Braze, the comprehensive customer engagement platform that powers interactions between consumers and the brands they love, has expanded its product grant program, previously known as Tech for Black Founders, which will now be called Tech For an Equitable Future. The program will offer 20 companies with underrepresented founders – including Black and women entrepreneurs with 12 months of free access to Braze technology and supporting resources that enable business growth and scalability. Applications are now being accepted for the Tech for an Equitable Future product grant program through Jan. 19, 2024.
“We are proud to announce the expansion of our successful product grants program to help further level the playing field for marginalized founders,” said Rod McLeod, VP of Social Impact at Braze. “With equity serving as a cornerstone of our social impact initiatives at Braze, we remain steadfast in our commitment to diversity, equity, and inclusion. With the next chapter of Tech for an Equitable Future, our aim is to continue to create opportunities that catalyze business growth by fostering a more inclusive and equitable future.”
In 2022, only 1% of founders backed by venture capital in the United States are Black, and companies founded solely by women garnered just 2% of the total capital invested in VC-backed startups in the United States. These figures underscore the disparity faced by Black and female entrepreneurs in attaining equitable access to foundational funding. Today, Braze has 24 Black-founded businesses, including 10 women-founded startups, that are active in the program, totaling $735,000 in annualized Braze product value.
“Joining the Tech for an Equitable Future program has enabled us to scale our customer communications with Braze, a leading provider in the market, in order to drive stronger business outcomes,” said Mandy Bowman, Founder and Chief Executive Officer of Official Black Wall Street, an app and digital platform helping consumers find, review, and shop from Black-owned businesses. “Leveraging Braze, we’ve been able to improve our customer experience and boost retention through personalized and streamlined messages to our users, despite having limited marketing resources.”
SOURCE : BusinessWire