As a renowned figure in the marketing world, Emily Kramer has made headlines for her professional expertise and voice. Her journey began at Carta, where she served as Vice President of Marketing, but it was her lawsuit against the company in 2020 that brought attention to the industry. Kramer accused Carta of gender discrimination, retaliation, wrongful termination, and violating the California Equal Pay Act.
The Lawsuit and its Aftermath
The lawsuit was filed three years ago, and recent filings indicate that the settlement was reached a month ahead of the case’s impending trial date. Emily Kramer declined to comment further on the matter. However, she acknowledges that this experience has had an impact on her career. "It definitely impacted where I am now," she said. "This was an inflection point."
MKT1 Capital: A New Venture
Kramer is now one of many former Carta employees involved in legal battles with the company. However, she has moved forward and co-founded MKT1 Capital alongside Kathleen Estreich. Estreich previously led marketing and operations teams at Box, Facebook, and Scalyr.
MKT1, which stands for a play on their initials and the word "marketing," closed $5 million in investment capital last year from over 85 individuals. The firm has announced that it is pivoting to a 506(c), allowing public solicitation of fundraising, with the hopes of raising another $5 million.
A Strategic Approach to Venture Capital
Estreich emphasized that starting with a private fundraise was always part of their plan. After achieving early traction, they decided to switch to a raise that would allow accredited investors outside of their community to invest. This approach is similar to that of Sophia Amoruso and Turner Novak, who have successfully transitioned from private to public fundraising.
Kramer and Estreich aim to reframe the messaging around marketing in the tech industry. By investing in companies that need support and on-ramping a network of marketing professionals into angel investing, they want to create a more inclusive and diverse environment.
The Importance of Marketing in Venture Capital
"You have to be as good at distribution as you are at building a product," Kramer said. "We really think of marketing as a strategic lever and in some ways it is under-utilized and under-supported." Part of the reason behind this, she added, is that unlike sales, marketing results can be harder to measure and may lead to longer-term revenue goals rather than immediate short-term results.
Marketing Professionals in Venture Capital
The investors believe there is eagerness among marketing professionals to not only shape stories but also write checks. However, Kramer points out that less than 1% of angel investors on the investing database Crunchbase are marketers. They don’t know where to go or how to get involved.
MKT1’s Success
The co-founders’ approach has been successful so far, with MKT1 Capital closing $5 million in investment capital last year from over 85 individuals. As they continue to grow and develop their strategy, Kramer and Estreich aim to create a more inclusive environment for marketing professionals in venture capital.
Conclusion
Emily Kramer’s journey is an inspiring example of how one person can make a difference in the industry. From her time at Carta to co-founding MKT1 Capital with Kathleen Estreich, she has demonstrated a commitment to innovation and inclusivity. As we continue to follow their progress, we may see even more exciting developments in the world of marketing and venture capital.
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