Investment brings expansion, enhanced member benefits and new female investors to the table.
Today is a big day for The Riveter. We’re excited to announce that we’ve just closed our Series A funding round of $15 million. In a world where only 2.2% of female-founded companies receive venture capital investment, this news is a testament to the incredible community that The Riveter members have built over the past 18 months.
We’ve had a lot to celebrate over the last 18 months. The Riveter community has grown to five locations and more than 2,000 members. Our members’ successes have kept us going – we’ve seen companies grow, female founders receive their first VC investor checks while working from The Riveter, and we’ve watched countless relationships form between members.
This announcement is so important to all of us at The Riveter because it allows us to provide an incredible experience for you, our members. We’re excited to bring more programs, events with luminaries, and benefits our members love, like discounts on the goods and services they use the most, and partnerships (like the one we have with Alaska Airlines) that move business forward. All of this allows us to grow and strengthen The Riveter community.
The Riveter’s entire business is built on our vision of a world in which equality of opportunity in work is not a promise, but is a reality. This raise is significant at a time when venture capital funding for female-founder teams remains stagnant at a shocking 2.2 percent. With this round, we also wanted to change the ratio and provide an opportunity for more female investors to partner with us at every funding level. We were intentional about the gender balance of the investor mix; 55 percent of this round’s investors are women.
The Riveter is built by women for everyone. We know that the future of work will be equitable only if everyone – regardless of gender – works to make it so. We’re excited to be on this journey and hope you’ll join us.