Announces $3.7M in seed funding from Springbank, Alleycorp Impact, Impact Engine, and Atlassian Ventures
NEW YORK, Oct. 13, 2022 /PRNewswire/ — Dandi Technologies, the analytics platform for advancing diversity, equity, and inclusion (DEI) in the workplace, emerged from stealth today. The company unveiled a first-of-its-kind DEI analytics solution used by people leaders to pinpoint equity gaps in the employee journey and implement data-driven solutions to workforce diversity challenges. The company also announced $3.7M in seed funding led by Springbank and Alleycorp Impact to increase the number of people the platform positively impacts globally.
“We believe Dandi can revolutionize the way companies recruit, retain, and compensate their people,” said Jeff Fernandez, Dandi CEO and Co-Founder. “Without the right data, people and businesses are left facing the same ‘unsolvable’ DEI problems year after year, while demands for racial, social, and financial justice from employees, investors, and regulators only grow stronger. Our platform is putting DEI analytics capabilities and insights directly into the hands of more leaders across organizations and making them easy to understand. You don’t need to be a data scientist to use Dandi.”
Developed by data, design, and DEI veterans working closely with a group of DEI advisors, the Dandi platform is underpinned by advanced machine learning and makes powerful, realtime DEI data easily available and actionable for every company. With Dandi, organizations can:
- Aggregate and analyze existing HR data to generate millions of DEI insights across the employee lifecycle, including recruiting, hiring, promotions, retention, and everything in between.
- Leverage intersectional measurement along with sophisticated wage gap analysis to see how interactions between race, ethnicity, gender, age, sexuality and more impact compensation and take meaningful steps toward pay equity.
- Integrate Dandi with most leading HR platforms, including Workday, ADP, SAP, Oracle, Greenhouse and Taleo, to easily see how factors like age, gender, LGBTQIA+ status, and marital status influence key metrics.
- Give C-suite executives quick and easy access to critical DEI metrics, updated in real-time, through an Executive Dashboard.
- Generate custom-branded presentations and export to Google Slides, Powerpoint, and more with a single click.
- Share easy-to-understand visualization and detailed reports to shine a light on equity gaps so the right people can take action.
Employee turnover due to racial bias and unfair treatment has cost U.S. employers $171.9 billion over a five year period, according to research from the Society for Human Resources Management. Despite public commitments to DEI from companies in recent years, barely half of the largest U.S. companies share workforce diversity data. Moreover, only 11% report intersectional data – the gold standard for demographic data reporting. The large majority of companies do not have reliable, accurate measures for bias in place.
“With existing tools, it’s nearly impossible to operationalize the concept of intersectionality. Dandi changes everything by allowing companies to see how these intersections affect the employee journey and take action,” said Lily Lamboy, Director of Diversity, Equity & Inclusion at Blue Shield of California.
Dandi has an established roster of customers including Fortune 100 organizations like Blue Shield of California, publicly-traded companies such as Oscar Health and Braze, and fast-growing technology companies like Teachable and Care/Of (acq. by Bayer). Dandi is quick to deploy and affordable: starting at only $15 per employee per year, it’s priced to work for businesses of every size.
In addition to Springbank and Alleycorp Impact, investors including Atlassian Ventures, Impact Engine, Uncommon Denominator, AAF, and Heirloom VC joined in funding Dandi’s seed round. As a result of the round, Courtney Leimkuhler, Founder and Managing Partner at Springbank, has joined Dandi’s board of directors.
“Dandi is creating the instrumentation for the workforce of the future. As more firms commit to DEI and as more regulators around the world demand the data to prove it, Dandi is providing essential tools for leaders and their teams. Jeff and the team have an impressive track record and vision, and I’m personally thrilled to be part of their mission,” said Leimkuhler.
“AlleyCorp Impact is proud to co-lead this round and collaborate with its passionate, mission-driven team to position Dandi to be a vital solution in the arsenal of every company that is serious about building an equitable workplace,” said Tanya Beja, General Partner at AlleyCorp Impact.
“Dandi is building the analytics tools to create a more equitable workplace for all teams. We’re excited about its growth trajectory as more companies prioritize building data-driven DEI programs. Dandi’s mission is deeply aligned with Atlassian’s values and we look forward to supporting the Dandi team as it makes powerful demographic data actionable for Atlassian’s 200,000+ cloud customers around the world,” said Matt Sonefeldt, Head of Atlassian Ventures.
For more information about Dandi, visit www.itsdandi.com.
Dandi is the analytics platform for advancing diversity, equity, and inclusion (DEI) in the workplace. Businesses use Dandi to see—often for the first time—how they recruit, retain, and compensate their people, giving them the insights they need to pinpoint equity gaps and advance their DEI efforts. Through a team of DEI experts and an extended partner network, Dandi also offers the support businesses need to navigate the challenges of becoming fair and equal workplaces. Founded in 2017 by HR, DEI, data and design veterans, Dandi’s mission is to make business better for everyone. Dandi is built by a distributed team with headquarters in New York City and Stockholm, Sweden.
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SOURCE Dandi Technologies