First Round Capital Teams Up With Jay-Z To Invest In Bail Reform Startup

3/20/18

West Philly’s First Round Capital is leading a $3 million investment round in bail reform startup Promise, and entertainment mogul Jay-Z is involved.

“Our system is built on reducing recidivism,” Promise cofounder Phaedra Ellis-Lamkins told TechCrunch. “Our ideal outcome is the person gets a job, does not reoffend and does not continue in the system.”

Promise works with municipalities to help manage low-level offenders, rather than locking them up.

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