Thursday, June 23, 2022

Upfront's Valence Acquired By Greenwood

Los Angeles-based Valence, the Black professional networking site created by Upfront's Kobie Fuller, has been acquired by Atlanta-based Greenwood, Greenwood announced on Wednesday. Financial details of the acquisition were not announced. Greenwood operates a digital banking platform for Black and Latino individuals. According to Greenwood, the acquisition will provides its community of nearly one million Black professionals with access to tens of thousands of job listings and career opportunities. Valence was founded by in 2019 by Kobie Fuller, Chairman of Valence and General Partner at Upfront Ventures, along with Emily Slade and LaMer Walker. According to Greenwood, as part of the acquisition, Fuller joins the advisory board for the company. Valance will continue to be run by CEO Guy Primus. Valence was backed by Upfront Ventures, GGV Capital, and others.