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