DivInc and Fundr Launch New Partnership to Drive Startup Investment
DivInc will leverage Fundr’s AI platform to bring startups to its renowned accelerator and propel increased investment in a portfolio of diverse entrepreneurs.
AUSTIN, TEXAS, UNITED STATES, July 14, 2021 /EINPresswire.com/ — DivInc, a non-profit startup ecosystem builder working to generate equity in entrepreneurship, announced a new partnership with Fundr to optimize its accelerator application process and startup portfolio development.
DivInc’s 12-week accelerator for early stage startups provides comprehensive programming to support entrepreneurs and their businesses, while also connecting founders with an extensive network of mentors and investors. This new partnership with Fundr will expand DivInc’s ability to review and manage applications, process deal terms, and develop portfolios of vetted startups for investment.
Fundr provides an AI-powered platform that evaluates startups on 90 pieces of data, including team, traction, performance, and more, to eliminate unintentional investor biases in the investment process. Fundr’s platform also streamlines term sheets, monthly reporting, and deal tracking to increase efficiency for investors and startup founders.
As part of the partnership, Fundr will launch a new feature, the Investment Readiness Report for entrepreneurs, which will provide DivInc and the startups in DivInc’s program with key indicators of success for those businesses, and opportunities for growth. The goal is to connect DivInc’s startup founders with investors by giving them the tools to quickly provide updates, growth indicators, and other pertinent information to their potential and current investors.
“This partnership with Fundr is exciting because it helps us do more of what is exactly in our ethos,” said Preston James, co-founder and CEO of DivInc. “We are here to equip underrepresented founders to make an outsized economic and social impact, and to connect investors to high-growth opportunities. The Fundr platform will provide us with the data and investment management tools we need to do both, while helping us bring increased equitable decision-making in both our application process and investment opportunities.”
The partnership, which will go into immediate effect this July for DivInc’s next accelerator process, provides another proof point for the opportunity to use AI in investment decisions.
“The vision we have for Fundr is to help both investors and startup founders be successful. Our platform gives investors a streamlined way to review due diligence, get updates from the founders in their portfolio, and get the ROI they want. For founders, we make the evaluation and reporting process easy to save them time so they can focus on building their businesses. It’s expected that a full 75 percent of venture investment decisions will be supported by AI by 2025. This is the future, and we’re excited to work with DivInc to get there,” said Lauren Washington, co-founder of Fundr.
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About DivInc
DivInc is a 501c3 nonprofit organization whose mission is to generate equity through entrepreneurship by equipping underrepresented founders with access to the critical resources they need to build successful companies. DivInc offers programs including a 12-week accelerator for early-stage startups and builds partnerships with local government and non-government entities to drive systemic change. Founded in 2016, DivInc has supported 73 companies, and is headquartered in Austin, TX, with the second location in Houston that opened in spring 2021.
To learn more or to get involved, please visit: https://www.divinc.org/.
Connect with us on Twitter: @WeAreDivInc
View its FY 2019-2020 Impact Report at: https://www.divinc.org/s/DivInc-Impact-Report-FY-2019-2020.pdf
Contact: Brooke Turner, DivInc VP of Programs: brooke@divinc.org
About Fundr
Fundr combines the power of AI and portfolio diversification to help investors maximize their ROI. It uses AI to vet startups and remove bias from the investing process so the best companies get funded. Using a proprietary algorithm, it evaluates companies on 90 pieces of data, streamlines the deal close and helps investors track and build a strong relationship with their portfolio companies. Fundr recently completed its pilot, raising funds for each company in its portfolio and is now scaling through industry partnerships. Fundr has been featured in TechCrunch, Yahoo Finance, on the Forbes Next 1000 list and more.
Additional information about Fundr can be found at https://www.fundr.ai/
Lauren Washington
Co-founder and CEO, Fundr
lauren@fundr.ai
