Black Entrepreneur Blueprint – Using Venture Philanthropy To Help Build Black Wealth
10 Black Entrepreneurs Making Waves
Throughout history, Black entrepreneurs have faced unique challenges in America, one of which is the lack of access to capital. Business funding gives life to new ideas, which might otherwise be lost, appropriated, or manipulated.
The problem still remains, as Black entrepreneurs are less likely to receive venture capital funding. Yet, these entrepreneurs continue to start new businesses, despite these odds, furthering a rich legacy of Black innovation and advancement. An Ewing Marion Kauffman foundation study revealed that Black owned businesses often start with three times less capital than white owned businesses. Some, like those below, are getting funded and disrupting the status quo in a variety of industries. These 25 Black entrepreneurs have built successful companies in logistics, tech, retail, and more, setting new standards for business.
25 Black Entrepreneurs You Need To Be Paying Attention To
1. Asmau Ahmed, Founder of Plum Perfect
- Total Funding Raised: $10M+
- Investors Include: 37 Angels, Kapor Capital
- HQ: New York, New York
Asmau started as a chemical engineer but soon transformed her passion for innovation. The Columbia grad founded Plum Perfect, an app that scans a users’ selfie to find the perfect makeup for their skin tone – including the various tones of women of color. Listed as one of five “Top Women in Digital” Asmau Ahmed focuses on extracting business value from innovation.
2. Adelanwa Adesanya, President & Co-Founder of Moving Analytics
- Total Funding Raised: $2.5M
- Investors Include: OCA Ventures, Stanford University, Impact Engine, Blueprint Health
- HQ: Los Angeles, California
Adelanwa Adesanya is an engineer turned entrepreneur that merged technology with healthcare to improve cardiac attack care. His company, Moving Analytics, provides a digital rehabilitation program that helps hospitals implement home-based care to patients. His clinical protocols and technology help maintain quality care outside of a hospital setting.
3. Amari Ruff, Founder & CEO of Sudu
- Total Funding Raised: $1M
- Investors Include: Atlanta Seed Company, Plug and Play, Harlem Capital Partners, Engage Ventures
- HQ: Atlanta, Georgia
Previously the CEO of R2 Trucking Solutions, Amari now manages Sudu, a technology-based logistics company. They use data and analytics to help companies ship their freight efficiently using a network of carriers.
4. Angela Benton, Founder & CEO of Streamlytics
- Total Funding Raised: Undisclosed
- Investors Include: Issa Rae
- Culver City, California
Angela founded NewME Accelerator, the first accelerator for minority founders. She was featured on CNN’s award-winning documentary, Black in America. At the helm of Streamlytics, she uses data to measure what media people are consuming across streaming platforms.
5. Ashifi Gogo, Founder & CEO of Sproxil
- Total Funding Raised: $2.3M
- Investors Include: MassChallenge
- HQ: Cambridge, Massachusetts
Growing up in Ghana, Ashifi Gogo was first introduced to technology via cell phones. By the time he was thirty, he founded a technology company based on them. Sproxil is a supply chain management and consumer engagement company designed to prevent counterfeit goods. They also help companies protect their brand and engage their customers.
6. Cashmere Nicole, Founder, CEO & President of Beauty Bakerie Cosmetics Brand
- Total Funding Raised: $7.6M
- Investors Include: New Voices Fund, Unilever Ventures, Charles Phillips, Blue Consumer Capital
- HQ: San Diego, California
Cashmere became a young mom at only 16. That experience inspired her to work hard to give her daughter the best life possible. Beauty Bakerie is a cosmetics company that focuses on long-lasting, smudge-free makeup for a wide range of skin tones.
7. Chris Bennett, CEO & Co-Founder of Soldsie
- Total Funding Raised: $5M
- Investors Include: First Round Capital, Great Oaks Venture Capital, Uncork Capital
- HQ: San Francisco, California
Chris founded Soldsie to make it easy for small businesses to monetize their Facebook pages. Customers provide their payment information to Soldsie, after which they can buy products by merely commenting on the stores’ pages. For the sellers, Soldsie includes a full administrative dashboard to help them manage their inventory and user comments.
8. Kathryn Finney, Founder & CEO of Digitalundivided
- Total Funding Raised: Self-funded
- HQ: Atlanta, Georgia
Kathryn founded Simply Good Media after building the Budget Fashionista into a global brand, including a bestselling book titled How to Be a Budget Fashionista. Now, she is the CEO of Digitalundivide, an economic empowerment program encouraging the growth of black entrepreneurs by helping women of color obtain funding.
9. Damola Ogundipe, CEO of Civic Eagle
- Total Funding Raised: $2.3M
- Investors Include: M25 Ventures, PurposeBuilt Ventures, The Syndicate Fund, Incite Ventures
- HQ: Minneapolis, Minnesota
Born in Nigeria, but raised in the Midwest, Damola sees America as a land of opportunity. Fascinated by the democratic process, he sought out ways to improve businesses’ understanding of local and federal laws and regulations. Civic Eagle provides software that analyzes regulations and legislation without the manual work so that companies can be sure to stay in compliance.
10. Kimberly Bryant, Founder & Executive Director of Black Girls CODE
- Investors Include: General Motors, Kristy Tillman
- HQ: Oakland, California
After a successful career in pharmaceuticals and biotech, Kimberly founded Black Girls CODE in 2011, which she has grown into an international organization. The nonprofit has reached more than 3000 students so far and continues to grow. She was highlighted as one of “The 25 Most Influential African-Americans in Technology” by Business Insider in 2013.