Alabama Futures Fund Invests in Joonko
19 December 2018 - 6:24AM
Alabama Futures Fund (“AFF”), recently made an investment in
Joonko, Inc. (“Joonko”), a company using advanced technologies to
promote diversity and inclusion initiatives and create measurable
change in companies of all sizes. In connection with the investment
by AFF, Joonko has relocated its worldwide headquarters from San
Francisco, CA to Birmingham, AL.
Joonko’s leading product, Joonko Pool, creates a
pool of pre-qualified, diverse candidates and improves the
diversity in participating companies’ talent acquisition pipelines.
Joonko Pool is fully-automated, integrating with a participating
company’s applicant tracking system and uses artificial
intelligence to drive more diverse candidates to hiring
managers.
There are more than 47 customers currently using
the Joonko Pool product.
According to Matt Hottle, partner at Redhawk
Advisory which serves as the investment manager for AFF, “We
couldn’t be more excited to bring Joonko and its founder, Ilit Raz,
to Alabama. The Joonko technology and mission are truly impressive
and this is a major win for the state. Recruiting an Israeli
founder from San Francisco to Birmingham shows we are building a
competitive, vibrant and compelling startup community. It also
shows Alabama can compete with anyone for elite startups like
Joonko.”
“Expanding our operations in the U.S. is an
exciting moment, and we couldn’t find a better place than
Birmingham. The connection between the history of the city and
Joonko, combined with the amazing and supportive eco-system I’ve
seen here, makes it the perfect place for us. Working alongside the
Alabama Futures Fund has been incredible from day one. Their
support of the business, willingness to make introductions, and
belief in the team, product and mission is not something you find
in every investor,” said Ilit Raz, Founder and CEO of Joonko.
About Joonko
Based in Birmingham, AL, Joonko provides a
software platform combining artificial intelligence, data mining of
a company’s Applicant Tracking Systems and advanced data analytics
to help companies find and hire candidates that reflect a more
diverse workforce.
About Alabama Futures Fund,
LP
AFF seeks make seed and early-stage investments
in Alabama-based operating companies and companies that are willing
to relocate their headquarters and principal business operations to
Alabama. AFF will target portfolio investments that
demonstrate high growth potential, are led by coachable and
adaptable founding teams and are focused on large total addressable
markets. Additional information about AFF can be found at
www.alabamafuturesfund.com.
About Redhawk Advisory
Redhawk Advisory (“Redhawk”) is a registered
Investment Advisor with offices in Birmingham. Founded in 2018 by
Matt Hottle and Mickey Millsap, Redhawk focuses on identifying
investments in early-stage startups with high growth potential
across a broad range of industries. For more information, please
visit www.RedhawkAdvisory.com.
Contact: Matt HottleTelephone:
205.530.3722E-mail: matt@redhawkadvisory.com