Kristina Jones just became the 14th ever African American female founder to raise $1 million or more for her startup.
She is the co-founder of Court Buddy, a legal tech startup that instantly matches consumers with vetted solo attorneys based on the client’s budget. In the US alone, millions of Americans go to court each year without proper representation due to finances and firms go without clients. Thru her app, she is bridging together the two problems in order to solve a greater good.
On average, African American women receive a mere 0.2% of overall venture capital dollars when it comes to entrepreneurship. The average dollar amount, which is $36,000, is compared to the average $1.3 million that is given to the typical white male founded startup company.
Together with her husband, James Jones, they were able to overcome the odds and provide hope to other African American entrepreneurs. In her interview with Forbes she stated:
“To be honest, I actually think being an African American woman worked to my advantage,” she told Forbes. “I think that being the cofounder of a sound, fast-growing business that has revenue and a growing number of users, and that I just happen to be African-American and a woman, helped. “
“As women, we tend to undersell our power and the success of our businesses, which can hurt us in situations where investing is involved,” she added. “For minority women, we need to understand that we do have a seat at the table and it’s about believing in ourselves and not letting a “no” stop us from moving forward.”
- Get out of the building and make sure to meet as many founders as you can that have successfully fundraised. You should seek out their advice, and also ask for introductions. Investors love intros from founders that they have already invested in.
- If you are currently fundraising, force yourself to reach out to many investors. For a successful raise, understand that it is a numbers game.
- A lead investor changes everything. Make sure you get a lead investor that you believe in, who will fight for you, and who has relationships with other investors.