On Increasing DEI: Why TechNexus Invested in Kanarys

Kanarys was founded in 2018 by Mandy Price to help address the inequitable systems she personally experienced in the workplace

TechNexus Venture Collaborative is proud to welcome Kanarys to our investment portfolio. Kanarys is an HR Tech, AI-based platform focused on improving diversity, equity, and inclusion in the workplace with Holistic DEI Assessments, Benchmarking, and Solutions.

HQ: Dallas, TX

CEO & Founder: Mandy Price

The problem: In the US and around the globe, there’s an increased demand for diversity disclosures. Within certain industries, there are even requirements to meet DEI mandates — or explain the shortcomings. Companies are acknowledging the increasing importance of DEI and the role it plays in talent acquisition and retention, and are therefore building DEI practices into policy and creating DEI positions. But, hiring for diversity alone is not enough — and while most companies can measure the representation of their employees, few tools are equipped to measure equity and inclusion.

Insert Kanarys: Kanarys uses advanced technology and data to help companies solve the complex problems of DEI and build more equitable workplaces: using data to drive insights, make proposals, and ultimately, empower enterprises to take action. Using machine learning and natural language processing through AutoML, Kanarys delivers diversity metrics and equity and inclusion analysis and provides a policy procedures action plan for a comprehensive approach to DEI.

Why we’re investing: While the market for DEI platforms is crowded, Kanarys has emerged as an early market leader with notable traction with enterprise customers, an impressive and diverse founding team, and a strong investor syndicate. An investment in Kanarys will drive prioritization alignment with our Corporate Partner’s internal DEI objectives by providing DEI data analytics and insights, as well as a roadmap of options clearly defining next steps.

Further Reading: Black Woman-Owned Kanarys, Inc Announces $5M Series A Round (Essence) | Diversity, equity and inclusion technology firm Kanarys scores $5 million in Series A funding | Mandy Price Joins Less Than 20 Black Women Founders To Raise Over $10M After Kanarys, Inc.’s $5M Series A

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