Elevate Capital News Flash

December 14, 2020

At Elevate Capital, we believe there is tremendous opportunity to invest early and offer mentorship to underserved entrepreneurs. We provide the inclusive venture capital and guidance they need to turn their startups into great companies.

Blendoor Responds to Nasdaq With ‘Credit Karma for Diversity’ Product

Diversity hiring startup launches new product after Nasdaq’s announcement to de-list companies with boards lacking diversity or transparency.

Two and a half years ago, Blendoor, a B2B diversity SaaS startup developed the de facto rating for corporate diversity, equity, and inclusion (DEI). BlendScore™, like Moody’s and S&P, is an unsolicited rating (it does not require disclosure) because data collection and analysis is automated for 700+ companies, across 24 industries, from thousands of public sources. 

The new product powered by BlendScore serendipitously launches a week after the Nasdaq proposal to require companies to disclose data and diversify their boards or risk de-listing. Blendoor targets the 75% of currently-listed Nasdaq companies that fall short of the proposed requirements.

About the Product: Like Credit Karma (recently acquired by Intuit for $7.1B), BlendScore’s snapshot shows a breakdown of your company’s rating, industry benchmarks, and risk across three dimensions: (1) talent strategy, (2) employer brand, and (3) compliance. 

Companies that subscribe to Blendoor’s enterprise SaaS get an AI-driven ‘DEI Sherpa’ instant recommendations, tracking, alerts, and diverse slates of qualified executive and board-level talent, for a fraction of the cost of consulting or executive search. Blendoor has seen a 400% increase in inbound demand since June; they primarily sell to ESG/impact funds and public companies like these.

“Millennials and Gen Z job seekers are awake,” says Stephanie Lampkin, Founder and CEO of Blendoor. 76% of job seekers and employees today report that a diverse workforce is an important factor when evaluating companies and job offers (Glassdoor). 

“Post-2020 firms must authentically respond to the changing social climate or risk losing talent and access to capital. Demographic data disclosure will soon be mandatory; luck favors the prepared.”

About Blendoor: Blendoor is a venture-backed, diversity hiring SaaS and people analytics company founded in 2015 by Stanford and MIT alum, Stephanie Lampkin. Blendoor has employed 21 people across 5 countries, served over 1.1M professionals and 279 companies in the US and Canada. For more information about Blendoor, email Download media assets.

TechfestNW Video: Expanding Opportunities for Black and Brown Entrepreneurs

Watch TechfestNW Video

Stephanie Lampkin, Founder and CEO of Blendoor (an Elevate Capital portfolio company since 2018), and Nitin Rai, Founder and Managing Partner of Elevate Capital spoke at TechfestNW 2020 on December 3. 

Watch Stephanie and Nitin discuss how to move the needle forward when it comes to expanding opportunities for Black and Brown entrepreneurs.

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