The Mom Project Secures $25M in Series B Funding
The Chicago-based startup is the leader in helping businesses attract and retain female talent. The round brings total funding to $36 million since its founding in 2016.
The Mom Project, the leading career destination for moms, announced a $25 million Series B funding round led by growth investment firm 7GC. Additional participants include Citi, Synchrony, High Alpha, and Silicon Valley Bank, alongside existing investors Initialized Capital, Grotech Ventures, OCA Ventures, Aspect Ventures, Wintrust Financial, IrishAngels, and Engage Ventures.
HR Technology News: Terminal Named a Best Place to Work by Inc. Magazine
The Series B round brings The Mom Project’s total funding to $36 million, and will be used to connect millions of moms with small businesses and family-forward leading brands such as Apple, Nike, Gap Inc., Invesco, and BP — especially as businesses and employees adapt to the future of working remotely amid the coronavirus pandemic. The funding will also be used to expand its enterprise product offerings, deepen channel partnerships, and introduce new ways to support women throughout their motherhood journey beyond their job search.
Women and minorities have disproportionately been affected by the coronavirus pandemic, not only in the affected job types and industries, but also in the increased demands as primary caretakers at home. Approximately 60% of jobs eliminated in the first wave of pandemic-induced layoffs were held by women, with women of color making up a disproportionate share of some of the hardest-hit industries.
“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,” said Allison Robinson, Founder & CEO of The Mom Project. “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.”
HR Technology News: TecHRseries Interview with Michelle Boockoff-Bajdek, CMO at SkillSoft