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Shoobx Expands Underrepresented Founders Grants Program to Make Equity Management More Equitable

Thursday, June 16, 2022 8:00 AM

Program offers grants and additional resources to empower all entrepreneurs and reduce obstacles as they start and build companies.

BOSTON, MA / ACCESSWIRE / June 16, 2022 / Shoobx, the company that fully automates all startup equity management operations and financings in a single collaborative hub, has expanded its Underrepresented Founders Grants Program, an initiative that offers grants and additional benefits to entrepreneurs across the startup landscape.

The program was born out of Shoobx's mission to make equity management more equitable, and involves grants that cover subscription fees for the company's software platform and other resources. Shoobx invites companies to apply for their program if founding members identify as underrepresented in the startup community - whether because of gender, race, sexual orientation, disability, or other factors.

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Grant recipients can qualify in one of two categories based on their fundraising history. Startups that have raised less than $1 million in funding are eligible to apply for a grant toward their first-year Shoobx subscription, with no onboarding fees. Companies that have raised between $1 million and $5 million can apply for a grant of up to 50% toward their first-year subscription fee, also with no onboarding cost.

Eligible startups will also receive additional benefits from the program, including:

  • Brand exposure: Feature in Shoobx press releases, content, and newsletters.
  • Partner offers: Receive Shoobx-only offers from partners & service providers.
  • Expert insights: Access insights from community experts - investors, founders, lawyers, accountants - through Shoobx's robust event calendar.
  • Community enrichment & training: Network with companies and organizations that, partnered with Shoobx, are committed to providing resources and workshops to the underrepresented founder community.

Shoobx's team, led by Founder & CEO Jason Furtado, aims to knock down obstacles that underrepresented founders often face when starting companies and raising money. "I can't speak for the experience of others, but as the son of immigrants, I saw what it was like for my parents to be surrounded by people that seemed to know a secret set of norms that they were trying to decipher without a guide," Furtado said. "There are a lot of parallels to the startup ecosystem. As I spent time talking to founders, attorneys, and investors, I realized that there were some pretty wild explanations given of how people judge founders, how they should act, and what they should know. Shoobx's Underrepresented Founders Grants Program can provide resources to founders to demystify how to get started - and educate them on what to expect."

Recipients of the Underrepresented Founders Grants Program will gain access to Shoobx's entire suite of equity management solutions, designed to automate all equity management operations and financings, bring together startup leaders, lawyers and investors into a single, collaborative hub, ultimately enabling them to fundraise faster and stay financing-ready. The platform automates the updates and organization of important data and documentation, with capabilities such as a dynamic cable table linked to company documents, an automated data room, and scenario modeling.

A community of diverse founders and startup leaders have already participated in the Underrepresented Founders Program. The network includes entrepreneurs from companies such as healthcare platform Antara Health, behavioral healthcare company Clay, and sexual wellness retailer Unbound.

Christina Logsdon, Head of Marketing at Shoobx, added, "We've already seen some incredible entrepreneurs and companies incorporate Shoobx into their journey to startup success. The roadmap for underrepresented founders isn't always clear, but having access to the right tools and expertise is a great way to start. I'm proud to be part of an organization that wants to make an impact in the startup community, and I'm looking forward to meeting more game-changing entrepreneurs through the expansion of this program."

Visit Shoobx.com to apply for and get involved in the Shoobx Underrepresented Founders Grants Program.

About Shoobx

Shoobx is an equity management company that is reshaping how private companies get started, raise capital, and exit. By focusing on data integrity and risk reduction, Shoobx's flexible platform streamlines everything from employee onboarding to issuing equity grants to maintaining a dynamic cap table, enabling companies to grow rapidly while staying financing-ready. Thousands of startup leaders, investors, and attorneys rely on Shoobx to get paperwork right the first time and make legal diligence fast and easy.

Automate your next round at shoobx.com.

Media Contact:

Cassandra Cattabriga
York IE
[email protected]

SOURCE: Shoobx, Inc.

Topic:
Diversity̡ Equity and Inclusion
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