When Ann Crady Weiss pitched her first start up — a social network known as Maya’s Mom that would allow mothers to seek advice and share their experiences — male investors weren’t exactly enamored with the idea. “There were many investors I spoke to who said moms don’t have time for social networks,” Weiss told Mashable. Weiss would, of course, prove those investors wrong: Maya’s Mom would raise $1 million in angel funding in 2006 before being acquired by a division of mega baby brand Johnson & Johnson a year later. But Weiss’ story isn’t exactly shocking or unique: it’s well-known that women in tech aren’t embraced by the primarily male venture capitalist community. Only about 5% of venture capital for new startups goes to companies headed by women. Now Weiss is the co-founder and CEO of her second startup: Hatch Baby, which produces products to help new parents, like a changing pad that tracks a baby’s weight, growth, and feeding patterns. While Hatch Baby has already brought in $7 million in Series A funding, Weiss turned to an unusual source of funding for a proven Silicon Valley CEO: ABC’s “Shark Tank.” The competition show, in which entrepreneurs pitch celebrity […]
Continue reading... →One angel investor wants an investment portfolio full of women. Jonathan Sposato, a Seattle-based entrepreneur and the CEO of photo editing software PicMonkey, made a bold announcement last week at the Seattle Angel Conference that he’d only fund companies with one or more female founders. Women often have a more difficult time securing funding—numbers from CrunchBase show that companies with female founders only make up about 19% of seed and angel investments, and that number dwindles down as companies progress to each funding stage. But the good news is the number of female founders are on the upswing. According to that CrunchBase data, the percentage of startups with at least one female founder rose from 9.5% in 2009 to 18% in 2014. “Female entrepreneurs do have a harder time getting traction—whether that’s raising money, getting their concepts across, or even recruiting,” Sposato said in an interview with Mashable. “You can’t just take those issues and not do something about it. If you feel passionate about something, you have to be the catalyst.” Sposato says part of the problem comes from investors’ tendency to pattern match, or support startups that resemble other successful companies they funded that got off the ground. […]
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