growing streak of business success. Bevy recently announced a $ 40M series C funding round, valuing the company at $ 325M. It helps companies like Google, Facebook, Salesforce, and Twitch hold virtual and hybrid gatherings. The company’s platform powers enterprise-level events. Bevy is the perfect example of a company doing what it can to make a difference in tech diversity. While many of the largest tech brands are lacking in the diversity department, others are taking matters into their own hands and leading the charge for inclusivity. The fact is that thousands of workers of different ethnicities are not receiving the same opportunities to show their worth. You’ll often hear the excuse that companies are simply hiring the best candidates available, regardless of race or gender. It doesn’t take a mathematician to realize those numbers are problematic. Two-thirds of the biggest tech companies in the U.S. ![]() However, it’s also an extremely competitive field and has proven to be one of the least diverse industry sectors. Because of the numerous opportunities in the field - from artificial intelligence and cybersecurity to online software and video game development - the need for workers in the tech space is always high. Of all the industries in the world, tech companies are growing the fastest. Today, many companies are using their influence to make change happen for themselves, their customers, shareholders, and local communities. ![]() and is one that keeps getting swept under the rug. Racial inequality has long been a problem in the U.S. Following Minneapolis resident George Floyd’s death at the hands of uniformed officers, millions of Americans banded together to incite change. In the United States, 2020 was a year of racial reckoning. While most people will look back and remember the COVID-19 pandemic and how lockdowns affected lives permanently, let’s not be too quick to forget the other events that made 2020 historic. ![]() Perhaps the best way to describe the year 2020 would be “trial by fire.” It seemed like all the forces of the universe were working together to push humanity to its knees.
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