MARCH 15, 2013/--RiseKit, a US-based startup looking to change the way enterprises source diverse talent from community organizations, recently raised $4.75 million in funding.

The failure of Silicon Valley Bank (SVB) has rocked markets and dominated conversation across the tech sector.

In the immediate aftermath many have been left questioning how the collapse happened so quickly and unexpectedly. In this blame game, diversity, equality and inclusion (DEI) programs have come under fire.

However, data shows that DEI progress stalled significantly in 2022. Far from being an overly dominant force that’s affecting the viability of company operations for the sake of fairness, DEI initiatives have been declining for the past two years. While the reasons for this aren’t binary, spending cutbacks and market instability often sees “non-core” initiatives come off the table first, and DEI could be one of these.

Yet despite the recent scapegoating, many industry leaders and investors see the clear need for solutions that support DEI initiatives such as equal recruitment practices. RiseKit, a US-based startup looking to change the way enterprises source diverse talent from community organizations, recently raised $4.75 million in funding to meet this need.

Raising $4.75 million in funding from Muditā VP, Stand Together Ventures Lab, Sylvie Légère, Steve Sarowitz, Thad Wong, Tom Gimbel, Ryan Daube, Scott Kallick, Verte Opportunity Zone Fund, and Prota Ventures, the US-based startup is looking to better enable organizations to scale their community hiring and DEI initiatives.

“We must include untapped, under-represented, diverse, and overlooked talent in our workforce to help people overcome poverty. But it’s costly for companies to do that since 100 million people don’t use LinkedIn or Indeed but instead utilize community organizations to gain employment,” said Matt Strauss, CEO & Co-Founder of RiseKit.

“We’ve found that corporations can only partner with five to 50 community organizations, while there are over 200,000 that they can source from in the US,” added the executive.

About RiseKit

RiseKit helps employers find untapped talent while saving time sourcing from community organizations. RiseKit’s 200+ Community Organizations, Workforce Programs, Schools, Employers, Foundations and Government Partners include City of Evantston, Tullman, Lawrence Hall, Freedman and All Chicago For The Homeless and so on.