MEET THE 94TH BLACK WOMAN TO HAVE RAISED $1M IN VENTURE CAPITAL FOR HER STARTUP.
Nationwide (BlackNews.com) — Janice Omadeke, founder and CEO of an Austin, Texas-based tech startup called The Mentor Method, has raised $1.4 million in seed funding to galvanize workplace inclusion and equity by reshaping mentorship experiences in support of diverse, rising talent. As of December 2020, only 93 other Black women have raised $1 million or more in venture capital.
Every company committing to social justice needs to include mentorship as a part of their action plan. Mentorship is a proven way to propel workplace inclusion and equity, but the process of finding a high-quality mentor has historically been inequitable. Most people want a mentor, but fewer than 40 percent of people find one. Companies often find attrition rates higher among diverse talent, and turn to The Mentor Method for an affordable, easy-to-implement, scalable solution that enables diverse talent to connect, share valuable career lessons, and have support with navigating career challenges so that they are more likely to succeed, stay, and develop into empowered leaders.
The Mentor Method, whose current clients include Deloitte and the U.S. Department of Education, has a patent-pending algorithm that removes the bias in the mentorship process, leverages potential compatibility to find matches, and then features a customizable framework focused on professional development and relationship building between matches. It helps identify and sustain meaningful mentor-mentee relationships.
“What really sets us apart is our focus on sustainable relationships, because like any other important relationship, whether it be friendship, romantic or professional, you need to have a connection between both people to really learn from each other, get something out of it, and to maintain that level of engagement,” explained Janice. “Our algorithm includes the chemistry component as well as making sure that people are learning from industry leaders within their place of employment.”
“Draper Associates is proud to announce a new investment into The Mentor Method. Led by extraordinary Founder Janice Omadeke, The Mentor Method technology and methodology change corporate life, allowing the more experienced employees to bring the novices up to speed,” said Venture Capitalist Tim Draper. “We believe The Mentor Method will allow for a more engaging, supportive environment for employees everywhere.”
In addition to Draper Associates, other investors in The Mentor Method include Alumni Ventures Group, Chris Pacitti from Elsewhere Partners, MATH Venture Partners, Sorenson Impact Fund, and Backstage Capital.