Google Selects EdVisorly for 2024 Black Founders Fund
Google selects 20 artificial intelligence (AI)-focused startups and their founding teams to join the 2024 Black and Latino Founders Fund.
(Los Angeles) – July 2, 2024 – EdVisorly, a startup focused on empowering community college students to transfer to 4-year colleges and universities, announced that it will join the fifth cohort of the Google for Startups Black Founders Fund.
The only edtech startup in the 2024 Google Founders Fund cohort, EdVisorly will receive $150,000 in non-dilutive cash awards, $100,000 in Google Cloud credits, and hands-on mentorship from Google experts across artificial intelligence (AI), sales, marketing, and more to help build and scale the company. In addition to the generous funding and resources provided, the founding team receives wrap-around support from both Goodie Nation and Google For Startups.
“Our team is beyond grateful to be selected for the Black Founders Fund to advance our vision for community college to university transfer across the United States. Google’s investment has expanded EdVisorly's capacity to deliver industry-leading AI, designed with and for our innovative higher education institutional partners,” said Manny Smith, Founder & CEO. “As EdVisorly continues to expand our services to community college students and universities, we are paving pathways of equity and opportunity that will ensure that students from all backgrounds have the opportunity to be as great as their dreams.”
Black founders in 2023 received less than 0.5% percent of the $140.4 billion in total VC, despite being 13% of the U.S. population.
"This year’s Google for Startups Founders Fund cohort includes incredible founders who are using AI to help tackle some of today’s most pressing issues,” said Danny Navarro, Google for Startups. “We are inspired by EdVisorly’s mission of expanding equitable pathways to higher education, and are excited to welcome its incredible founding team into our community."
A highly selective program, the Google for Startups Black and Latino Founders Fund to date has provided Black and Latino founders around the world with more than $50 million in funding, and participating founders have gone on to raise over $590 million.
Smith is a first generation college student who served as an officer in the U.S. Air Force, and continues his commitment to service through EdVisorly, stating “I truly believe that the progress we are making by building bridges for talented and motivated students is foundational for the long term success of our nation.”
About EdVisorly
EdVisorly is revolutionizing the higher education access and enrollment landscape by connecting community college students and 4-year university enrollment teams to increase transfer admissions success and bachelor's degree completion. We empower our partner college and university admissions teams with an Artificial Intelligence (AI) enabled end-to-end transfer enrollment platform, streamlining student recruiting, transcript and credit evaluation, and the application process.
Google for Startups Key Messages
- Recent Crunchbase data found Black-founded startups received less than 0.5% of the $140.4 billion in venture funding all U.S.-based startups received last year.
- Since 2020, Google for Startups has been helping level the playing field via its Black Founders Funds, which aids Black tech entrepreneurs in overcoming the disproportionate hurdles they face when raising capital. Within months of receiving Google's funding, that first group of recipients went on to raise millions in subsequent follow-on funding, often crediting Google's funding as a powerful driver of additional investment.
- Google believes AI can enable startups to build transformative products and solve complex challenges, but founders need access to capital to realize this potential.
- To help, Google for Startups (GFS) is announcing 20 new Black and Latino Founders Fund recipients. For the first time, all recipients are founders who are leading AI-powered or AI-augmented companies. These companies are demonstrating traction, growth, and the positive impact AI can have in business and society.
- Each founder receives $150,000. These are non-dilutive, cash awards. Black and Latino entrepreneurs are consistently locked out of access to early capital. These awards will allow founders to grow their business with no strings attached.
- With these funds, Google for Startups is also committing to building relationships with the founders and bringing them the best of Google’s resources. In addition to the capital, founders will receive resources including $100K in Google Cloud credits, free mental wellness sessions, and more.