Gateway Capital Partners gives 0K in seed money to Milwaukee startup

Gateway Capital Partners gives $400K in seed money to Milwaukee startup

Less than three percent of Black and Hispanic tech companies receive funding from venture capitalists.

Eli Rivera and Ruben Gaona, co-founders of The Way Out app, are among the lucky few. The app developers recently received $400,000 in seed funding from Gateway Capital Partners, a Milwaukee-based Black-owned venture capital fund.

Rivera and Gaona said they were ecstatic the funding came from a person of color whose ideals align with their mission to help Black and brown people who were released from incarceration.

Launched in 2020, the app connects formerly incarcerated job seekers with potential employers, re-entry service providers, training programs, and even transportation to get to and from work. Jobs offered through the app range from retail, hospitality to landscaping.

“We felt that if we were going to partner with (venture capitalists), we wanted them to truly understand and have experienced the systemic inequalities that we are addressing through our platform,” Rivera said. “Having a Black female-managed VC group backing us is perfect.”

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