Victorian startup Diversity Atlas, a diversity, equity, and inclusion (DEI) data analytics platform, has secured $6 million in a bridge round.
The capital came via Canadian impact investment platform Gener8 VC.
The Melbourne-based startup is looking to double the size of its current team of 35 as it expands into new markets in the EU and North America. It’s already being used in 40 countries across the globe.
Diversity Atlas emerged out of Cultural Infusion, with the kernel of the idea starting with R&D in 2016 before launching in 2019. Two years later, the startup began working with Amazon to help AWS understand and engage its global workforce, using the platform. Diversity Atlas is now recognized as the first step to inclusion in the AWS Inclusion Playbook.
The platform gives companies and their leadership teams an overview of the organization’s cultural diversity makeup to drive change, build engagement and reach ESG goals.
Founder and CEO Peter Mousaferiadis, who also founded Cultural Infusion in 2002, said Diversity Atlas is built from scientific, peer-reviewed research by a team of data engineers, anthropologists, and other subject matter experts over 7 years. It’s being used by organizations globally ranging in team size from 50 people to more than 1 million at Amazon.
“We are excited to officially announce this funding round, to support the high-growth period we are currently experiencing at Diversity Atlas,” Mousaferiadis said.
“Diversity in the workplace has never been more relevant, and having robust data allows companies and organisations, big and small, make intelligent decisions and foster sustainable growth for their company and team.”
Gener8 VC founder Kurt Menzies said Diversity Atlas owns the largest dataset of its kind, with over 45,000 human identity data points, and is able to offer businesses more trustworthy and granular data about their company.
“At Gener8 VC we are focused on investing in the changemakers of tomorrow,” he said.
“Diversity Atlas is a great example of how data can foster a positive work environment to support positive economic growth.”