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The Funding Will Fuel Denominator’s Leading Market Position and Expand the Pioneering Work to Create Transparency Around DEI Worldwide
Denominator, the leading provider of data-driven solutions for promoting transparency in Diversity, Equity, & Inclusion (DEI), announced it has closed a significant round of funding. The funding round includes participation from family offices and several former and current executives at leading financial information companies.
“We are thrilled to have such experienced and committed investors supporting our mission,” said Anders Rodenberg, CEO of Denominator. “This investment validates our approach to providing fact-based transparency to DEI performance across industries, organizations, and countries. With our unique database and sophisticated scoring mechanisms, we provide a common denominator for DEI to drive analytical insights for institutional investors and supply chain managers, as well to enable benchmarking of companies’ DEI performance relative to peers.”
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This funding will accelerate Denominator to further expand its growing number of clients, as asset managers, banks, pension funds, and multinational companies seek to meet legal and regulatory requirements and respond to a new generation of investors and consumers.
“Increasingly, investors, and buyers of consumer products expect that their investments and purchases be directed toward organizations that share their values,” Mr. Rodenberg continued. “In financial markets, the number of investment options is increasing, which allows people to direct their savings toward companies that pursue green and other ethically conscious policies. Similarly, grocery stores provide transparency about the sourcing of food products, allowing consumers to choose based on products’ environmental and animal welfare practices. However, when it comes to how companies manage gender, age, race/ethnicity, and other DEI dimensions in their organizations, people are flying blind due to the lack of transparency. At Denominator, our mission is to provide the data needed to empower more informed decision-making in this important domain.”
“Facts are essential to enabling the kinds of rapid and informed decision-making that companies and individuals undertake in our fast-paced, technology-driven world,” said one of Denominator’s lead investors. “This company’s dataset is a unique and valuable tool with applications to finance and beyond. By enabling sound judgment and informed choice, Denominator’s massive information archive creates enormous benefits for better functioning markets.”