Silicon Valley Bank and Black Talent Platform Valence Team Up to Increase Black Representation in the Innovation Economy
Valence is a community of more than 10,000 Black professionals and a platform for recruitment, mentorship and professional development
Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, and Valence, the leading community to connect and empower Black professionals, today announced a collaborative effort to connect innovative companies with Black talent. Through a two-year partnership, SVB will provide 2,000 of its clients in the technology and life science industries with access to the Valence platform, where companies can recruit and network with Valence’s community of Black professionals. SVB also participated in Valence’s $5.25M equity raise in 2020.
“Our long commitment to strengthening the innovation ecosystem is leading to new investments and partnerships to promote voices and perspectives that reflect the world we live in,” said Greg Becker, CEO of Silicon Valley Bank. “Access to talent is the biggest challenge we hear from our clients year after year, and we want to help make it easier for companies to hire Black talent, specifically. We’re proud to partner with our client Valence to help increase the number of Black professionals in the innovation economy.”
Through Valence, SVB clients will be able to recruit, retain and promote Black talent through job postings, mentorship, connections, employee resource groups and professional development opportunities. The partnership also includes sponsorship of Valence Bonds, an exclusive executive coaching program that will launch in June for select Black leaders, and the BoostXL virtual event series featuring one-on-one conversations between professionals such as Orlando Jones, Janice Bryant Howroyd and DJ Jazzy Jeff.
“Silicon Valley Bank has been a critical partner in supporting the growth of Valence,” said Guy Primus, CEO of Valence. “They were there for us in our earliest days, supporting our mission and the Black community. They have an incredible network in the tech and venture community and we’re thrilled to be a part of it. We look forward to our continued collaboration as we promote Black talent in the innovation economy.”
Twenty Silicon Valley Bank clients including Medallia, Upwork, and Wayfair participated in the partnership pilot and collectively have posted nearly 3,200 job opportunities to the community since May 2020.
“It has been a wonderful experience going through the SVB + Valence partnership pilot these past few months,” said Ryan Gilchrist, Global Head of Talent Acquisition at Wayfair. “We’ve discovered exceptional talent and provided resources to our WayBlack employee resource group through the platform. Valence has provided outstanding industry knowledge and operational expertise throughout the process. We look forward to further leveraging the Valence platform to source and engage Black talent.”
Founded in Los Angeles in 2019, Valence’s mission is to create new paths to success for Black professionals. The Valence platform connects, showcases and empowers the Black professional community through career development and funding opportunities.