“Behind Every Strong Man, There’s a Strong Woman”: Stephen Curry Spills the Beans on $1,000,000 Investment for a Noble Cause
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USA Today via Reuters
Dec 13, 2021; Indianapolis, Indiana, USA; Golden State Warriors guard Stephen Curry (30) talks to media after the game against the Indiana Pacers at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports| Courtesy: Reuters
Seattle-based pay equity startup Syndio has been making waves in the tech world. It received funding of $1 million from early-stage investors, Penny Jar Capital, which has garnered significant attention. What makes this investment particularly amazing is that Penny Jar Capital is anchored by Stephen Curry. The 2x MVP and arguably the best shooters of all time has invested in the startup.
Fans ad Curry for revolutionizing the game of basketball, but he is also known for making good investments. The Warriors star has a very diverse portfolio when it comes to his investments. To name a few, Palm, Slyce, and Pinterest are some companies Curry has invested in.
What is Syndio & why did Curry invest in it?
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Syndio is a startup that has developed a software called EquityTech. This software promotes workplace equity by analyzing salaries to address discriminatory pay differences based on gender, race, ethnicity, and age. Syndio analyzes pay for 160 clients, including 40 Fortune 500 companies like Nordstrom, Salesforce, Slack, and General Mills. They study 2.6 million employees’ pay. This initiative is to inculcate a fair and inclusive work environment, making pay equity the standard for companies worldwide.
In just four years of existence, Syndio gained over $30 million in funding. However, Curry’s participation adds a different aspect to the company’s table. Curry’s commitment to equity goes beyond simply adding his name to the startup, according to CEO Maria Colacurcio. The basketball star has been a supporter of equal pay for a long time and has even written an article on it in The Players’ Tribune in 2018.
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Curry’s anchored company Penny Jar Capital did thorough research before making any investments in the startup. As Curry is also driven to have a positive impact on the world, this investment goes hand in hand with his thoughts. In an interview with Syndio’s CEO, he was asked about why was it such a big deal to invest so early in a budding company.
He said, “By every strong man is a strong woman. And I really have had so many influences in my life. Plenty of women influences in my life that not afraid to kind of share their opinion about what’s going on in their worlds. And having been in the NBA for 9 years, especially in the west coast silicon valley, you become aware of certain issues that must be addressed. And especially when it comes to the pay equity conversations.”
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Thus in Curry’s words, he explained the reason for his investment in the budding startup.
What happened to Syndio after investments?
With revenue tripling year over year, Syndio’s growth and momentum as a business are undeniable. Curry’s backing demonstrates how vital pay equity is and how Syndio could potentially transform workplace practices to be more inclusive and fair. As Syndio continues on its mission to bridge the pay gap and promote diversity, the collaboration with Stephen Curry promises to be a winning combination on and off the court.
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Stephen Curry’s investment will have a lasting impact beyond basketball in creating a more equitable society. And due to Curry’s influence on the world, the startup got all the attention it requires. What do you think, will this startup make any major changes in the world? Let us know in the comments below.
Written by:
Edited by:
Sherjeel Malik