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Investing in black-founded startups
From the beginning, we have strived to make our platform a place where founders can raise capital on a level playing field. And we proactively reach out to promising startups led by minority and female founders.
The result is that 50% of the deals on our platform have founders who are typically underserved by the traditional VC system.
This painful time that we are experiencing as a nation must be used as a turning point to stand together and embrace equality. We must listen, learn and commit to change.
Today we’re going to highlight two live startups on Republic with black founders. Both companies are brimming with potential, so take a look.
Fleeting is a marketplace for truck drivers and trucking companies. They make it easy for truckers to find work, and for companies to find qualified drivers.
Founder and CEO Pierre Laguerre has deep experience in the trucking industry. He previously founded his own trucking staffing company, which achieved $1 million (unaudited) in revenue within the first year. Pierre also has 11 years of experience as a CDL Class A truck driver.
Since Fleeting launched in 2019, drivers have logged 15,000 hours on the platform, and more than 1,500 loads of cargo have been delivered through the system.
Fleeting is backed by an impressive group of investors, including Quake Capital, Hustle Fund, ArlanWasHere Investments, E40, and Chamillionaire (Supreme Fund).
Fleeting recently won the grand prize of $50,000 at Harvard’s Black New Venture Competition. The prize was awarded by Khosla Ventures and General Catalyst, two of the top VC firms in the country.
You can learn more about the company on Fleeting’s deal page, and their website.
You don’t come across a startup founded by a 16 year-old every day. Yet that describes Sienna Sauce and its impressive young founder, Tyla-Simone Crayton.
Sienna Sauce sold over 25,000 bottles in 2019, with revenue of over $190,000 (unaudited). The company was profitable in 2019 (unaudited), and is reinvesting proceeds into the business.
Sienna is already available in over 50 retail locations throughout Texas. They recently shipped their first orders to 10 east coast Wegmans stores. The company plans to expand to at least 100 new stores and 7 new states by next year.
Sienna makes their sauces in 3 flavors: tangy, spicy, and lemon pepper. They can be used for glazing, marinading, barbequing, wings, and more. Sienna doesn’t use high-fructose corn syrup, and only uses “a touch of sugar”.
Sienna Sauce has won multiple awards, including the “Best Sauce” award in the 2018 and 2019 Sauce-A-Holic Fest.
Founder Tyla-Simone’s entrepreneurial spirit has been a hit in the media. She has been interviewed on major programs including Inside Edition, Good Morning America, NowThis, and many more. Sienna has also received $35,000 in funding from startup pitch competitions.
Learn more and invest in Sienna Sauce on their deal page. If you want to try the sauces, visit SiennaSauce.com. Use promo code “Republic” for 10% off your order!