5 min read

Pariti is Bringing Together Talent, Capital, and Founders in Emerging Markets

While access to capital is on the rise, a major hurdle for many startups in the region is still a lack of access to talent. 

Clayton Bryan

Venture Partner at 500 Global

Published

07.12.20

The tech markets throughout the African continent are young, but developing fast. According to Quartz Africa, a total of $1.3 billion was invested in African startups in 2019. While access to capital is on the rise, a major hurdle for many startups in the region is still a lack of access to talent. 

Pariti has identified this problem and created a solution that helps pair talented freelancers with emerging companies in need of talent, unlocking a layer of the market that was previously underserved. By helping companies scale their teams and operations more quickly, Pariti is also helping to greatly expand the number of attractive investment opportunities for venture investors interested in the African markets. Here’s a look at how they are achieving this and why we’re excited to have them participate in our flagship accelerator program.

The Nuts & Bolts 

Problem: Currently, it is difficult for startups in African markets to access top talent, financing, and guidance on fundraising strategies. Not to mention, the infrastructure and connectivity challenges that entrepreneurs face in many countries. Despite these hurdles, thousands of startups will continue to emerge within African markets, and these companies have just as much potential for outsized economic success. 

Solution: Pariti is building a three-sided marketplace that combines startups, talent, and capital. The platform acts as a baseline for the tech ecosystem throughout Africa to better communicate, accelerate, and capitalize. 

Currently focused on aggregating startups and talent, Pariti has strong connections with investors throughout the African continent. With favorable labor markets, the company has also been able to onboard a strong base of global talent to its platform. 

Getting to Know Pariti

We met the Pariti team during our open office hours. Yacob Berhane, Co-Founder and CEO, and Wossen Ayele, Co-Founder and COO, who are from the U.S., have known each other for a long time and have both lived in Kenya. Yacob has experience in investment banking and the accelerator space, while Wossen has a JD and experience in strategy consulting.

The Pariti leadership team is rounded out by Selman Kaldirogulu, Head of Product, who has spent time at Facebook and Instagram in product roles, and CTO Gareth Lloyd, who has previous experience as a startup CTO.  

Pariti is working towards several goals that match our ESG criteria. They are focused on helping create quality jobs and economic growth (UN Sustainable Development Goal 8), reducing inequalities (UN Sustainable Development Goal 10), and ultimately, reducing poverty in all its forms (UN Sustainable Development Goal 1). According to the team, they are on a mission “to make the world a more equitable place by evolving and growing underserved markets.”

Why Now?

African companies are under-capitalized, but we believe there will be a surge in investments across the region, and Pariti is the right company to help accelerate this growth. Additionally, COVID-19 is expediting the growth of the global freelancer workforce. According to a recent Upwork report, the HR and freelance SaaS space is projected to hit $44 billion by 2023 and may even exceed that number as we continue to witness a redistribution of labor.

The expected population growth in African countries is also an important signal for future economic growth. Pew Research Center analysis states that five of the top ten most populous countries in the world will be in Africa by 2100, including Egypt, Tanzania, Ethiopia and the Democratic Republic of Congo.

With population growth comes new economic challenges, and for these reasons, platforms like Pariti which solve important issues in the HR and technology sectors can be crucial. 

Future of Pariti

We are impressed with what the Pariti team has achieved so far. They have built a strong network of investors, established entrepreneurs, accelerators, and corporations across three of Africa’s largest tech markets, including Nigeria, Ghana, and Kenya. Things are lining up nicely for a tech boom throughout the region, and we’re excited to support Pariti as they help build and streamline thriving entrepreneurial ecosystems. 


You can learn more about Pariti at https://www.pariti.io

If you would like to learn more about ideas, sectors, and trends that we are excited about as well as receive invitations to exclusive previews, and expert roundtables, please sign up here

LEGAL DISCLAIMER: 500 STARTUPS PROGRAMS (INCLUDING ACCELERATOR PROGRAMS), INVESTOR EDUCATION SERVICES, STRATEGIC PARTNERSHIP CONSULTING SERVICES AND EVENTS ARE OPERATED BY 500 STARTUPS INCUBATOR, L.L.C. (TOGETHER WITH ITS AFFILIATES, “500 STARTUPS”) AND THE FUNDS ADVISED BY 500 STARTUPS MANAGEMENT COMPANY, L.L.C. DO NOT PARTICIPATE IN ANY REVENUE GENERATED BY THESE ACTIVITIES. SUCH PROGRAMS AND SERVICES ARE PROVIDED FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY AND UNDER NO CIRCUMSTANCES SHOULD ANY CONTENT PROVIDED AS PART OF ANY SUCH PROGRAMS, SERVICES OR EVENTS BE CONSTRUED AS INVESTMENT, LEGAL, TAX OR ACCOUNTING ADVICE BY 500 STARTUPS OR ANY OF ITS AFFILIATES.

THIS POST IS INTENDED SOLELY TO PROVIDE INFORMATION REGARDING 500 STARTUPS AND THE HIGHLIGHTED PORTFOLIO COMPANY. ALL CONTENT PROVIDED IN THIS POST IS PROVIDED FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY. 500 STARTUPS MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR INFORMATION CONTAINED IN THIS POST AND WHILE 500 STARTUPS HAS TAKEN REASONABLE STEPS TO ENSURE THAT THE INFORMATION CONTAINED IN THIS POST IS ACCURATE AND UP-TO-DATE, NO LIABILITY CAN BE ACCEPTED FOR ANY ERROR OR OMISSIONS.

UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION OR CONTENT IN THIS POST, BE CONSIDERED AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES OR AS INVESTMENT, LEGAL, TAX OR ACCOUNTING ADVICE FURNISHED BY 500 STARTUPS. FURTHER, NO CONTENT OR INFORMATION CONTAINED IN THIS POST IS OR IS INTENDED AS AN OFFER TO PROVIDE ANY INVESTMENT ADVISORY SERVICE OR FINANCIAL ADVICE BY 500 STARTUPS. UNDER NO CIRCUMSTANCES SHOULD ANYTHING HEREIN BE CONSTRUED AS FUND MARKETING MATERIALS BY PROSPECTIVE INVESTORS CONSIDERING AN INVESTMENT INTO ANY 500 STARTUPS INVESTMENT FUND.

ALL LOGOS AND TRADEMARKS OF THIRD PARTIES REFERENCED HEREIN ARE THE TRADEMARKS AND LOGOS OF THEIR RESPECTIVE OWNERS. ANY INCLUSION OF SUCH TRADEMARKS OR LOGOS DOES NOT IMPLY OR CONSTITUTE ANY APPROVAL, ENDORSEMENT OR SPONSORSHIP OF 500 STARTUPS BY SUCH OWNERS.

Clayton Bryan

Venture Partner at 500 Global

Clayton Bryan is an early stage venture investor and operator. Currently a Partner at 500 Global, Clayton has spent time at some of the most innovative companies in Silicon Valley. He has built expansive online communities, scaled marketplace businesses, and facilitated million dollar deals. At Yahoo he worked on award winning products. Later, at Payvment, he helped a team pioneer a new set of tools that started the social commerce movement. With Diversity as a guiding principle, Clayton has spent the entirety of his career within venture capital focused on supporting underrepresented founders. In 2016, Clayton and four others launched a non-profit organization, Transparent Collective, tasked with coaching and connecting underrepresented founders with investors. Companies to have gone through Transparent Collective's program have raised tens of millions of dollars in early stage financings. Clayton has invested in over 30 companies, including Printify, Public Goods, Silk+Sonder, Blue Wire, Fintor, Neon Financial, Hamama, EcoCart, JusticeText, Pariti, and Kiira. He Received a Bachelors of Arts in Political Economy from The University of California, Berkeley and his Masters of Business Administration from The Stern School of Business at New York University.

Recent news & articles

See all articles →
Salesforce’s Paula Goldman Talks Ethical Tech for Startups

Salesforce’s Paula Goldman Talks Ethical Tech for Startups

Ethical tech isn’t just a concern for Silicon Valley giants, early stage companies should be focused on it too.
Read more →
Top 19 Insights on Startup Fundraising in a Remote Environment
Fundraising
15 min read

Top 19 Insights on Startup Fundraising in a Remote Environment

The following post is a sponsored guest post by Figure Equity Solutions. All views and opinions represented in this post are the views and opinions of Figure Equity Solutions and do not represent those of 500 Global or any of its staff or affiliates.
Read more →
Putting the Silicon Back in Silicon Valley
materials
5 min read

Putting the Silicon Back in Silicon Valley

The global supply chain disruption reminds us that much of the economy is built on physical goods. So, why is it that software companies get most of the technology industry’s attention?
Read more →
Viewabo Aims to Improve Customer Service With Live Streaming Video Tools

Viewabo Aims to Improve Customer Service With Live Streaming Video Tools

Video streaming can give companies the ability to identify and resolve issues quickly and efficiently, especially when dealing with a complex product.
Read more →