Female Entrepreneur Newsbriefs - Lioness Magazine
News Briefs

News Briefs: Dec. 21: The Mom Project Raises $8 Million, L’Oréal Canada Promotes Women Entrepreneurs In Tech

Fundraising

Momni

Momni, Inc., has secured additional funding of more than $1.75 million to expand its care-sharing app, which connects moms to moms for premium childcare in their own neighborhoods and communities.

This recent round brings the female-led tech company’s total fundraising to more than $2 million. The round was led significantly by Tamarak Capital, a Utah family office, and was accompanied by investors from Utah venture service firm RevRoad and angel investors.

Karmel Larson, founder of the new caresharing app Momni, celebrates a funding deal of more than $1.75 million with Tamarak Capital Partner Nate McBride. Momni connects moms for high-quality childcare using a sharing-economy model and easy-to-use apps for both Android and iOS. The funding will help aggressively expand features and open new markets.

“I am so grateful for all the support I’ve received as Momni has taken off,” said Karmel Larson, Momni Founder and CEO. “Statistics show that it’s hard for female startup founders to get funding, and I am encouraged by the overwhelming interest we’ve received to help moms worldwide support one another with a cutting-edge and network-based childcare platform.”

Larson was inspired to start Momni after learning about the global childcare crisis in 2017.  The company released iPhone and Android apps earlier this year to help moms connect with one another digitally.

Mom Project raises $8M

The Mom Project, the leading career destination for moms, announced $8 million in Series A funding led by Grotech Ventures and Initialized Capital today. Additional investors include Aspect Ventures and existing backers Atlanta Seed Company, Engage Ventures, OCA Ventures, BBG Ventures, IrishAngels and Wintrust Financial.

The new round of financing brings the company’s total funding to $11 million and will help The Mom Project expand the reach of its female diversity hiring products used by some of the nation’s largest employers including AT&T, Procter & Gamble and BP.  With the new funding, The Mom Project will be the largest company in the nation wholly focused on helping moms succeed in the workplace.

The Mom Project was founded in 2016 when CEO Allison Robinson – on maternity leave from her strategy role on the Pampers North America team — read a Harvard Business Review study showing that 43 percent of skilled women exit the workforce after having children. Frustrated by a lack of solutions despite the media attention, Robinson set out to solve the problem on a national scale.

“We’ve tapped into something powerful. For decades, women have searched for a solution like The Mom Project,” said Robinson. “What’s different now is that most employers are now paying attention to gender diversity and see the impact that ignoring it has on their financial performance. Since 86 percent of American women will become mothers by age 44, we believe supporting and retaining moms in the workforce represents the largest opportunity to close the gender gap in the United States.”

Personnel

Executive Vice President

Recently chosen by LinkedIn as one of the Top 25 Startups in Canada, the rapidly growing product development firm Connected is introducing a new senior function—Executive Vice President, Growth & Client Experience—to drive the startup’s ambitious goal of creating and leading a new category of consultancy: the product development firm.

Appointed to this newfound position is Tammy Chiasson, a seasoned marketer, strategist, and all-around business leader with more than 17 years experience on both client and agency sides. Chiasson has held many leadership roles, and has extensive background in brand and customer experience, digital transformation, and product development. Her promotion to EVP Growth & Client Experience follows a string of promotions last month—including the appointment of Connected Cofounder, Damian McCabe, to EVP Product Development.

“When I was first introduced to Connected, I was immediately intrigued,” said Chiasson. “In my previous role, I saw first-hand the failings of a siloed approach to product development for customers and builders alike, so the Connected vision of an integrated product development firm instantly resonated with me. Products can’t succeed and certainly can’t be developed at the pace required in today’s world without bringing strategy and execution closer together, and at Connected we solve for desirability, viability and feasibility together. I am thrilled to be in this new role and to be able to deliver impact for our clients.”

Director of Marketing

Sarah Brown has joined revolutionary new SexTech startup Lora DiCarlo as Director of Marketing. Brown, formerly the Trade Marketing Manager at LELO, has over 6 years of experience in product development, branding, distribution, and retail in intimate wellness and sexual health. She is also currently up for the Marketing Executive of the Year award at the 2019 XBIZ Executive Awards.

She will be responsible for all of Lora DiCarlo’s marketing and sales strategies as the company prepares to launch its first product in 2019.

“We are thrilled to welcome Sarah to the Lora DiCarlo team,” says Lora Haddock, Founder and CEO of Lora DiCarlo, “Her passion for women’s health and her drive to give women more and better options in every category is truly inspiring. With her experience in the industry, and understanding of customer needs, her leadership is going to be invaluable as we launch our first range of products in 2019.”

Launch

Women in Digital

L’Oréal Canada is launching the first Canadian edition of the Women in Digital program, in partnership with URelles and Campus InfoPresse. The program focusses on encouraging and promoting women entrepreneurs in technology by providing funding opportunities and support.

The program arose out of the observation that women entrepreneurs are underrepresented in tech in Canada. A study conducted in November 2017 by Toronto organization #movethedial and co-drafted by PwC Canada and MaRS Discovery District found that among 900 Canadian technology firms, women hold only 5% of CEO positions and 13% of all executive team positions. Nearly half (53%) of the tech firms have no female executives. On average, women occupy 8% of the management positions, while 73% of the companies don’t have any women on their boards of directors (source: Where’s The Dial Now? Movethedial.com).

The Women in Digital program has three stages: nominations, preselection and final selection. The winner will receive her prize at a gala in May 2019. The preselection committee will be made up of three experts. The jury for the final selection will include four Canadian tech and digital personalities and one L’Oréal Canada executive. All will be invited to play a role in the selection process and to offer guidance to the future winner. The names of the preselection committee and final jury will be revealed in January 2019.