Premoney 59: Divercity & Autio

Welcome to week 59!

🌿 Another call for green-tech start-ups 🌿

In my last issue, I issued a call for more green-tech startups to apply and be featured on Premoney.

I was, admittedly, a bit ignorant thinking that I’d immediately understand, identify and access high quality green tech opportunities. Lot’s to learn here, but my goal remains the same: I aim to feature at least one green-tech company in each upcoming Premoney issue and begin supporting the green tech ecosystem.

The current issue does not fulfill this goal, but note that I’m actively working on this.

Ask: Reply to this email if you…

• Know founders building in greentech, agtech, foodtech etc. (or shoot over an intro)

• Have experience investing in or building in greentech

• Want to talk about how else Premoney could have the most impact in the greentech space.

Nevertheless, I’m extremely excited about the companies featured today, both of which have consistent, strong revenues & important missions that are solving real issues. Enjoy, & happy investing!

This weeks companies:

Company: Autio

Founder: Woody Sears

Raise Details: Raising $4M priced equity round, $900k left, $20M pre-money valuation

• Lead by iHeartMedia Ventures

• Participation from AAA, Snap, Camping World Ventures, Pasadena Angels and others.

Vertical: Travel, AR/VR

Business Model: Subscription

1-Liner: Location-based audio stories for travel.

Description: Autio is a mobile audio entertainment app for travel that uses geolocation technology to automatically play stories of landmarks, cities & towns nearby. The app features 9000+ stories spanning the US. Many of these stories are narrated by some of your favorite voices like Kevin Costner, John Lithgow & Phil Jackson. Autio launched to the public in 2020 & has been featured in Forbes, TechCrunch, NBC, Business Insider, Travel + Leisure & Goop. The app is often ranked in the top 5 highest-grossing apps for travel in the Apple App Store & won the Webby for Best Travel App. In addition, it has been featured as App of the Day by Apple.

💰 Traction Indicators:

• $2M ARR Run Rate

• 500K Downloads

• Webby Award for Best Travel App

• Enterprise pipeline includes Ford, VW, Virgin Travel, National Heritage Areas

Founder: Chuka Ikokwu

Raise Details: Raising $2M on $9M pre-money SAFE

• Current investors include Techstars, Bessemer Venture Partners, and Debut Capital.

Vertical: Future of Work, Analytics, Human Resources, Inclusion, SaaS

Business Model: SaaS, Subscription

1-Liner: Divercity.io helps companies accurately measure and track their diversity breakdown and helps them improve it by connecting them with qualified diverse talent.

Description: Lack of diversity costs the tech industry $16B annually. Plus, Companies trying to attract and hire a more diverse workforce are challenged by having to manually scanning through thousands of candidates of all races, genders, and ethnicities, with no ability to easily identify the desired talent pool. Keeping track of their own current diversity breakdown and how it compares to the industry gets more difficult as the company grows. Yet, most small and medium businesses cannot afford the sophisticated automation tools to do the required analysis. This is where we come in.

Divercity is a DEI measurement and recruitment tool that provides candidate sourcing resources to save recruiting professionals time and money in identifying diverse and underrepresented candidates. Our diversity score function measures the makeup of your current team, candidate pipeline, competitors, and industry, highlighting where to focus for talent acquisition.

Overall, our tool reduces the time needed for candidate sourcing by 4 to 6 hours per position and helps companies save millions in reduced employee attrition costs. It compliments existing HRIS and applicant tracking systems with easy integration.

💰 Traction Indicators:

• Over 400 companies on our platform

• $500K+ in revenues over last 18 months

• $250K ARR in Sales Pipeline

• Accolades:

  • Techstars ‘21 Company

  • Google for Startups ‘22 Company

  • Featured as Top HR-Tech Company 2022 by HR Tech Outlook Magazine

  • Recipient of DotCom Magazine 2022 Impact Company of the Year award

That’s all for this week!

Jake