[Funding alert] Female Leadership Network chief enters the unicorn club with $100 million in Series B
a US-based private network for women in leadership positions, raised $100m in Series B funding led by CapitalG, an independent growth fund from Google’s parent company, Alphabet, valued at $1.1 billion. With this, the company entered the unicorn club.
The round also saw participation from General Catalyst, GGV Capital, Inspired Capital, Primary Venture Partners, Flybridge Capital Partners and BoxGroup.
As part of the deal, CapitalG general partner Laela Sturdy has joined the lead board.
The company said the new capital will be used to invest in its platform, including adding more personalization features that better connect members and provide them with relevant business information, according to a TechCrunch report.
Founded by CEO Carolyn Childers and Lindsay Kaplan in 2019, Chief’s platform now has more than 12,000 female business leaders – mostly C-suite executives and VPs – in its network, from companies including HBO, American Express, Nike , Google, Goldman Sachs, NASA, Apple, IBM, Netflix, and Lockheed Martin. Another 60,000 women are on his waiting list, the TC report added.
The company also commits to donating $1 million annually to nonprofit organizations that promote diversity, equity, and inclusion in executive leadership.
Earlier this year, CapitalG also participated in an $80 million Series C funding round from Jakarta and Bengaluru-based Lummo (formerly BukuKas), a software-as-a-service (SaaS) startup that helps businesses small businesses to connect, much like Shopify, with Tiger Global and Sequoia Capital India. It also backed Gurugram-based fintech firm Aye Finance in June 2020 in a Series E funding round of Rs 210 crore, alongside Aye’s existing investors LGT Lightstone, Falcon Edge Capital, A91 Partners and MAJ Invest.
CapitalG also led a $15m Series B on Bengaluru’s after-school math learning platform Cuemath in 2017, shortly before the edtech startup turned to an online coaching model. .