Braze has expanded its product grant initiative, formerly known as Tech for Black Founders, now rebranded as Tech for an Equitable Future. This program aims to assist 20 companies led by underrepresented founders, including those from Black and women entrepreneurs, by providing them with 12 months of complimentary access to Braze technology and essential resources, fostering business growth and scalability.
"We are proud to announce the expansion of our successful product grants program to help further level the playing field for marginalized founders. With equity serving as a cornerstone of our social impact initiatives at Braze, we remain steadfast in our commitment to diversity, equity, and inclusion. With the next chapter of Tech for an Equitable Future, our aim is to continue to create opportunities that catalyze business growth by fostering a more inclusive and equitable future," said Rod McLeod, VP of Social Impact at Braze.
Fostering inclusivity
The decision to rename the program reflects Braze's focus on creating a more inclusive future, addressing the stark realities revealed by 2022's venture capital landscape. Shockingly, only 1% of founders backed by venture capital in the United States are Black, while companies founded solely by women received a mere 2% of the total capital invested in VC-backed startups. Braze currently supports 24 Black-founded businesses, including 10 women-founded startups, actively contributing to a total annualized Braze product value of $735,000 within the program.
To be eligible for this initiative, applicants must fulfill specific criteria. The program targets underrepresented-founded companies, encompassing those with Black and women founders, across regions including APAC, Canada, EMEA, and the U.S. Additionally, businesses must be bootstrapped or have less than $30 million in VC funding, maintain a workforce of fewer than 100 employees, and possess compatible SDKs and adequate Engineering/Marketing resources.
Braze's technology offers recipients the ability to capture, analyze, and act on customer data, enabling them to engage customers across various channels and create personalized experiences. For the 20 selected businesses, the program encompasses a host of benefits, including free platform access for a year, with potential renewal at discounted rates based on business qualifications during renewal.
The package also includes onboarding services, unlimited push notifications, webhooks, and in-app/in-browser messaging for up to 250,000 Monthly Active Users, covered email costs for up to 10 million emails and two IP addresses, a dedicated Customer Success Manager, as well as participation in virtual founder event programming and digital community spaces for networking with fellow program participants, and more.
“Joining the Tech for an Equitable Future program has enabled us to scale our customer communications with Braze, a leading provider in the market, in order to drive stronger business outcomes. Leveraging Braze, we’ve been able to improve our customer experience and boost retention through personalized and streamlined messages to our users, despite having limited marketing resources,” said Mandy Bowman, Founder and Chief Executive Officer of Official Black Wall Street.
Not too long ago, Braze unveiled innovative products to enhance brands' ability to connect with consumers more personalized and effectively.
