Black-founded startups in the U.S. secured $2.3B in venture funding in 2022, less than half of the previous year's record-setting tally of $5.1B, per Crunchbase. The venture funding pullback severely impacted funding available for Black-founded startups, ending the year with only a 1.1% share of the total VC funding deployed, down from 1.5% in 2021.
- In Q3 2022, Black-founded startups nabbed $184M in venture funding, a fraction of the $1.3B tally from Q1 in the same year.
- Funding recovered in the last quarter slightly, rising to $274M.
- Three Black-led startups cemented their status as unicorns in 2022, half as many as the previous year.
- VC funding deployment overall in the U.S. slowed by over a third, dropping from $337B in 2021 to $214B in 2022.
