Return on Inclusion | July 14, 2022

Five Black tech founders join Northwestern Mutual’s accelerator

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, July 14 — Among the startups in the new cohort are Nashville-based Xcellent Life, which helps identify health issues through an AI-based digital health platform; Atlanta-based Pruuvn, which is developing blockchain-based tools to support gig workers; and New York-based SnapRefund, which processes digital claims for insurers and small businesses.

The common thread: “Drive to help people live longer, better and healthier lives across financial services, insurance and digital health,” said Northwestern Mutual’s Craig Schedler.

Each founder will receive an investment of $100,000, a 12-week program and access to Northwestern Mutual’s network of venture partners and mentors. 

Return on inclusion

The accelerator program, launched last year by Northwestern Mutual and gener8tor, so far has backed 10 founders. Northwestern Mutual tapped its $270 billion general account to create a $100 million impact fund to support Black fund managers. Earlier this year, the financial services giant invested in a pair of Black-led lenders in its hometown Milwaukee.