Equity Angels is a social impact organization founded by Katherine Winston and Kenya Burrell-VanWormer to increase diversity in real estate tech or “prop-tech” by helping underrepresented founders secure funding for their startups. The organization has a three-part strategy to achieve this goal, which includes providing access to capital, offering fractional executives, and creating a community of diverse founders. The accelerator program helps founders prepare for investment pitches and culminates in the Blueprint real estate tech conference, where founders present to potential investors.
Equity Angels recently announced its first accelerator cohort of four early-stage startups. The requirements for participating in the accelerator include working in prop-tech or fintech, having raised initial capital, and having at least one minimum viable product. The organization is looking for diverse founders, defined broadly rather than targeting specific demographics. This inclusive approach aims to prevent pigeonholing by venture capitalists and avoids potential discrimination claims, like one made against the Fearless Fund for supporting business owned by Black women.
Equity Angels is primarily funded by Winston and Burrell-VanWormer and currently does not charge a set fee for participation in the accelerator. The organization takes equity in the startups based on how much they have raised and their current traction. For the fractional executive program, Equity Angels earns a percentage of the rate paid by the startup for the executive. In the future, the organization plans to add full-time executive placement services for small to midsize tech companies seeking diverse candidates, which will be fee-based.
The Seattle area, where Equity Angels is based, is home to several real estate technology ventures, including Zillow, Redfin, Arrived Homes, and Havium. Winston and Burrell-VanWormer have significant experience in the real estate sector. Winston has a background in marketing and communications with Sotheby’s International Realty, while Burrell-VanWormer has worked as a realtor in various leadership and sales roles in Houston and nationally. Equity Angels aims to support underrepresented founders in the real estate tech industry and provide them with the resources and opportunities needed to succeed in the sector. The organization’s focus on diversity and inclusivity sets it apart and helps to create a more level playing field for startups in the prop-tech space.
