Tech:NYC Digest: June 17

Tech:NYC Digest: June 17

June 17, 2021 • Estimated Reading Time: 8 minutes

Thursday, June 17, 2021Programming note: In observance of Juneteenth, Tech:NYC will be closed tomorrow. We’ll see you on Monday!Reminder: the primaries in NYC are five days away. Are you prepared to vote? View Tech:NYC’s election guide here.Was this digest forwarded to you? Subscribe here.

Here’s a roundup of the latest updates this week:

  • Juneteenth, or June 19th, the date associated with the end of slavery, will become a federal holiday. President Biden signed the legislation this afternoon, after it passed both houses nearly unanimously. (New York Times) The law goes into effect immediately, making Friday the first federal Juneteenth holiday in American history. 

    • It is the first new national holiday since 1983, when Congress approved Martin Luther King Jr.'s birthday. MLK Day took almost 20 years to get approved, whereas the recent legislative effort to get Juneteenth federally recognized was successful within a year. (Axios)

  • The city is launching a new education and economic opportunity program tied to Juneteenth. (NBC New York) The program has three parts:

    • There will be Universal New York City Scholarship accounts for every public school child starting in September.

    • A CUNY scholarship fund will provide 2,800 four-year scholarships for Black and low-income students.

    • A program with the Brooklyn Recovery Corps at Medgar Evers College will give 200 students paid internships and work experience.

  • With social distancing restrictions lifted, the city plans to move about 8,000 homeless people from hotels back into shelters by the end of July. As this happens, hotels will begin opening back up in preparation for visitors and business travel coming through New York again. (New York Times)

  • Novavax offers the US a fourth vaccine. The company announced its findings of its clinical trial Monday, stating its two-shot vaccine offers protection against the coronavirus. The vaccine’s use in the US remains to be determined, but with supply levels relatively high, it might be more helpful in outreach to other countries. (New York Times)

  • A second marathon is coming to NYC, with officials approving plans for the first-ever Brooklyn Marathon. The race will take place on April 24, 2022. (New York Magazine)

In response to the murder of George Floyd, tech companies and the business community more broadly were galvanized into backing the recognition of Juneteenth, both as legislation and as company policy. (CNN)

  • Many of New York’s largest employers, including Apple, Citi, Facebook, Google, Twitter, Verizon, and Zillow have made Juneteenth a paid company holiday and/or offered an extra floating holiday.

  • Others are eliminating meeting requirements and client deadlines to invite employees to participate in community engagement programming or learning events that celebrate Black art, culture, history, and storytelling. 

DEI year round: Business leaders have also recognized the urgency of ensuring diversity, equity, and inclusion goals are at the center of company culture. 

  • Among the changes: giving Black employee resource group leaders more decision-making power and a more direct line to executives — as well as paying them for that work. 

  • They are also reporting on longer-term commitments to support racial justice causes, diversify their supplier bases, and create new partnerships to expand the pipeline of talent from which they hire. (CNBC) 

In related reading:

  • How Your Organization Can Recognize Juneteenth (Harvard Business Review)

  • The frenzy to hire chief diversity officers (Axios)

  • Juneteenth 2021: Tri-state events honoring liberation of America’s last enslaved people (CBS New York)

  • Carbyne, a New York-based real-time emergency communication platform, raised $20 million in additional funding following a $25 million Series B. Global Medical Response led, and was joined by Hanaco VC, Intercap VC, Elsted Capital and others. (TechCrunch)

  • Claroty, a New York-based industrial cybersecurity company, raised $140 million in a pre-IPO funding round. Bessemer Venture Partners and Standard Industries co-led, and were joined by LG Corp. and Temasek. (TechCrunch)

  • Novo, a New York City-based small business banking platform, raised $40.7 million in Series A funding. Valar Ventures led the round and was joined by investors including Crosslink Capital, Rainfall Ventures, Red Sea Ventures, and BoxGroup. (PYMNTS)

  • Templafy, a New York City-based platform for businesses to create content, raised $60 million. Blue Cloud Ventures with participation from all previous investors such as Insight Partners, Seed Capital, Dawn Capital, and Damgaard Company. (Crunchbase News)

  • Yellowpop, a New York-based maker of neon signs, raised $4 million in Series A funding. Investors included Eutopia. (FinSMEs)

  • June 18: Virtual: Juneteenth: Building Together, with Harlem Capital Managing Partner Jarrid Tingle, Kindred Ventures Managing Partner Kanyi Maqubela, Impact America Fund General Partner Kesha Cash, and others. Hosted by Harlem Capital. Register here.

  • June 21 – 25: Virtual: Mobilize Women Week 2021, with Spotify Global Head of Equity and Impact Elizabeth Nieto, Microsoft Chief Accessibility Officer Jenny Lay-Flurrie, BetterUp Chief Product Officer Gabriella Rosen Kellerman, and others. Hosted by Ellevate Network. Register here.

  • June 22: Trading Exploded: Can Financial Education Catch Up?, with Inspired Capital Managing Partner Alexa von Tovel, EverFi President Ray Martinez, Commonstock Founder Dave McDonough, and others. Hosted by Protocol. Register here.

  • June 22: Virtual: The Future of the Office with New York tech HR leaders, including Vivvi Head of People Lauren Gill, CommonBond VP of People Keryn Koch, and Suzy Chief People Officer Anthony Onesto. Hosted by Tribeca Venture Partners. Register here.

“Juneteenth is a moment where we celebrate, but it’s also a moment where we lament.” Observances are happening across the city all weekend — here’s a

, either in-person or virtually.

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