A Milwaukee-based software startup started by two formerly incarcerated individuals has raised $400,000 from Milwaukee venture capital firm Gateway Capital Partners.
The Way Out, co-founded in 2020 by Eli Rivera and Ruben Gaona, is an anti-bias employment platform that connects employers with job seekers who were formerly incarcerated. It also connects justice-impacted individuals with re-entry service providers, training programs and transportation.
“We intend to be the single source for the justice-impacted to apply for jobs and access the services and support they need to rejoin society," Gaona said in a Wednesday announcement.
For employers, The Way Out's platform provides access to hundreds of job seekers; offers connections to resources that may help offset the cost of training; and is a way to monitor, incentivize and reward employees’ progress and performance.
To date, the platform has connected more than 300 justice-impacted individuals with jobs and support services, and 90% of job seekers who have been matched with employers through the platform have stuck with their roles, according to the startup.
“Employers across all industries are currently having an incredibly difficult time attracting and retaining employees,” Rivera said in a statement. “Our software is connecting American employers to a significant pool of untapped talent and helping to solve their workforce shortages."
Earlier this year, The Way Out received $100,000 through the inaugural Google for Startups Latino Founders Fund.
The Way Out is the fourth publicly announced investment for Gateway Capital Partners, an early-stage venture capital firm led by Dana Guthrie that invests in Wisconsin entrepreneurs with a focus on the Milwaukee area. The firm raised a $13.5 million fund in 2021.
Gateway Capital Partners has also invested in Racine-based short-term rental upsell platform Houstr Inc., Milwaukee-based health data startup Geno.Me, and Milwaukee financial technology firm Tip a ScRxipt.
