The Consumer Technology Association (CTA)®, owner and producer of CES®, will invest in Plum Alley – the latest investment from CTA’s $10 million commitment to venture firms and funds that invest in women, people of color and other underrepresented entrepreneurs.
Plum Alley is a venture firm that invests in companies with advanced technology and medical breakthroughs. The firm is led by Deborah Jackson, founder and CEO; Andrea Turner Moffitt, co-founder and president; and Avantika Daing, managing director and partner. Plum Alley invests in founding teams of women, and women and men and has an impressive representation of women founders from many backgrounds and ethnic groups in the STEM fields including Dr. Jennifer Doudna, who recently won the Nobel Prize in Chemistry.
“We know companies that recognize the value of diversity of thought in how they innovate and make decisions will drive better outcomes,” said Tiffany Moore, SVP, political and industry affairs, CTA. “At CTA, we look for companies that use multiple technologies to bring exponential value to markets. We are committed to helping create change in the digital health landscape. Investing in and partnering with Plum Alley is another step in furthering that commitment.”
CTA announced its $10 million investment commitment on stage at CES® 2019. As part of its commitment, CTA announced its first two investments in July 2019, followed by two additional investments in October 2019, and its fifth investment in July 2020. To date, CTA has invested in Harlem Capital Partners, SoGal Ventures, Rethink Impact, MaC Venture Capital, and Founders First Capital Partners.
“At Plum Alley, we exclusively invest in companies with advanced technologies or medical breakthroughs for above market financial return and dramatic benefits to corporations, people and the environment,” said Deborah Jackson. “CTA is an ideal partner for us given our focus and the ability to cross pollinate early stage and legacy companies to bring more perspectives, capital and networks to the table to deliver more value to stakeholders. We applaud CTA for putting investment behind us and our investment thesis. By making a financial investment and taking action, we move beyond statements to real progress. Other entities can replicate CTA’s investment model with the opportunity to have financial return along with opening the door for more innovation.”
In addition to the $10 million investment commitment, CTA is engaging diverse startup founders at CES, building a diverse K-12 STEM Pipeline, and has created a forum for member companies to share best practices on creating greater access and mobility for underrepresented communities.