Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Capital on the Frontier Best Practices Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Jay-Z and Kapor Capital join $3 million financing of “de-carceration” startup Promise



On any given day more than 450,000 people, innocent until proven guilty, are in jail awaiting trial in the US. Those that face nonviolent charges but can’t afford bail are disproportionately black and Latino.

Promise, based in Oakland, California, offers an alternative to the current bail system. It is in talks with local government to use its platform, which works with defendants to be sure they appear at court dates, undergo drug testing and treatments, get to classes and meet other obligations.

“We can’t fix our broken criminal justice system until we take on the exploitative bail industry,” writes musician and producer Jay-Z, whose Roc Nation joined First Round Capital, Kapor Capital, and 8VC to invest in the Y Combinator startup. Promise charges towns and counties as little as $17 per person per day, compared to $85 or more per day for jail time.

Other startups, including Pigeonly andEdovo, are tackling family connectivity and education for incarcerated individuals.

You might also like...