Feel Good News for the Holidays: 3 Female-Led Companies Get Funding
Let’s hear it for these female entrepreneurs who recently secured investments to fund their fashion, health, and gaming startups.
By Betsy Mikel (Contributing Writer, Women 2.0)
It’s disheartening when research shows male founders are more likely to be funded than companies founded by women. Stanford’s Clayman Institute for Gender Research reports that women-led businesses only get 4.2% of venture capitalist funding.
But enough with the bad news.
The good news is that more female entrepreneurs are starting new businesses, and more of them are securing funding to help their big ideas grow in the market.
Here’s a quick roundup of a few female-founded companies that recently secured funding:
U2 Frontman Bono Invests in Luxury Consignment Site Shop-Hers
Just one year after Jaclyn Shanfeld launched an online marketplace for women to resell their designer merchandise, Shop-Hers secured $3.5 million in funding. Bono’s equity firm Elevation Partners is one of the investors. “At Shop-Hers we are committed to changing the way the world perceives and ultimately shops sustainable fashion,” Jaclyn Shanfeld said in a press release. “Bono is no stranger to massively influencing human behavior and with him beside us we are certain that our dream will be realized that much faster.”
RenovoRx Secures Funding for Pancreatic Cancer Treatment
Medical startup RenovoRx developed a device to improve pancreatic cancer treatment. The adjustable double-balloon catheter streamlines the delivery of chemotherapy directly to the pancreas without affecting other organs.
In a competitive round of funding, RenovoRx raised $1.15M. Investors include Astia Angels (a group of investors who focus on women-led, high-growth ventures), Halo Fund, Sand Hill Angels, and Golden Seeds. Led by CEO Marta Gaia Zanchi, PhD, RenovoRx is just one of many female-founded health startups that are working to improve our health care and save lives.
Social Gaming Startup Plumbee Receives $13M in Funding
The London-based social casino gaming startup recently secured its largest investment yet. Global entertainment company Endemol announced it would invest a strategic $13 million in Plumbee, which offers both free-to-play and real-money casino games. CTO Jodi Moran is one of the three founders who worked together at social gaming company Playfish before starting Plumbee in 2011. According to a press release issued last year, women account for the majority of Plumbee’s gamers and the average female user is age 52, with approximately 5% over 65.
Which female-founded company are you most excited to hear funding news about and why?
Betsy Mikel is a freelance copywriter and content strategist who helps brands, businesses and entrepreneurs tell their stories. A journalist at heart, her curiosity drives her to find something new to learn every single day. Follow her on Twitter at @betsym.