Chief, the private leadership network for senior women executives, took the city by storm by connecting and uniting leaders in a first-of-its-kind community. 2045 is launching today to do the same for mid-to-senior level professionals of color. Offering both a robust digital platform and a physical clubhouse on 20th Street in the heart of Flatiron, 2045 offers curated content and programming to cross-pollinate ideas and ensure workforces are diverse by providing members with a collaborative space to be heard and connect. A central part of membership is the access to what the startup calls Councils – executive coach-led small groups of peers to foster, advance, and support each other’s professional growth. Members also have access to online workshops, a social network, interest groups, forums, events, and of course access to the physical space. Membership options are available for individuals (Community) or for corporations sponsoring their employees (Council) and range anywhere from $2,500-$10,000 per year.
AlleyWatch caught up with 2045 CEO, Founder, and serial entrepreneur Porter Braswell (cofounded Jopwell; exit to True) to learn more about the launch, the company’s strategic plans, recent round of funding, and much, much more…
Who were your investors and how much did you raise?
We raised a $4.2M oversubscribed pre-seed round led by Benchstrength, with additional investment from CJ McCollum, Miguel McKelvey, AAF, CT Innovations, among others.
Tell us about the product or service that 2045 offers.
2045 is an exclusive network for influential professionals of color. Our network spans digital tools and a physical clubhouse, offering Councils, Interest Groups, access to exclusive events, curated content and forums, and the resources needed to retain and promote a diverse workforce.
Our Councils are intimate groups led by executive coaches of color. Councils are available to our members who are sponsored by their employers. We believe our corporate partners should be responsible for investing in the development of their diverse talent. Our Interest Groups are member-led, bringing people with similar passions together. Curated content and programming at 2045 is led by Cultural Icons—people we believe are making a notable impact in the world.
2045 Offerings:
- Councils: personal and professional development groups of 8-12 peers with similar levels of seniority. Councils meet 10x a year and help each other navigate and accelerate their professional and personal advancement. All Councils are facilitated by an accredited executive coach of color.
- Culture: real connectivity to a curated list of Cultural Icons to access insider knowledge and insights from globally recognized individuals
- Advisors: access to timely and critical leadership resources designed for senior-level professionals of color in mind and led by notable business leaders, academics, and research analysts, available in-person and through the digital platform
- Connections: connectivity through the members-only app, allowing members to join different groups to discuss current events and trends
- Clubhouse: exclusive access to the 2045 clubhouse, with the ability to host meetings and network with other members
What inspired the start of 2045?
$50B was dedicated to corporate DEI initiatives in 2020, following the protests over George Floyd’s murder, and only a small proportion of it has been meaningfully allocated since. This is a clear sign that corporations lack the accountability to follow through on their DEI commitments. 2045 creates a pathway for corporations to create cultures rooted in the retention and promotion of their diverse workforces. We also create spaces for people with shared lived experiences to come together and feel seen, heard, and valued. These are the most important factors in supporting employee retention.
Having previously founded Jopwell, a HR tech platform recently acquired by True that helps diverse students and professionals unlock opportunities for career advancement, I know how essential resources like these are for people of color when it comes to the job funnel. While Jopwell supports recruiting, I saw another market gap in the retention of people of color. That’s why I created 2045. To me, 2045 is a continuation of my previous work, with the key difference that I’m now directing my focus toward the retention aspect of the HR equation.
How is 2045 different?
We believe that 2045 is the perfect blend between a place for community members to be social as well as learn how to better retain and promote a diverse workforce. Our exclusive network, while only available to certain levels of professionals, does not make age or gender a requirement or an exclusionary factor. We offer a space where people with shared lived experiences can come together in support of helping one another.
We are also more than just a clubhouse and digital experience. The 2045 membership is one piece of a larger business we are building, which will have multiple entities designed to support different challenges people of color (and their employers) face in the marketplace.
What market does 2045 target and how big is it?
We are an exclusive network dedicated to supporting mid-to senior-level professionals of color, which includes those at the Director, VP, Partner, or equivalent level within their organization (we also welcome Community members from non-corporate backgrounds who can demonstrate an equivalent track record of excellence or influence). We’re focused on these groups because they currently are or will soon become our nation’s most prominent leaders of color. Our aim is to provide them with the tools and resources they need before we reach 2045, which is the year the United States will become majority racially diverse. We believe a strong core of diverse leadership is critical to meeting this fundamental shift in American society.
What’s your business model?
We offer two tiers of membership, Community (individual) and Council (corporate), and fees range from $2,500 to $10,000 pending the membership tier. Council membership is the core of our business. Corporate partners underwrite the fee, sponsoring their most influential employees of color to advance their professional and personal growth with us through Councils. Alternatively, Community membership provides online connections, digital meetups/interest groups, online workshops, curated content and forums, and access to the clubhouse.
How are you preparing for a potential economic slowdown?
During any economic downturn, companies first start to pull back on hiring and then have to double down on their spend in retaining current talent. In particular, corporations cannot afford to lose their diverse talent in these periods of economic uncertainty. We feel that now more than ever, a 2045 membership is the perfect solution for companies facing these challenges. 2045 offers them an opportunity to invest in their diverse talent, while providing employees with the support they need to engender a sense of belonging, leading to higher retention and promotion outcomes for their employers.
What was the funding process like?
It’s a tough climate to raise capital in, especially as a Black founder—something I’ve known well for the past eight years with Jopwell and now 2045. Despite the harsh climate, we feel really good about where we are at with our oversubscribed pre-seed round and investors who are excited by our vision.
We were fortunate enough to select who we wanted to be a part of the round. We chose Benchstrength to lead with additional investment from AAF management—the backer of two of the seven Black-led unicorns and LPs in Black led funds—amongst other notable names and institutions.
What are the biggest challenges that you faced while raising capital?
It’s not widely known but something I like to call attention to: in 2022 Black founders received less than 1% of overall VC funding. It’s not easy to secure capital as a person of color, whether it’s your first business or your sixth. There are institutional challenges we face that others in the space do not.
What factors about your business led your investors to write the check?
We are solving for a gap in the market by providing the resources and tools companies need to help retain and promote a diverse workforce. We have a vision to create a community that makes them feel seen, heard, and valued. This isn’t something that corporations have successfully managed on their own, and our investors know that. The need is acutely felt by our corporate clients, and from a consumer perspective, we know that senior professionals of color are more likely to leave their jobs. We are uniquely poised to address this double-sided challenge.
We are solving for a gap in the market by providing the resources and tools companies need to help retain and promote a diverse workforce. We have a vision to create a community that makes them feel seen, heard, and valued. This isn’t something that corporations have successfully managed on their own, and our investors know that. The need is acutely felt by our corporate clients, and from a consumer perspective, we know that senior professionals of color are more likely to leave their jobs. We are uniquely poised to address this double-sided challenge.
What are the milestones you plan to achieve in the next six months?
This month we expect to have over 200 members, half of which will be sponsored by their employers. Any organization interested in investing in their diverse talent should reach out to us about our corporate partnership program. We look forward to growing our membership numbers throughout the year in both available tiers. Later this summer we will also open our clubhouse in Flatiron (NYC) which will provide a vital physical presence to complement our suite of digital tools.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Prioritizing profitable products and services to extend your financial runway.
Where do you see the company going now over the near term?
We are excited to grow our Councils with the help of our corporate partners. We’ve secured a number of relationships with major firms across industries, all of which are sponsoring memberships for their most influential employees of color. Our vision is to be a resource for corporations to make good on their DEI promises by putting their employees first and giving them access to the space and tools that unlock their full potential.
