Return on Inclusion | February 14, 2024

Beta Boom scores $14.5 million to back ‘under-the-radar’ founders

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, February 14 — Since 2018, Beta Boom has backed two-dozen founders developing software solutions for critical issues underserved communities face. The majority of founders in Beta Boom’s portfolio are women and people of color who graduated from non-Ivy League schools and are based outside of hubs like Silicon Valley.

“Many of our founders tell us that Beta Boom is the first time they feel like they’ve been taken seriously — which is both encouraging and disconcerting at the same time,” said Beta’s Sergio Paluch. These are “founders who are intimately connected to the problem they are trying to solve [and] have the power to become the next generation of unicorn founders – if given the opportunity.”

Returns on inclusion

Beta’s second venture fund, which is backed by LPs including Melinda Gates’ Pivotal Ventures, Ally Bank and Bank of America, will double down on Beta Boom’s inclusive sourcing strategy. “We see the greatest needs and opportunities in fintech, digital health, and the future of work,” said Beta’s Kimmy Paluch.