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Lauren YoungDiverse teams build better businesses1.
To further support this statement, we have found that aggregating data from 100+ scaling tech companies helps many of them level up their internal processes and support levers. For example, in 2020 we saw that 80% of participating companies did not collect demographic data from their employees. In 2022, 62% of participating companies noted they do collect it.
In pursuit of data to further support our portfolio companies and the broader tech ecosystem with their diversity efforts, this January, we launched our 4th Annual Diversity, Equity and Inclusion Survey. This year’s goal was to provide portfolio-wide benchmarks around leadership and board diversity representation, as well as understand where our portfolio could use some support.
We asked each participating company to share:
We received responses from 77 companies, ranging from Seed-stage with less than 5 employees up to public companies with a global footprint and employee base. Below are some key findings:
Encourage companies to share more metrics
Provide More Resources for Internal Processes
Facilitate More Cross-Company Connectivity
Finally, last year we started to create a diagram of DEI Benchmarks based on funding round. In collaboration with CultureAmp, the below four categories summarize what most companies at each stage of funding are actively doing to support a more diverse and equitable environment. This year, we added on the horizontal layer of how USV, and other firms can directly make an impact.
USV’s diversity, equity, and inclusion efforts are constantly developing and we are working on not only supporting our community but also making sure that we, as a firm, prioritize DEI on all fronts.