More black women are running startups, but their funding still lags

by Sara Ashley O’Brien   via http://money.cnn.com

The number of black women who have founded tech startups has more than doubled since 2016, a new report found.

Now for the bad news: They continue to have trouble raising money from investors.

The report, called ProjectDiane after black civil rights leader Diane Nash, found more than 225black women-led startups in the United States, up from fewer than 90. The study was done by a group called digitalundivided, a nonprofit that supports black and Latina women in tech, entrepreneurship and startups.

The report, which follows up on an earlier one, revealed that just 4% of all female entrepreneurs running tech startups in the United States are black women.

Funding raised by black female founders was up 500% to $250 million from the previous report. But the average amount raised is just $42,000. By comparison, the average initial round of …

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