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@cbinsights www.cbinsights.comDiversity Data Roundtable
Data Driving Important Discussions
Wednesday, June 3rd 2015
Divers...
@cbinsights www.cbinsights.comDiversity Data Roundtable
Hi. My name is Jonathan Sherry.
I’m Co-founder at CB Insights.
You...
@cbinsights www.cbinsights.comDiversity Data Roundtable
@cbinsights
About CB Insights
Backed by the National Science Found...
@cbinsights www.cbinsights.comDiversity Data Roundtable
See what other customers have to say at
http://www.cbinsights.com/...
@cbinsights www.cbinsights.comDiversity Data Roundtable
“In God we trust, all
others bring data”-William Edwards Deming
@cbinsights www.cbinsights.comDiversity Data Roundtable 6
Venture Capital Human
Capital Report
A data-driven look at the r...
@cbinsights www.cbinsights.comDiversity Data Roundtable 7
IN THE NEXT 20-30 MINUTES, WE’LL COVER…
1 Report Background
Rati...
@cbinsights www.cbinsights.comDiversity Data Roundtable
REPORT BACKGROUND
Rationale behind this report and methodology app...
@cbinsights www.cbinsights.comDiversity Data Roundtable 9
“We invest in teams”
- words of wisdom spoken by any self-respec...
@cbinsights www.cbinsights.comDiversity Data Roundtable 10
DATA SET & METHODOLOGY
How we compiled the Human Capital Ventur...
@cbinsights www.cbinsights.comDiversity Data Roundtable
RACE
Founder composition and funding raised by race, including
Whi...
@cbinsights www.cbinsights.comDiversity Data Roundtable 12
RACIAL COMPOSITION: U.S. POPULATION VS. FOUNDERS
A picture says...
@cbinsights www.cbinsights.comDiversity Data Roundtable 13
87% OF FOUNDERS ARE WHITE
Asians comprise second largest contin...
@cbinsights www.cbinsights.comDiversity Data Roundtable 14
NATIONAL: ALL-ASIAN TEAMS RAISE THE MOST $
89% of founding team...
@cbinsights www.cbinsights.comDiversity Data Roundtable 15
STATES: CALIFORNIA MOST DIVERSE
Cali sees highest proportion of...
@cbinsights www.cbinsights.comDiversity Data Roundtable
AGE & EXPERIENCE
Founder composition and funding raised by age ran...
@cbinsights www.cbinsights.comDiversity Data Roundtable 17
NATIONAL: WUNDERKINDS NOT THE NORM
Average founding team is 35 ...
@cbinsights www.cbinsights.comDiversity Data Roundtable 18
STATES: NEW YORK AND MASS BETTER FOR WHIZ KIDS
Mass companies a...
@cbinsights www.cbinsights.comDiversity Data Roundtable 19
WANTED: EXPERIENCED FOUNDERS
39% of founders were formerly CEOs...
@cbinsights www.cbinsights.comDiversity Data Roundtable
EDUCATION
Founder composition and funding raised by educational
ba...
@cbinsights www.cbinsights.comDiversity Data Roundtable 21
UNDERGRAD: 47% OF FOUNDERS ACROSS 5 STATES
New York is top loca...
@cbinsights www.cbinsights.comDiversity Data Roundtable 22
UNDERGRAD: CORNELL & STANDFORD TOPS
The Ivy League is well repr...
@cbinsights www.cbinsights.comDiversity Data Roundtable
Massachusetts
24%
California
21%
New York
8%
France
5%
Illinois
5%...
@cbinsights www.cbinsights.comDiversity Data Roundtable 24
GRAD: HARVARD, STANFORD, MIT OUTPACE FIELD
With exception of Ha...
@cbinsights www.cbinsights.comDiversity Data Roundtable 25
~2/3 OF TEAMS HAVE 1+ FOUNDERS W ADV DEGREES
Majority of the co...
@cbinsights www.cbinsights.comDiversity Data Roundtable
GENDER
Founder composition and funding raised by gender
26
@cbinsights www.cbinsights.comDiversity Data Roundtable 27
92% OF FOUNDERS ARE MALE
Of the Big Three States, Massachusetts...
@cbinsights www.cbinsights.comDiversity Data Roundtable 28
MOST FOUNDING TEAMS ALL MALE; MIXED GETS MORE $
87% of companie...
@cbinsights www.cbinsights.comDiversity Data Roundtable 29
MASS SEES MORE FEMALE TEAMS THAN CALI OR NY
Mixed teams raise l...
@cbinsights www.cbinsights.comDiversity Data Roundtable 30
MEN EXPECT MORE
Special thanks to
for this data
@cbinsights www.cbinsights.comDiversity Data Roundtable 31
MEN EARN MORE (BUT THE GAP IS SMALLER)
Special thanks to
for th...
@cbinsights www.cbinsights.comDiversity Data Roundtable 32
THANK YOU
Jonathan Sherry | Co-founder | @jonathansherry | jshe...
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CB Insights - Data Diversity Roundtable

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CB Insights was recently invited to present at a Data Diversity Roundtable in San Francisco which was hosted by Google. In addition to Google and CB Insights, attendees included representatives from The White House, the Kapor Center for Social Impact, NVCA, the Kauffman Foundation, Silicon Valley Bank and many others.

We presented results from our Venture Capital Human Capital report which looked at venture capital funding by race, gender, age and educational background. This presentation summarizes those findings, including data-driven analysis on funding trends as they relate to underrepresented communities in Tech.

Published in: Data & Analytics
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CB Insights - Data Diversity Roundtable

  1. 1. @cbinsights www.cbinsights.comDiversity Data Roundtable Data Driving Important Discussions Wednesday, June 3rd 2015 Diversity Data Roundtable Galvanize SF
  2. 2. @cbinsights www.cbinsights.comDiversity Data Roundtable Hi. My name is Jonathan Sherry. I’m Co-founder at CB Insights. You can call me Jon. I tweet @jonathansherry.
  3. 3. @cbinsights www.cbinsights.comDiversity Data Roundtable @cbinsights About CB Insights Backed by the National Science Foundation, CB Insights uses data science and machine learning to help our customers predict what’s next—their next customer, their next investment, the next market they should attack, the next move of their competitor or the next company they should acquire. The world’s leading global corporations including the likes of Cisco, Salesforce, Castrol and Gartner as well as top tier VCs including, NEA, Upfront Ventures, RRE, and FirstMark Capital rely on CB Insights to make decisions based on data, not decibels. To make your life easier, visit http://www.cbinsights.com ABOUT CB INSIGHTS A unique combination of data science and machine learning to help you see what’s next. ”A detailed discussion of data collection and how the company parses them is written by CB Insights’ data scientists; it convincingly tells the story of scalability and accuracy for what they call “The Cruncher.” From “Predictive Analytics And Novel Visualization Draw Customers To 'Must Have' Data” published April 8, 2015 3
  4. 4. @cbinsights www.cbinsights.comDiversity Data Roundtable See what other customers have to say at http://www.cbinsights.com/customer-love “Designed by a VC insider who truly knows the space and understands end-user needs.” Greg Bae Investments & Biz Dev Comcast Ventures Jack Leeney Portfolio Manager Telefonica Ventures “We're using CB Insights at Salesforce Ventures to analyze industry trends that are relevant to our strategy. It's helped improve our efficiency.” Matt Garratt Sr. Director, Corporate Development Salesforce Ventures “CB Insights provides our team with a holistic and thematic approach that really captures market activity….we've found CBI to have the best access for the most accurate market view.” “We have been looking for a tool that could give us the ability to track, research and identify investment opportunities. CB Insights provides this simply and in a simple, easy to use interface. The depth of information that we get is exactly what we need. Great product.” Jonathan Tudor Ventures Director Castrol innoVentures “CB Insights perfectly illustrates what I expect today from such online services to stay tuned to our fast-changing Tech Landscape. Accurate and up-to-date data mash-ups, intuitive UIs, smart data visualization capabilities and direct API access… all packaged together with straightforward pricing.” Simon Mencarelli Senior Manager, Strategic Planning Dassault Systems “CB Insights' intuitive user interface, analytical capabilities, and detailed investment information create a very powerful tool for our team's research needs.” Nate D’Anna Corporate Development Cisco A FEW OF OUR HAPPY CUSTOMERS The most publicly reference-able customers of anyone in the industry 4
  5. 5. @cbinsights www.cbinsights.comDiversity Data Roundtable “In God we trust, all others bring data”-William Edwards Deming
  6. 6. @cbinsights www.cbinsights.comDiversity Data Roundtable 6 Venture Capital Human Capital Report A data-driven look at the race, age, gender and educational backgrounds of entrepreneurs who receive venture capital financing
  7. 7. @cbinsights www.cbinsights.comDiversity Data Roundtable 7 IN THE NEXT 20-30 MINUTES, WE’LL COVER… 1 Report Background Rationale behind this report and methodology applied 2 Race Founder composition and funding raised by race, including White, Black, Asian, American Indian & other races 3 Age & Experience Founder composition and funding raised by age range and former profession 4 Education Founder composition and funding raised by educational background, including top schools and undergrad vs. advanced degrees 5 Gender Founder composition and funding raised by gender
  8. 8. @cbinsights www.cbinsights.comDiversity Data Roundtable REPORT BACKGROUND Rationale behind this report and methodology applied 8
  9. 9. @cbinsights www.cbinsights.comDiversity Data Roundtable 9 “We invest in teams” - words of wisdom spoken by any self-respecting VC at some point in his or her life time
  10. 10. @cbinsights www.cbinsights.comDiversity Data Roundtable 10 DATA SET & METHODOLOGY How we compiled the Human Capital Venture Capital Report $ Seed VC / Series A
  11. 11. @cbinsights www.cbinsights.comDiversity Data Roundtable RACE Founder composition and funding raised by race, including White, Black, Asian, American Indian & other races 11
  12. 12. @cbinsights www.cbinsights.comDiversity Data Roundtable 12 RACIAL COMPOSITION: U.S. POPULATION VS. FOUNDERS A picture says a thousand words 77% 11% 4% 1% 7% 87% 1% 12% White Black Asian American Indian Other Race Race - US Population vs. Founders (InternetSeed & Series A - Jan to June 2010) US Population (18+) Founders www.cbinsights.com
  13. 13. @cbinsights www.cbinsights.comDiversity Data Roundtable 13 87% OF FOUNDERS ARE WHITE Asians comprise second largest contingent of founders Asian Pacific Islander 12% Black 1% White 87% National- Founders' Race (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com Asian Pacific Islander 18% White 82% Cali - Founders' Race (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com Asian Pacific Islander 13% White 87% Mass - Founders' Race (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com Asian Pacific Islander 11% White 89% New York - Founders' Race (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com
  14. 14. @cbinsights www.cbinsights.comDiversity Data Roundtable 14 NATIONAL: ALL-ASIAN TEAMS RAISE THE MOST $ 89% of founding teams are composed of a single race. All-Asian founding teams raise the largest rounds $4.0 $2.3 $2.2 $1.3 All AsianPacific All White Mixed All Black FoundingTeam RacialCompositionvs. Median FundingReceived($M) (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com All Asian Pacific 5% All Black 1% All White 83% Mixed 11% FoundingTeam Demographics -Race (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com
  15. 15. @cbinsights www.cbinsights.comDiversity Data Roundtable 15 STATES: CALIFORNIA MOST DIVERSE Cali sees highest proportion of all-Asian teams. Racial composition of founding teams and amount raised show no trend across Big Three States 3% 10% 6% 14% 13% 13% 83% 77% 81% New York California Massachusetts Comparison ofFounding Team Demographics - Race (InternetSeed & Series A - Jan to June 2010) All Asian Pacific Mixed All White www.cbinsights.com $2.0 $4.4 $1.6 $0.8 $3.5 $0.8 $2.8 $3.1 $2.1 New York California Massachusetts FoundingTeam RacialCompositionvs. Median FundingReceived($M) (InternetSeed & Series A - Jan to June 2010) All Asian Pacific Mixed All White www.cbinsights.com
  16. 16. @cbinsights www.cbinsights.comDiversity Data Roundtable AGE & EXPERIENCE Founder composition and funding raised by age range and former profession 16
  17. 17. @cbinsights www.cbinsights.comDiversity Data Roundtable 17 NATIONAL: WUNDERKINDS NOT THE NORM Average founding team is 35 to 44 years old, while 26 to 34 year old teams raise the most money 18-25 4% 26-34 29% 35-44 48% 45-54 19% FoundingTeam Demographics -Average Age (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com $1.4 $2.5 $2.0 $2.4 18-25 26-34 35-44 45-54 FoundingTeam AgeComposition vs.Median Funding Received ($M) (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com
  18. 18. @cbinsights www.cbinsights.comDiversity Data Roundtable 18 STATES: NEW YORK AND MASS BETTER FOR WHIZ KIDS Mass companies are generally led by older founding teams, but do see funding to young teams as well. Funding received and average age show no clear relationship 10% 8% 38% 33% 15% 38% 49% 31% 14% 18% 46% New York California Massachusetts Comparison ofFounding Team Demographics - Average Age (InternetSeed & Series A - Jan to June 2010) 18-25 26-34 35-44 45-54 www.cbinsights.com $3.4 $2.1 $2.3 $4.3 $1.3 $2.8 $3.2 $1.2 $4.0 $3.5 $2.1 New York California Massachusetts FoundingTeam AgeComposition vs.Median Funding Received ($M) (InternetSeed & Series A - Jan to June 2010) 18-25 26-34 35-44 45-54 www.cbinsights.com
  19. 19. @cbinsights www.cbinsights.comDiversity Data Roundtable 19 WANTED: EXPERIENCED FOUNDERS 39% of founders were formerly CEOs/Founders which supports the idea that VCs back experience. Sales/Marketing and Product Mgmt/Dev are common previous roles CEO/Founder 39% Director 10% VP 9% Sr.VP 5% Manager 5% Consultant 4% Other Title 28% FormerTitle - Breakdown ofFounders (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.comwww.cbinsights.com Sales& Marketing 13% Product Management & Development 12% Engineering 11% Business Development 8% Software 6% Strategy 4% Other Role 46% FormerRole - BreakdownofFounders (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com
  20. 20. @cbinsights www.cbinsights.comDiversity Data Roundtable EDUCATION Founder composition and funding raised by educational background 20
  21. 21. @cbinsights www.cbinsights.comDiversity Data Roundtable 21 UNDERGRAD: 47% OF FOUNDERS ACROSS 5 STATES New York is top location for undergrad followed by Cali, Penn, Mass and Illinois; India largest foreign contingent New York 15% California 11% Pennsylvania 9% Massachusetts 8% India 5% Illinois 4% Other Abroad 12% Other US 36% Top 6 Locations ofUndergraduate Schools (Founders of InternetSeed & Series A - Jan to June 2010) www.cbinsights.com
  22. 22. @cbinsights www.cbinsights.comDiversity Data Roundtable 22 UNDERGRAD: CORNELL & STANDFORD TOPS The Ivy League is well represented among schools from which at least four founders emerged. Schools with strong engineering programs are also popular
  23. 23. @cbinsights www.cbinsights.comDiversity Data Roundtable Massachusetts 24% California 21% New York 8% France 5% Illinois 5% Other Abroad 13% Other US 24% Top 5 Locations ofGraduate Schools (Founders of InternetSeed & Series A - Jan to June 2010) www.cbinsights.com 23 GRAD: MASS & CALI TAKE HIGHEST HONORS Significant portion of founders with graduate degrees emerges from Mass and Cali. Grad school locations much more concentrated than those of undergrad institutions
  24. 24. @cbinsights www.cbinsights.comDiversity Data Roundtable 24 GRAD: HARVARD, STANFORD, MIT OUTPACE FIELD With exception of Harvard, Ivy League is less prevalent for graduate school when it comes to sourcing founders
  25. 25. @cbinsights www.cbinsights.comDiversity Data Roundtable 25 ~2/3 OF TEAMS HAVE 1+ FOUNDERS W ADV DEGREES Majority of the companies have founding teams that have at least one member who holds a Master’s or PhD; median funding raised shows no relation with education Less than Undergrad 3% Undergrad 33% PhD 11% Master's 53% HighestLevelof Education of Founding Team (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com $4.3 $2.2 $2.7 $2.0 Lessthan Undergrad Undergrad Master's PhD FoundingTeam's HighestLevelof Education vs. Median Funding Received ($M) (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com
  26. 26. @cbinsights www.cbinsights.comDiversity Data Roundtable GENDER Founder composition and funding raised by gender 26
  27. 27. @cbinsights www.cbinsights.comDiversity Data Roundtable 27 92% OF FOUNDERS ARE MALE Of the Big Three States, Massachusetts sees the highest proportion of female founders Female 8% Male 92% National- Founders' Gender (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com Female 7% Male 93% New York - Founders' Gender (Internet Seed & Series A- Jan to June 2010) www.cbinsights.comwww.cbinsights.com Female 6% Male 94% Cali - Founders' Gender (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com Female 27% Male 73% Mass - Founders' Gender (Internet Seed & Series A- Jan to June 2010) www.cbinsights.com
  28. 28. @cbinsights www.cbinsights.comDiversity Data Roundtable 28 MOST FOUNDING TEAMS ALL MALE; MIXED GETS MORE $ 87% of companies have all -male founding teams. While all-female and all-male teams raised similar funding rounds, mixed gender teams raised larger rounds All Female 6% All Male 86% Mixed 8% FoundingTeam Demographics -Gender (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com $4.0 $2.2 $2.2 Mixed All Male All Female FoundingTeam GenderCompositionvs. Median FundingReceived($M) (National InternetSeed & Series A - Jan to June 2010) www.cbinsights.com
  29. 29. @cbinsights www.cbinsights.comDiversity Data Roundtable 29 MASS SEES MORE FEMALE TEAMS THAN CALI OR NY Mixed teams raise larger rounds in Cali and Mass. All-female teams make up about 3% of total teams in both New York and California 7% 8% 13% 3% 3% 31% 90% 89% 56% New York California Massachusetts Comparison ofFounding Team Demographics - Gender (InternetSeed & Series A - Jan to June 2010) Mixed All Female All Male www.cbinsights.com $0.4 $4.2 $3.3 $4.5 $2.0 $1.9 $2.3 $3.5 $2.0 New York California Massachusetts FoundingTeam GenderCompositionvs. Median FundingReceived($M) (InternetSeed & Series A - Jan to June 2010) Mixed All Female All Male www.cbinsights.com
  30. 30. @cbinsights www.cbinsights.comDiversity Data Roundtable 30 MEN EXPECT MORE Special thanks to for this data
  31. 31. @cbinsights www.cbinsights.comDiversity Data Roundtable 31 MEN EARN MORE (BUT THE GAP IS SMALLER) Special thanks to for this data
  32. 32. @cbinsights www.cbinsights.comDiversity Data Roundtable 32 THANK YOU Jonathan Sherry | Co-founder | @jonathansherry | jsherry@cbinsights.com

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