With $15M, The Riveter plans to open 100 new female-focused co-working areas –


In a disappointing 12 months for female-founded startups — a minimum of these seeking to increase enterprise capital — The Riveter not solely closed its first institutional funding spherical, nevertheless it’s at the moment saying a $15 million Collection A funding, bringing its complete backing to $20.5 million.

The Seattle-based co-working startup, led by co-founder and chief government Amy Nelson (pictured), has raised the capital from lead investor Alpha Edison, with help from Madrona Enterprise Group, New America president and CEO Anne-Marie Slaughter, designer Liz Lange and TOMS founder Blake Mycoskie .

As of November, startups based by all-female groups had closed 391 offers value $2.three billion, a rise from the $2 billion invested in 2017, although nonetheless simply 2.2 % of all VC invested this 12 months.

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Nelson, an advocate for feminine entrepreneurs who’s spoken publicly about ladies’s struggles within the office, the difficulties of launching a enterprise in a person’s world and elevating enterprise {dollars} as a solo feminine founder, began The Riveter in 2016 after a decade-long profession as a lawyer. At present, the startup operates 5 areas within the U.S., with bold plans to open one other 100 female-focused co-working areas by 2022.

“I would like The Riveter to be the place folks consider once they consider ladies and work,” Nelson advised .

The Riveter has 2,000 members all through its areas in Seattle, Bellevue, Wash. and Los Angeles. Its enlargement plans embody new spots in Texas, Colorado and Portland.

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The areas are constructed with ladies in thoughts however will not be unique to at least one gender. Nelson tells us The Riveter’s membership is 25 % male, setting it other than areas like The Wing, which is barely accessible to female-identifying folks.

A glance inside considered one of The Riveter’s Seattle co-working areas

“I don’t assume the long run is feminine, I feel the long run is fluid,” she stated. “Gender is changing into an outdated concept however on the identical time, it’s essential to consider ladies after we construct these areas … There may be a number of worth to ladies’s solely areas however our tackle it’s we need to redefine the way forward for work for girls and we wish everybody to be a part of it.”

The Riveter offers area to work and collaborate; a digital community, at the moment in beta, for its members to attach; and programming starting from workplace hours with enterprise capitalists to “self-care Saturday.”

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Different buyers within the startup embody Good Ventures, The Helm and X Issue Ventures.


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