Bootup raises $2.1 million from all black investors

Dreams of a Black Tech Street are just beginning to sprout as founder and CEO Chandler Malone’s tech startupBootup’ raises $2.1 million in seed capital from all black investors.

Since launching its first product on July 21, Bootup has experienced rapid growth, increasing revenue by 100% month-over-month from July to November at a seven-digit run rate, while developing relationships with more than 80 employers and 125 technical training programs, and placing more than 330 people in their first technology job for more than $23 million in annualized salaries.

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Bootup helps companies solve their talent pool challenges by making them more comfortable sourcing and hiring talent not traditionally trained while helping individuals increase their economic mobility through access to the right training programs. training and well-paying technology jobs.

Malone’s company has placed candidates at some of the largest and highest-paying companies in the world, including Microsoft, Amazon, JPMorgan Chase, Dell Technologies and many others.

Chandler Malone’s Tech Start Story

In January 2020, Malone moved to Tulsa, Oklahoma, known for Black Wall Street – a once-thriving black entrepreneurial hub. Now he works to inspire local black entrepreneurs in a city that 100 years ago saw the worst attacks and destruction on black economic progress in the Tulsa Race Massacre of 1921.

Malone is also a strong supporter of the Black Tech Street movement. It is a rebirth of Black Wall Street as the new center of black technology and investment in America that is catalyzing black people to embrace technology as a way to create wealth and impact the world.

Currently, in the tech space, there is a talent gap of 2-5 million people. Nevertheless, this industry is expected to grow to over 85 million by 2030. To address the decline, Malone is focusing on using Bootup not just as a solution to the tech talent pipeline problem.

Bridging the technology gap, the lion’s share of people entering the industry are coming from colleges and universities, which enrolled 3 million fewer people each year than a decade ago.

“It is an incredible privilege to be able to use capital in such a powerful way. By solving one of the biggest business problems of this decade, we are simultaneously bringing economic opportunity to millions who were previously excluded” , shares Malone.

Meanwhile, Malone, too, says the black wealth gap continues to grow over time. He sees the use of Bootup as a method of bridging the inequalities of opportunity and wealth between black people and their counterparts.

Dream Team of black investors

Malone is excited about the opportunity to return significant capital to his all-black team of seed investors. The dream team includes: Lightship Capital, Kapor Capital, Base Ventures, Concrete Rose Capital, Aaron Samuels of Blavity, Pryce Adade Yebesi of Utopia Labs and David Fatoki of the Golden State Warriors organization.

“I am grateful to all the people, customers and investors who have trusted us so far and excited to keep in touch with so many more in the years to come.”

Malone is also excited to see how that capital is reinvested in future founders of color. He also hopes Bootup will serve as a catalyst for creating more black wealth over the next decade.

Finally, Chandler Malone plans to continue ongoing conversations with mentors and investors Candice and Brian Brackeen, managing partners of Lightship Capital. He hopes more investors will follow their example to close the funding racial gap.

Tyrance Billingsley is a Tulsan born and raised entrepreneur, ecosystem builder and community leader. He is the founder of Black Tech Street, an initiative aimed at reviving Black Wall Street as the capital of black technology and catalyzing a global movement that sees black people embracing technology as a way to create wealth and have an impact on the world. Tyrance has been featured in Forbes, CNN, Blavity, The Wall Street Journal and more. He was recently named to the inaugural For(bes) the Culture 50 Champions list which highlights 50 black and brown people in the United States who are working to uplift their communities.

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