4Degrees, a Chicago startup that uses AI to help people better leverage their professional network, is part of the newest cohort of startups selected to Northwestern Mutual's Black Founder Accelerator program.
The startup, led by CEO Ablorde Ashigbi and CTO David Vandegrift, will receive a $100,000 investment as part of the 12-week program and will work alongside Northwestern Mutual and its accelerator partner gener8tor to help grow its business.
Ashigbi and Vandegrift, two former investors at Pritzker Group Venture Capital, founded 4Degrees in 2017 to create a tool to build better connections and stronger professional relationships. The startup's software gives companies a better way to track, maintain and collaborate on deals and relationships. Its platform identifies the right connections that users should focus on, and helps strengthen those relationships over time.
4Degrees says it has more than 200 companies using its software, and it's doing over $1 million in annual recurring revenue.
4Degrees joins four other startups from across the country in Northwestern Mutual's program, including Milwaukee money transfer platform CrossKudi and Indianapolis phone interview startup Qualifi.
Northwestern Mutual's inaugural Black Founder Accelerator cohort wrapped up in June. Among the companies in that program included HUED, which went on to raise additional funding from Serena Ventures, a VC fund led by Serena Williams.
4Degrees' previous investors include Harlem Capital, Techstars and Pritzker Group VC. It also received $450,000 in non-dilutive cash from Google last year via the Google for Startups Black Founders Fund.
