Birmingham-based Bronze Valley recently added two new companies to its investment portfolio of startups. The addition of Stimulus and Pruuvn brings to 17 the number of investments by Bronze Valley since its launch in 2017.

“Both of these companies are geared to the present and future of business in a changing landscape,” said Neill S. Wright, president and CEO of Bronze Valley. “Stimulus and Pruuvn are outstanding additions to the Bronze Valley portfolio. We look forward to helping them grow and prosper.”

Stimulus helps companies meet challenges associated with supply chain management – challenges that have only increased in the era of COVID-19. Based in Philadelphia, Stimulus uses a proprietary algorithm to help clients improve their sourcing and purchasing decisions, and build a supply chain that gives them a competitive advantage.

“Supply chain is the new sexy issue,” said Tiffany Stanard, the founder and CEO of Stimulus. “Everything we eat, drink and wear comes from a different place, a different company. COVID humanized that. It made people understand why it’s important, and why it needs to be streamlined and managed properly. That’s creating opportunities for our company.”

Prior to founding Stimulus in 2017, Stanard was an executive in vendor management, with over 15 years of experience working with vendors and suppliers for some of the largest publicly traded companies in the country. That experience equipped her with an understanding of what she calls “relationship intelligence,” the bottom-line impact that comes from building a strong network of suppliers and giving them the same level of attention and courtesy that employees and customers receive. The concept touches on issues relative to diversity, equity and inclusion.

“Sourcing and procurement are strategic functions,” Stanard said, pointing out that companies spend more on suppliers than any other balance sheet item. “It’s important to focus on who you’re working with and why you’re working with them.”

Atlanta-based Pruuvn assists companies in identifying and hiring new employees faster while reducing risk. Utilizing blockchain technology, Pruuvn aids in attracting verified employees and contractors, adding them quickly and effectively to work teams, and monitoring their compliance safely and securely. It helps people maintain control of their credentialing and background data, providing the ability to share it on demand with prospective employers, financial institutions and virtually anyone else who needs it.

“It’s about fostering economic opportunity,” said Pruuvn founder and CEO Bryan Hobbs. “Pruuvn works for everybody. It helps companies identify and search for candidates that meet set criteria, get them hired and onboard them instantly. It helps contractors and gig workers by giving them control over their own information and data. It helps everyone involved in the process make better decisions and gives them greater peace of mind.”

Prior to founding Pruuvn, Hobbs worked for Norfolk Southern, a leading railroad freight company. While describing Norfolk Southern as “a great company that provided me the opportunity to grow,” Hobbs noted that his upward mobility entailed moving his family four times within five years. In the last move, his wife lost out on a salary increase because a previous employer failed to verify her work history. That’s when the idea of Pruuvn was born.

“The employer was verifying work history and credentials in an antiquated way,” Hobbs said. “That made no sense, as it was not the first time my wife’s work history had to be verified. Pruuvn eliminates that concern, utilizing blockchain technology that streamlines the entire process.”

A data trust with a simple signup process, Pruuvn has more than 1,000 credentialed users. Hobbs said the numbers so far reflect that users achieve 30% savings in onboarding cost and 75% in onboarding time. Pruuvn is assisting clients in making more than 500 hires per month.

Bronze Valley was launched five years ago with support from Alabama Power. It is a nonprofit, early-stage venture investment platform that supports high-growth innovation and technology-enabled companies created by diverse, underrepresented and underestimated founders. Bronze Valley is certified as a Community Development Financial Institution (CDFI). Learn more at bronzevalley.com.

(Courtesy of Alabama NewsCenter)

BIRMINGHAM, Alabama ​– Startup accelerator gener8tor announced today the participants selected for 10 Fall 2020 gBETA cohorts, including five promising companies in the program’s inaugural class at the Bronze Valley Accelerator.

Birmingham’s Bronze Valley​ is a non-profit, early stage venture investment platform that focuses on supporting female entrepreneurs and entrepreneurs of color.

“Bronze Valley is committed to creating and maintaining an entrepreneurial environment that is more nurturing, more supportive and more inclusive,” said Bronze Valley President & CEO Neill S. Wright. “This cohort of promising startups represents a great start for the Accelerator.” (more…)

Acclinate Genetics in Huntsville received this week an investment from Birmingham venture capital firm Bronze Valley. The investment will help Acclinate advance its mission of increasing diversity in clinical drug trials.

According to a release from Acclinate, “Racial and ethnic minorities make up 40 percent of the U.S. population. But in clinical trials, minorities often account for as little as two percent of participants.”

The company says this can lead to many “commonly prescribed pharmaceuticals that are less effective or have negative side effects due to a person’s race and ethnicity.”
(more…)

Nationally ranked startup accelerator gener8tor announced today a partnership with Bronze Valley to fuel the growth of business startups emerging from Birmingham, the state of Alabama and throughout the Southeast.

Through this partnership, gener8tor will launch the Bronze Valley Accelerator program – a free version of gener8tor’s accelerator program that provides individualized mentorship and coaching for up to 15 startups each year.

The Bronze Valley Accelerator is a free accelerator for early-stage technology startups with local roots. The program provides participants with intensive and individualized coaching and access to gener8tor’s national network of mentors, potential customers, corporate partners and investors. The program is designed to help startups gain early customer traction on their product or idea and establish metrics that make them competitive applicants for full-time accelerators or seed investment. (more…)

Bronze Valley has been awarded a grant by the U.S. Economic Development Administration (EDA), a bureau of the U.S. Department of Commerce. The $284,500 grant, which will support Bronze Valley’s strategy for making startup funding more accessible to entrepreneurs from underrepresented ethnic, gender and income groups, was announced July 23.

“We are extremely pleased and excited with our success in this competitive grant process,” said Bronze Valley President Neill S. Wright. “Minority and female entrepreneurs are changing the face of business and technology with every success. The EDA grant will further our mission of making more and greater success possible for groups that historically have been underfunded and often underestimated.”  (more…)