Allocadia Leads with Women in Tech Initiatives on International Women's Day 2017 (#BeBoldForChange)

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 8, 2017) - Editors note: There is one photo accompanying this press release.

Allocadia, leaders in Marketing Performance Management software, announced today a series of initiatives to support women in technology in concert with International Women's Day, March 8^th, 2017.

Allocadia Conference Fund for Women in Tech

The company has partnered with Simon Fraser University to create a fund for women in the School of Computing Science to attend technology conferences across North America. Allocadia will provide an annual grant for this program over the course of three years, covering the costs of both travel and admission to events including the Grace Hopper Conference, Vancouver Start Up Week, Canadian Celebration of Women in Computing, and more.

"Improving gender diversity in computer science is a priority for our school," said Greg Mori, Director of the School of Computing Science at Simon Fraser University. "As one of the top computer science departments in Canada, we are committed to supporting women in technology and providing a comprehensive learning environment. This fund allows more of our female students to attend conferences-a valuable opportunity for networking and professional development-to meet leading women in the field and discover where a career in technology can take them."

Industry-leading Diversity Statistics

Allocadia also shared a nearly equal ratio of female to male employees as of February 2017, revealing 46% females among its team of approximately 100 employees. This exceeds industry reports that hold the average percentage of female employees at technology organizations at 30%.⁽¹⁾

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Industry-wide, female CEOs receive only 2.7% of all venture funding, and only 13% of female founders reach a B stage of financing. Allocadia's two female founders, CEO Kristine Steuart and CPO Katherine Berry, have raised a total of US$24 million (CAD$30 million) to-date, most recently closing a Series B financing round in December 2015.

Additional diversity statistics as of February 2017:

• 39% of technical roles at Allocadia are held by women, compared to industry averages of 26.2%. ⁽²⁾
• More than 50% of the company's board is comprised of women, whereas only 19.7% of F1000 board seats are held by women. ⁽³⁾
• The company's leadership team is 33% female, compared to a 28% average. ⁽⁴⁾
• Within management, including team leads, managers, and directors who lead teams, Allocadia reports 43% female employees compared to an industry average of 27.4%. ⁽⁵⁾

"Building a more inclusive and diverse company has always been at the heart of our values at Allocadia," said Steuart. "Together with my sister and co-founder Katherine, we believe it's important that our entire leadership team advocate for women in technology. This support spans every department of the organization in both our process and principles. We're proud to exceed industry benchmarks for gender diversity among tech companies, hope to set an example for our peers to follow, and continue to encourage women to be bold in their career aspirations."

Inclusive Hiring Practices

In response to findings that men will apply for a job when they meet 60% of the qualifications, but women only apply if they meet 100%⁽⁶⁾, Allocadia takes steps to ensure job descriptions are written to appeal to both audiences. For example, the company may indicate certain qualifications are important, but not required, and include the availability of job training to develop certain skills, in an attempt to garner a 50/50 ratio of male to female applicants.

"Throughout our rapid expansion, we've always prioritized inclusive and thoughtful initiatives to become an employer of choice for women," said Brianna Teschke, Manager of People and Culture at Allocadia. "In light of this year's global International Women's Day theme, 'Be Bold For Change,' we are proud to share our strategies for driving change within an industry known for its poor representation of women in technology and leadership positions."

As part of its dedication to an environment that accommodates women, the company offers specific programs for individuals returning from maternity leave, flexible schedules and remote work arrangements that seek to meet the needs of families with children.

Investment in Future Women Leaders

Last year, Allocadia provided an Emerging Leaders Development Program to its employees, offering coursework to help transition from an individual contributor to leadership role. Topics covered as part of this initiative included leadership principles, personal development, personal communication, performance, feedback, and motivating teams. 50% of those who participated in the program were female.

The company also hosts workshops aimed at teaching young women how to code, offered in partnership with organizations such as Ladies Learning Code, and Girls Who Code.

More information about Allocadia's Community Engagement initiatives (ACE) and open career opportunities are available on the company's website.

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⁽¹⁾ TechCrunch https://techcrunch.com/2016/05/10/the-lack-of-women-in-tech-is-more-than-a-pipeline-problem/

⁽²⁾ http://www.huffingtonpost.com/2015/03/27/women-in-tech_n_6955940.html

⁽³⁾ https://www.2020wob.com/companies/2020-gender-diversity-index

⁽⁴⁾ https://www.forbes.com/sites/susanadams/2014/08/05/companies-do-better-with-women-leaders-but-women-need-more-confidence-to-lead-study-says

⁽⁵⁾ http://www.catalyst.org/knowledge/statistical-overview-women-workforce

⁽⁶⁾ https://hbr.org/2014/08/why-women-dont-apply-for-jobs-unless-theyre-100-qualified