Participated · Equity · May 2021

Founded in 2017 and rebranded from Jumpstart, Canvas builds what it calls a Diversity Recruitment Platform (DRP) that aggregates self-reported demographic data from candidates and allows employers to filter across more than 75 data points. Roughly 87% of job seekers on the platform voluntarily disclose demographic information—seven times the industry average—giving companies a more accurate view of underrepresented talent pools. The software supports hiring initiatives for hundreds of customers, including Airbnb, Coinbase, Lyft, Plaid, Roblox and Stripe, and Canvas claims that 56% of hires made through its system come from underrepresented groups while reducing time-to-hire by 30%. Revenue grew 3× in 2020 versus 2019 as demand for diversity solutions accelerated alongside the Black Lives Matter movement. Canvas intentionally avoids AI-based inference, instead empowering candidates to self-identify their backgrounds and host virtual recruiting events. The 70-person company plans to expand its product into additional industries and later-career hiring stages, aiming to become the system of record for diversity hiring. With $32.5 million raised to date, management expects headcount to reach 100 by the end of 2021.