The youngest Black women to raise more than $1M in VC funding - Business Insider

cofounders Arnelle Ansong and Erika Hairston knew from the get-go that only a miniscule amount of U.S. venture capital funding goes to startups run by people of color — just 2.6% has has gone to Black and Latinx founders in 2020, according to"I created almost a language translation," Hairston told Business Insider.

Edlyft is a tutoring platform for computer science. For a monthly fee of $60, college students can be placed in a small group tutored by a student who has taken the relevant course before. Students can attend multiple study sessions each week, and ask the tutor questions at any time through Edlyft's platform.

To get through those courses they formed supportive study groups and found mentors. After graduating, they realized those same tools could be used to help other students. Hairston "trained her brain" to recognize preventative questions and answer them like they were promotional questions. She went so far as to create a list of common preventative questions and their translated promotional cousins, which she shared with Business Insider.

"I got to a point where when I was getting ready to pitch, I was nervous, I was scared," Hairston said. "I didn't want to pitch because I didn't want to hear another no." "I actually ended up getting an introduction, from someone who gave me an introduction, from someone who gave me an introduction, and that fifth person is the one who ended up investing," Hairston said. "I think it would have been very easy to give up on the third or the second round of going through people."Between opening their round and closing it, Ansong and Hairston went through 36 variations of their pitch deck.

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