Raising $3 million in seed funding would be a phenomenal feat for any tech startup, but it was particularly meaningful for Mandy Price and Star Carter, two cofounders and best friends behind Dallas-based Kanarys. As Black female entrepreneurs, the duo is acutely aware that their fund raising experience doesn’t happen often.
“There have only been 93 Black women total that have raised more than $1 million in VC funding,” Carter says. “So we’re thankful and really lucky to have the venture capital folks that we had come in [including Zeal Capital Partners], but the numbers are very dire.”
Ironically, the type of disparities and inequities the two observed in the fundraising world is exactly what inspired the former lawyers, along with Price’s husband Bennie King, to launch their own company in 2019.