# Kanarys

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kanarys

- Industry: Information Services
- Headquarters: Dallas, US
- Website: www.kanarys.com
- Total disclosed funding: $6.6M
- Latest round: Series A (Sep 23, 2022)
- Investors on record: 12

## About

Based in the US, Kanarys, Inc. specializes in data-driven tools and services that promote inclusive workplace cultures, helping organizations assess and improve their diversity and inclusion strategies.Kanarys, Inc. was founded in 2018 and operates out of Dallas, US. The company provides innovative solutions geared towards enhancing workplace inclusion and safety. The founders, Mandy Price and Star Carter, have a history of leadership in the diversity and inclusion space. Recently, Kanarys raised USD 4.87 mn in a Series A funding round on September 23, 2022, led by Seyen Capital, with participation from investors including Portfolia and Revolution Ventures. This funding round represents the total amount raised by the company, which is currently valued at USD 18.50 mn.Kanarys offers a comprehensive suite of data-driven tools and services designed to foster inclusive workplace cultures. Their core offerings include the Inclusion and Belonging Assessment (IBA) and the Equity Organization Audit (EOA), which utilize scientifically validated measures to evaluate critical aspects of workplace inclusion, safety, and employee experiences. These assessments enable organizations to identify gaps in their inclusion strategies, benchmark their efforts against industry peers, and implement tailored action plans. Key clients typically include medium to large enterprises across various sectors such as technology, finance, and education, who seek to enhance employee engagement and retention. Primarily available in North America, Kanarys plans to expand into international markets to address the complex needs of diverse employee demographics.Kanarys operates primarily on a subscription-based revenue model, providing clients with ongoing access to their analytical tools and services. Clients typically engage in annual contracts that include a combination of assessments, benchmarking reports, and customized recommendations to improve workplace inclusivity. The pricing structure reflects the value of their flagship services, allowing organizations to scale their engagement based on the size of their workforce and specific needs. Transactions are structured as B2B services, where organizations collaborate with Kanarys to integrate insights into their HR strategies and policies. As clients implement Kanarys’ recommendations, they are positioned to achieve measurable improvements in employee satisfaction and retention, reinforcing the value proposition of the company's offerings.In September 2022, Kanarys, Inc. raised USD 4.87 mn in Series A funding led by Seyen Capital, with participation from Portfolia, Rackhouse Ventures, Revolution Ventures, StartFast, Tech Square Ventures, and TechNexus Venture Collaborative. The company will utilize the funding to grow its team and expand its market offerings. Plans include the design and launch of upcoming products aimed at enhancing their service portfolio, with specific timelines yet to be announced. Additionally, Kanarys aims to penetrate new geographic markets beyond North America, targeting specific regions to be identified in line with their growth strategy.

## Funding rounds

- Series A, Sep 23, 2022, $4.9M — Seyen Capital, Revolution Ventures, Tech Square Ventures, StartFast, Portfolia, TechNexus Venture Collaborative, Rackhouse Venture Capital
- Seed, Feb 12, 2021 — Tech Square Ventures
- Seed, Dec 15, 2020, $1.8M — Morgan Stanley Investment Management, Revolution Ventures, Segal Family Foundation, Black Angel Tech Fund, Repeat VC, Zeal Capital Partners

## Investors

- Morgan Stanley Investment Management — Seed
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed, Series A
- Segal Family Foundation — Seed
- Black Angel Tech Fund (https://capitalatlas.ai/funds/black-angel-tech-fund) — Seed
- Repeat VC (https://capitalatlas.ai/funds/repeat-vc) — Seed
- Zeal Capital Partners (https://capitalatlas.ai/funds/zeal-capital-partners) — Seed
- Tech Square Ventures (https://capitalatlas.ai/funds/tech-square-ventures) — Seed, Series A
- Seyen Capital (https://capitalatlas.ai/funds/seyen-capital) — Series A
- StartFast (https://capitalatlas.ai/funds/startfast) — Series A
- Portfolia (https://capitalatlas.ai/funds/portfolia) — Series A
- TechNexus Venture Collaborative (https://capitalatlas.ai/funds/technexus-venture-collaborative) — Series A
- Rackhouse Venture Capital (https://capitalatlas.ai/funds/rackhouse-venture-capital) — Series A