BIRMINGHAM, Ala. (GLOBE NEWSWIRE) — Alabama Futures Fund (“AFF”), recently made an investment in Joonko, Inc. (“Joonko”), a company using advanced technologies to promote diversity and inclusion initiatives and create measurable change in companies of all sizes. In connection with the investment by AFF, Joonko has relocated its worldwide headquarters from San Francisco, CA to Birmingham, AL.
Joonko’s leading product, Joonko Pool, creates a pool of pre-qualified, diverse candidates and improves the diversity in participating companies’ talent acquisition pipelines. Joonko Pool is fully-automated, integrating with a participating company’s applicant tracking system and uses artificial intelligence to drive more diverse candidates to hiring managers.
There are more than 47 customers currently using the Joonko Pool product.
According to Matt Hottle, partner at Redhawk Advisory which serves as the investment manager for AFF, “We couldn’t be more excited to bring Joonko and its founder, Ilit Raz, to Alabama. The Joonko technology and mission are truly impressive and this is a major win for the state. Recruiting an Israeli founder from San Francisco to Birmingham shows we are building a competitive, vibrant and compelling startup community. It also shows Alabama can compete with anyone for elite startups like Joonko.”
“Expanding our operations in the U.S. is an exciting moment, and we couldn’t find a better place than Birmingham. The connection between the history of the city and Joonko, combined with the amazing and supportive eco-system I’ve seen here, makes it the perfect place for us. Working alongside the Alabama Futures Fund has been incredible from day one. Their support of the business, willingness to make introductions, and belief in the team, product and mission is not something you find in every investor,” said Ilit Raz, Founder and CEO of Joonko.
About Joonko
Based in Birmingham, AL, Joonko provides a software platform combining artificial intelligence, data mining of a company’s Applicant Tracking Systems and advanced data analytics to help companies find and hire candidates that reflect a more diverse workforce.
About Alabama Futures Fund, LP
AFF seeks make seed and early-stage investments in Alabama-based operating companies and companies that are willing to relocate their headquarters and principal business operations to Alabama. AFF will target portfolio investments that demonstrate high growth potential, are led by coachable and adaptable founding teams and are focused on large total addressable markets. Additional information about AFF can be found at www.alabamafuturesfund.com.
About Redhawk Advisory
Redhawk Advisory (“Redhawk”) is a registered Investment Advisor with offices in Birmingham. Founded in 2018 by Matt Hottle and Mickey Millsap, Redhawk focuses on identifying investments in early-stage startups with high growth potential across a broad range of industries. For more information, please visit www.RedhawkAdvisory.com.
