Joonko, a technology startup focused on diversity, equity, and inclusion (DEI), is facing allegations of misleading investors by falsely claiming partnerships with major US companies and inflating the size of its business. The New York-based startup, known for its AI-powered job recruitment platform, raised $25 million in funding but is now on the brink of collapse. Several companies, including American Express, PayPal, Accenture, and Atlassian, have denied any affiliation with Joonko. The founder and CEO, Ilit Raz, is accused of fabricating the company’s client base and engaging in fraudulent activities. Reports suggest that Joonko’s website was taken down following news of the allegations. Insight Partners, a well-known venture firm, led the funding round but claims to have been unaware of the alleged misconduct during their due diligence process. The board of directors is currently investigating the company’s financial records, and the future of Joonko remains uncertain.
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