Venture capital investments in startups with at least one female founder
more than doubled between 2017 and 2018, according to the latest
PitchBook report – and that’s not the only takeaway from the data. Firms with women on their founding teams are likely to exit “one year faster than the rest of the market,” the report notes.
While the data demonstrate positive trends in terms of gender equality in the startup world, this can be illustrated even more deeply by profiling a few female-founded startups that have enjoyed successful exits.
Tatcha
Victoria Tsai started skin-care firm Tatcha in 2009 to help alleviate the dermatitis that she had on her face, and it worked so well that she sold her belongings to create the company so she could sell the products to others. Earlier this year, she
sold the business to CPG firm Unilever. Tatcha is said to have brought in $70 million in revenue during 2018 and Tsai says she hopes the Unilever acquisition will help the firm continue to scale.
Travel Noire
Travel and discovery platform Travel Noire was
acquired by Blavity two years ago. Founded by Zim Ugochukwu, Travel Noire offers travel information for black millennials, sharing insights from like-minded travelers. Ugochukwu is the US-raised
child of Nigerian immigrants, and her startup had been named among Fast Company’s Most Innovative Companies.
Cloudflare
In September, cloud-based network service provider
Cloudflare launched its IPO, and co-founder Michelle Zatlyn said the company is working to invest in its R&D and products, as well as reviewing potential acquisitions. The company had revenue of $193 million in 2018
and raised $565 million during September 2019, when its IPO took place.
Mariana Tek
Earlier this month, business management software firm Mariana Tek
was acquired by Advent International. Mariana, which makes software for the boutique fitness industry, was founded by Stacey Selden. Selden is a serial entrepreneur, having sold control of the business management platform Flywheel Sports five years ago.
Stitch Fix
Two years ago, web-based personal shopping firm
Stitch Fix launched its IPO, raising $120 million during the event. The company, founded by Katrina Lake, uses data science and human stylists to choose clothing for customers. Lake remains the CEO of the company and is also on the board of female-founded beauty firm Glossier.
Eventbrite
Public ticketing firm
Eventbrite launched its IPO last year, releasing 10 million shares priced at $23 each. Cofounder Julia Hartz
told CNBC that the firm was working to use the funds to continue its growth trajectory, which could mean expanding into new categories or countries. Event creators can use the site to sell tickets to their functions, she noted.
Schmidt’s Naturals
Jaime Schmidt founded natural deodorant firm Schmidt’s Naturals out of her kitchen in 2010, and by 2017
she sold it to Unilever. She continues to work on the business, but also launched an investment fund to support other founders. “Our products were in every type of retailer, to reach as many people as possible,”
she said. “We sold mass, of course. But you would also find us in mom-and-pops, luxury spas, co-ops, and natural food stores. We didn't say no to any distribution channel.”
SheWorx
A firm that helps female entrepreneurs network, SheWorx was
acquired by equity crowdfunding platform Republic earlier this year. Founder Lisa Wang built the company for four years prior to the acquisition, bringing it to a membership of almost 20,000 women who
worked together to scale their firms. “If you’re going to create any significant change, you can’t keep going down the same old path you’ve always been on,”
she said.
Authors
Neha De
Neha De is a writer and editor with more than 13 years of experience. She has worked on a variety of genres and platforms, including books, magazine articles, blog posts and website copy. She is passionate about producing clear and concise content that is engaging and informative. In her spare time, Neha enjoys dancing, running and spending time with her family.
