Only a month after its previous acquisition, an Atlanta-based company is making another move to uplift Black and Brown individuals in the professional world. Greenwood Bank announced the latest addition to its team on Wednesday. The financial services company acquired Los Angeles-based Valence, a networking platform for the Black community.
This is the second networking solution to join Greenwood’s ranks this year. Back in May, the company acquired The Gathering Spot, a platform that offers its members access to a community of professionals and entrepreneurs, as well as content and experiences.
Greenwood created a digital banking platform for Black and Latinx professionals and business owners. Having now added The Gathering Spot and Valence to its solution, the combined conglomerate of Greenwood Inc. works to support financial freedom for underrepresented groups through community building, career advancement and financial services.
Founded in 2019, Valence hopes to connect the innovation economy to the Black community. It operates with the mindset of increasing diversity in leadership within industries like finance and technology.
It’s working to do so through its product suite. Valence offers Pipeline, a recruiting database that helps companies looking to diversify their teams find Black professional talent, as well as Its BONDS professional development program. This solution provides coaching, community and curriculum to Black professionals with five to 15 years of work experience.
“Emerging Black leaders continue to face enormous challenges navigating career development and advancement, while companies and leadership struggle to attract and retain Black talent in their executive ranks,” Guy Primus, CEO of Valence, said in a statement. “Valence provides a platform for executives, employers and Black business leaders to take meaningful steps to accelerate Black representation in the C-suite and drive positive change in corporate America.”
The addition of Valence’s recruiting database lets Greenwood provide access to tens of thousands of job listings and career opportunities to its professional network that’s almost 1 million strong. In turn, this will also help companies diversify their workforces at every level, from early-career professionals to C-suite leadership, according to Greenwood.
The addition of Valence also appoints the company’s leadership team as Greenwood executives. Kobie Fuller, co-founder and chairman of Valence, will join the advisory board of Greenwood. Primus will continue in his role as CEO of Valence while assuming a vice president position at Greenwood.
“This is a powerful moment in Black business history where we are combining three of the strongest communities focused on Black professionals and their career and financial needs,” Ryan Glover, co-founder and chairman of Greenwood, said in a statement. “Adding the Valence platform to the benefits of Greenwood membership means we are supporting, educating and we are connecting [the] Black community directly to the job opportunities they need to grow their career and build generational wealth. By working together, we are laying the foundation for the future success of Black people for years to come.”