Accenture invests in multicultural media technology platform SwayBrand through Accenture Ventures’ Black Founder Development Program
NEW YORK–(BUSINESS WIRE)–Accenture (NYSE: ACN) has invested in the Los Angeles-based company SwayBrand, a multicultural media technology platform that helps brands connect with diverse influencers. This is the first seed investment in North America made through the company Black Founders Development Program.
Founded in 2018, SwayBrand is focused on disrupting the way brands and influencers interact by bringing equity to culture and authenticity to brand content. Its platform allows brands to connect and collaborate with multicultural creators to develop content that resonates with diverse audiences. Conversely, it also provides the opportunity for BIPOC (Black, Indigenous, People of Color) influencers to showcase and connect directly with brands for content partnerships.
Directed by Accenture Venturesand part of its wider Project Spotlight initiative, the Black Founders Development Program helps founders and entrepreneurs of black tech startups advance and grow their businesses through broader and more direct access to venture capital, business mentorship and strategic relationships with Accenture business partners and clients. The program makes strategic investments in early-stage, Black-founded and -led software startups and other market development initiatives, applying Accenture’s extensive expertise in technology, innovation and investment and its powerful network of technology ecosystem partners.
“By creating new opportunities for Black business owners and leaders and harnessing the full power of Accenture’s global technology business, the Black Founder Development Program seeks to help redress the imbalance between Black entrepreneurs, who too often face a lack of access to capital, and their peers,” said Kathryn Ross, Global Head of Open Innovation and Head of Black Founder Development Program for Accenture Ventures. “We look forward to continuing collaborating with SwayBrand on internal projects and other clients, while helping company management accelerate business growth and expansion.”
Accenture’s investment in SwayBrand builds on past and current collaborations between the two companies. For example, SwayBrand is currently working with Droga5, part of Accenture Interactive, to find authentic brand ambassadors for clients. Accenture also engaged SwayBrand to work on Accenture’s June 19, 2021 commemoration event, “Meet Me at the Apollo”, honoring the contributions of African American and Black icons in music, art and technology. SwayBrand’s Social Ambassadors amplified the event and the conversation around the importance of supporting the next generation of African American and Black tech creators and entrepreneurs.
“Brands need to make emotional connections in pure and authentic ways that reflect the full spectrum of humanity,” said David Droga, CEO and Creative Chairman of Accenture Interactive. “SwayBrand brings undeniable cultural currency and creativity through its work, and I couldn’t be more proud to share the same board as we help our clients define real brand communications.”
Under Project Spotlight, SwayBrand will have access to Accenture’s global innovation network and the opportunity to co-innovate with Accenture in its innovation centers, labs and liquid studios, working with experts in material to adapt its solutions to the market and to the scale of the company. faster and more efficiently.
“America is becoming increasingly diverse, but the majority of brands lack the cultural intelligence to produce content that reflects this. By bridging the gap between brands and multicultural creators, we are fostering more inclusive connections and between companies and their target audiences,” said Horace Flournoy, co-founder and CEO of SwayBrand. “The resources, opportunities, and strategic guidance provided through the Black Founder Development Program will go a long way in helping us move forward. our mission.”
Launched in 2015, Accenture Ventures makes targeted equity investments in emerging technology startups, matching their capabilities with the needs and priorities of Accenture clients. Its Open Innovation arm acts as a bridge to the global innovation ecosystem by bringing together Accenture clients with top business-relevant startups to unlock their growth potential and accelerate digital transformation.
Accenture is a global professional services company with industry-leading digital, cloud and security capabilities. Combining unparalleled experience and specialist skills in more than 40 industries, we offer strategy and advisory, interactive, technology and operational services, all powered by the world’s largest network of advanced technology and intelligent operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving customers in more than 120 countries. We embrace the power of change to create value and shared success for our customers, employees, shareholders, partners and communities. Visit us at accenture.com.
SwayBrand is reinventing the influencer market by bringing “cultural intelligence” and authenticity to brand content. We are creating all new Web2 + Web3 channels to help brands develop genuine partnerships with diverse creators who would normally go undiscovered, but set and drive global shopping trends. Our technology platform uniquely sources original content from the experiences of Black, Latino and Asian influencers. For more information, visit www.swaybrand.com.
Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.