DocSend Report Shows Funding Gap Widens, Underrepresented Founders Hit Hardest by the Venture Slowdown
Female and minority founders spent the most time fundraising to raise the least amount of money
SAN FRANCISCO, June 5, 2024 /PRNewswire/ — Racially diverse, all-female startup founding teams spent the longest time fundraising in 2023 at an average of 25 weeks — a 75% increase year-over-year (YoY) — raising the least money of all demographics, an average of $460K. Although all demographics raised less in 2023 than years prior, underrepresented founders faced the most adversity.