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A Chicago-based startup that helps companies hire female candidates raised a new round of funding to help more women through this challenging job market.
The Mom Project announced Wednesday that it raised $25 million in Series B funding. The round was led by 7GC, a San Francisco-based VC firm. Other backers include Citi, Synchrony, High Alpha, Silicon Valley Bank, Initialized Capital, Grotech Ventures, OCA Ventures, Aspect Ventures, Wintrust Financial, IrishAngels and Engage Ventures.
The Mom Project has now raised $36 million since it launched in 2016.
Founded by CEO Allison Robinson, The Mom Project has created an online platform that helps connect viable female candidates to employers with open positions---taking a special interest in helping moms who left the job market re-enter the workforce.
Its platform has amassed more than 275,000 users and over 2,000 companies, including brands like Apple, Nike, Gap and BP. The Mom Project was one of Chicago Inno's 20 startups to watch in 2020.
As the coronavirus pandemic takes a toll on businesses, particularly small businesses, The Mom Project recently launched the Stronger Together Fund, a $500,000 fund that provides grants to small businesses that have been hit hard during the Covid-19 pandemic. The startup said the grants will help companies extend current staff and stimulate hiring plans to onboard more moms during the crisis.
“We’re in a unique moment in time where companies are embracing flexible work and prioritizing inclusion, and the moment is right to rapidly accelerate our efforts to unlock the potential of moms in the workplace,” Robinson said in a statement.
Earlier this year, tennis superstar Serena Williams joined the startup as a strategic investor. Williams' husband Alexis Ohanian, the founder of Reddit, invested in The Mom Project though his VC firm Initialized Capital. Though Ohanian left Initialized just last week.
The startup said it will use the funding to expand its platform and continue to support women beyond their job search.
“We’ve proven to our customers that hiring and retaining moms isn’t just a nice thing to do. It’s good business, and we’re empowered by the scale of impact we can achieve with this round of funding," Robinson said.
