Mixtroz raises $1M in funding round
Mixtroz LLC has just picked up another big win.
The tech startup, which came to Birmingham for the Velocity Accelerator and won the Birmingham Rise of the Rest competition, has completed a $1 million funding round.
Funding will be used to support the growth of the company's platform, which aims to make networking at events easier, and will allow the company to grow its team.
Bronze Valley, an initiative launched to improve diversity in the Southern tech ecosystem, provided support to the company, which included funds from local investors.
“Achieving this milestone is a huge success for us, especially considering we are black, female, nontraditional tech founders,” said Kerry Schrader, Mixtroz cofounder and CEO.
Initially founded in Nashville, the company came to Birmingham for Velocity and eventually decided to locate the company in the Magic City. It is based at Innovation Depot. Schrader noted that Velocity, Bronze Valley and the local community have contributed to the success of the startup.
“As a startup, Birmingham has proved to be a perfect home base for us," Schrader said. "They have figured out how civic, corporate and tech ecosystems must come together to breed success, and we attribute a lot of our accomplishments to the supportive business community here."
The company and its product have generated national publicity, buoyed by its success in pitch competitions like Rise of the Rest.
Based on their research, Schrader and Ashlee Ammons, cofounder and COO, are only two of 40 black females to close a $1 million in seed funding.
“The fact that we were able to acquire prestigious clients clearly shows that there is a real need for our product. People attend events to make valuable connection," Ammons said. “In the digital age, if the main motivation was to consume content, we’d all just livestream at home. Mixtroz is a way to make the most of your time when you have decided to make the effort to leave the house and attend an event.”
Ashlee Ammons, of Mixtroz, delivers a power session with Kerry Schrader, during the BBJ's Women's Summit.
BOB FARLEY