September 14, 2023: Powering DEI for your business

Today, we meet and learn more about Diversio

What is Diversio?

Diversio is a pioneering company dedicated to advancing diversity, equity, and inclusion (DEI) in organizations worldwide. Founded in 2017 by Laura McGee, Diversio has rapidly gained recognition for its innovative approach to addressing DEI challenges across industries. With a mission to create lasting societal change, Diversio leverages data-driven solutions, technology, and expertise to foster inclusive workplaces and drive measurable results.

Diversio leverages AI technology, advanced data analytics, and subject matter expertise to diagnose organizational DEI challenges, compare them to industry peers, and provide impactful training, benefiting companies at any stage of their diversity, equity, and inclusion journey.

What is the mission?

Diversio's primary mission is to empower organizations to create more diverse, equitable, and inclusive environments. They believe that achieving true diversity and inclusion requires data, expertise, and action. Their core values include accountability, authenticity, innovation, and a deep commitment to social justice.

How is Diversio different?

Diversio distinguishes itself by relying on data-driven insights to inform its DEI strategies. The company collects and analyzes data related to diversity and inclusion within organizations, helping them gain a comprehensive understanding of their current state and identify areas for improvement. This evidence-based approach enables organizations to make informed decisions and measure progress effectively.

Diversio offers a cutting-edge technology platform that assists organizations in improving their DEI efforts. This platform facilitates the collection of demographic and qualitative data from employees, providing valuable insights for creating inclusive policies and practices. The technology also enables real-time tracking of diversity metrics, empowering organizations to assess their progress continually.

What else does Diversio offer?

In addition to its technology solutions, Diversio provides expert consulting services. Their team of DEI experts collaborates with clients to develop tailored strategies that address specific challenges. Whether it's designing inclusive training programs, creating diverse recruitment practices, or fostering an inclusive culture, Diversio's consultants bring extensive knowledge and experience to the table.

What does the impact look like?

One of Diversio's key strengths is its focus on measurable impact. They work closely with organizations to set clear DEI goals and regularly assess progress. This approach ensures that efforts to enhance diversity and inclusion are not just symbolic but lead to tangible results, benefiting both employees and the bottom line.

Diversio's impact extends far beyond its Canadian roots. The company has a global presence, working with clients worldwide to foster diverse and inclusive workplaces that reflect the communities they serve.

In conclusion, Diversio is a trailblazing company that is transforming the landscape of diversity, equity, and inclusion in organizations. Through its data-driven approach, cutting-edge technology, expert consulting, and unwavering commitment to measurable impact, Diversio is helping organizations create more inclusive and equitable workplaces. As the world continues to recognize the importance of diversity and inclusion, Diversio stands as a beacon of progress and positive change in this crucial area.

Diversio’s CEO Laura McGee spoke more about their work and mission at a previous TechTO Event

We were wrong about the Clearpath Robotics acquisition.

Sometimes we get it wrong…

What is the news?

Sean Silcoff reported in the Globe and Mail that Rockwell is paying between $550m and $600m USD upfront for Clearpath Robotics with additional performance that can result in the payout being above $600m USD.

What else did Sean find out?

A few more details about the process and Clearpath were revealed in the article (which is great and one reason you should subscribe to the G&M):

• The acquisition process was competitive and Rockwell significantly outbid the other potential buyers

• That Clearpath is forecast to generate $90m USD ins ales for Rockwell next year up from a range of $50m USD to $75m USD

What did we get wrong?

We assumed that the lack of information originally provided in the acquisition announcement meant that the acquisition was not a large one but clearly, we were wrong. Nevertheless, the information has found a way to get public as the acquisition and underlying business was strong.

What are the implications based on these additional details?

The high-level one is that Clearpath built a great company that was valued by customers and acquirers and resulted in significant returns for founders and investors.

Specific ones include:

• Inovia had significant returns on this deal and despite market headwinds has provided significant returns to its investors in 2023 (they have had other large exits this year). This is great for them and the ecosystem.

• The company was founded in 2009 - it took ~14 years to get to $50m+ in revenue and exit. This is a reminder that great companies take time to scale and compound.

• The fact that this was an atom-based / hardware startup is great news for the ecosystem as it may encourage investors to shift their portfolio from pure software investments. Over the last few years, many investors have been scared by the time and money it takes to build hardware companies compared to software companies.

• Clearpath benefited from the ongoing labor shortage caused by the change in the location of manufacturing jobs back out of China and the aging of the workforce. This trend will continue and provide many more opportunities for startups.

Reply to this email and let us know your takes, and what you’d like to hear about on a future episode

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