Women executives in South Florida have a new resource for networking and mentorship.
Chief, a network for women executives backed by millions of dollars in investment capital, launched virtually in Miami last week, marking the seventh U.S. city where the company offers its membership services. The startup, headquartered in New York, reports it is the only organization specifically designed for women at the corporate VP level or above.
Co-founder and Chief Brand Officer Lindsay Kaplan said Chief experienced a surge in applications from the South Florida area since 2020, coinciding with a wave of new business and investor relocations to the region.
"As more company headquarters, remote workers, investors, and startups relocate to Miami, we know executive women are searching for a strong network of peers," she said.
Chief has flagship locations in New York City, Los Angeles and Chicago and virtual communities in San Francisco, Boston and Washington, D.C. The company moved its programming to a virtual setting in response to the Covid-19 pandemic and does not plan to establish a physical space in the Miami area at this time.
Kaplan said Chief members must be women who hold an executive role within their organization who are committed to helping other women reach leadership positions. Members have access to executive-coach led peer groups, specialized workshops and off-the-record conversations with prominent female leaders from a variety of industries. The goal is to help members expand their own professional networks and build online connections that spark offline communication and collaborations.
Chief has raised $40 million in venture capital since its founding in 2018, with investment rounds led by Cambridge, Massachusetts-based General Catalyst and New York-based Inspired Capital Partners.
Women are still largely outnumbered at the executive and C-Suite level, offering fewer opportunities for mentorship and career support. That gender diversity imbalance is prevalent even among the nation's largest companies. In 2021, 41 women were among the chief executives included in the Fortune 500 – an all-time high. But they still only represented 8% of the executives on that list.
Covid-19 is poised to deepen that divide. The U.S. labor force participation rate hit a 33-year low for women in January after an estimated 5 million women lost employment during the pandemic, according to the Bureau of Labor Statistics. In a March "Women at Work" survey from SurveyMonkey, nearly half of working women said they feel burned out and one-third said they had thought about quitting their jobs over the past year.
"Our services are needed more than ever as women leaders navigate professional and personal challenges," Kaplan said.
Chief reports 81% of its members say the company helped them strengthen their professional networks and 70% say it helped them better navigate workplace challenges. Membership costs range from $5,000 to $8,500, with a majority of those sponsored by employers.
Chief is currently accepting applications for Miami memberships. It plans to officially begin virtual services for regional members this fall.
For more stories like this one, sign up for Miami Inno newsletters from the South Florida Business Journal and the American Inno network.
