For introducing term sheets that make it easier for founders to get rid of harrassing investors
Carolyn Rodz is no stranger to entrepreneurship: She’s started two digital marketing businesses (one successful, one less so) and ran a luxury retail copmany. More recently, she launched a virtual accelerator aimed at women and people of color, then teamed up with fellow entrepreneur Elizabeth Gore to evolve that program into Hello Alice, a learning platform for under-represented founders. The platform has partners including eBay and PepsiCo and is free to entrepreneurs.
The partnership between Rodz and Gore has been key to the success of Hello Alice: Rodz and her family moved in with Gore and her family in the Bay Area – so four kids total -- to get Hello Alice off the ground. When Rodz’ dad died right before Hello Alice launched, Gore jumped in, and Rodz took over when Gore’s mom was diagnosed with cancer. And when possible, they’re looking out for their larger community of entrepreneurs. When Hello Alice raised its most recent round of funding, it designed legal language to make it easier to get rid of investors who turn out to be harassers or assaulters – and is making that language available to other founders, too. –Gabrielle Bienasz
For reimagining the gyno visit
In her early 20s, Carloyn Witte she had set of frustrating healthcare issues that showed her just how depersonalized and fragmented our healthcare system has become. That experience became the inspiration for Tia, which is a reimagining of what healthcare would be like, work like, and feel like if it were designed with women at the heart of it.
Tia started as a digital platform with a pre- and post-doctor's office tool, and has evolved into something more comprehensive. Last year, Tia launched its first physical clinic in New York, which now includes 15 physicians, physician assistants, registered nurses, therapists, and other treatment providers. The shelter-in-place order forced the clinic to close its doors, but Tia very quickly pivoted into telehealth and virtual services. Witte's goal is to eventually open offices in other cities around the country, delivering integrated women's healthcare that includes gynecology, primary care, behavioral health, and acupuncture.
Despite recently raising $24 million, Witte says funding is secondary to creating the right product. "Female founders and getting funded is very much in the spotlight right now for a good reason, but I think sometimes there's a little bit too much focus on the raising money part and not enough focus on building a product and getting product-market fit.” That fit, she says, is “the best thing women can do to get funded."
Because you shouldn't have to worry about what's in your fragrance and skincare products
Los Angeles-based Skylar, founded by Cat Chen, is a clean fragrance and personal care brand started three years ago. Her infant daughter's allergic reaction to a perfume she was wearing inspired Chen to go on a mission to find a 'clean' fragrance, only to discover there weren't any on the market.
Before Skylar, Chen worked at the Honest Company, Jessica Alba's clean baby products company, which gave her an insight into clean products and ingredients. Chen left Honest and bootstrapped Skylar from the ground up. Her goal was to create something designed for people with sensitivity but made for and available to everybody.
Skylar saw success early on, when only a few months into the business, Sephora reached out and expressed interest in launching the brand. “Because I bootstrapped my company, I was almost forced to stay close to [my customers],” says Chen. “I packed all my packages and made all my products. I answered all my emails. I answered comments on social media. I had to because I had to do everything. Through that process, I was able to iterate really fast because I got customer feedback really fast."
It’s paying off. A year and a half later, Skylar is found in 300 Sephora stores throughout the US and Canada. Last year also saw Skylar’s first investment from Kara Nortman of Upfront Ventures. Now, all of Chen’s significant investors and her board are women.
For talking about -- and taking on -- the vaginal health problems much of medicine would rather ignore
Colette Courtion knew that pelvic floor rejuvenation might not resonate with investors, who are mostly guys. After she got pregnant, her friends said that after having the baby she might pee every time she jumped up and down. Courtion was galled at the pervasiveness of postpartum incontinence the and the lack of options for fixing it.
Prior to founding Seattle-based Joylux in 2014, Courtion was CEO of JeNu, which sells ultrasonic and light therapy devices to fight wrinkles and founded Calidora Skin Clinics, now owned by SkinSpirit. Before that, she was a marketing executive at Starbucks and financial analyst at PepsiCo. Courtion thought: why not bring skin rejuvenation technology to the pelvic floor?
She helped to create an FDA-approved device called vFit that increases blood flow to the vagina and surrounding areas to improve lubrication and fight incontinence. Raising money was as tough as you might expect. “For every yes, I heard 100 no’s. But I just kept at it,” she says. Last year, Joylux raised $7 million with investors such as Gingerbread Capital and Alliance of Angels. It also got the Gwyneth Paltrow seal of approval, as Vfit became available on Goop. – Gabrielle Bienasz
For making menstrual periods more manageable and less shameful
“Think bigger.” That’s Crystal Etienne’s go-to advice when women reach out, wanting to follow in her footsteps: six-figure sales her first year out of the gate, and now $15 million in venture capital and $25 million in annual revenues. “You don’t have to stay a mom-and-pop business,” she says. “But to achieve big things, you have to think bigger. Think like a unicorn.”
Etienne speaks from experience. In 2015, she developed a line of period panties, that, unlike the few competitors on the market, could accommodate pad inserts. When the emails she sent to potential funders went unanswered, Etienne quit her day job in business operations and sunk $25,000 of her personal savings into launching PantyProp (later rebranded as Ruby Love). She used the money to make a small run of underwear in New York City’s garment district in 2016, and used SEO marketing to target moms with teen and tween daughters. “I went all in,” she says. “My husband wanted to kill me, but once I had the idea, I really believed in what the product was going to be.”
Within two years of bringing the period panties to market, she’d crested the $1 million sales mark and expanded into period-proof swimwear, activewear and pajamas. Ruby Love was profitable, and Etienne relished the postiive emails she’d get from moms thanking her for helping their daughters feel more comfortable and confident in their bodies. Treading water would have been easy – but it wasn’t enticing. “I realized I needed to take this bigger if I wanted to help more people,” she says.
To grow at an exponential scale, personal savings weren’t going to cut it. But when Etienne had pursued investors in the past, she’d been met with deafening silence. “I have three strikes against me: I’m a woman, I’m Black, and I’m selling direct-to-consumer,” she says. Research shows that Black women lead about four percent of the nation’s startups but receive well under one percent of venture capital funding each year. Add to the mix that Ruby Love focuses on period products, and, “I am the true underdog,” she says.
Rather than reach out to investors again, Etienne joined an incubator. She came armed with in-depth knowledge of her customer, the market, and her vision of scaling. At the first pitch, “the investors saw dollar signs,” she laughs. With one investor interested, others flocked. In July 2019, Ruby Love closed a $15 million financing round, allowing Etienne to expand her small team to 43, dramatically expand digital advertising and map out future product launches. When the start-up held an in-person “puberty party” in October 2019, moms and grandmothers waited in line for as long as four hours to get inside to help their young daughters and granddaughters build personalized my-first-period kits and get pampered. “There are a lot of Black women who want to speak to their daughters about personal care and hygiene,” she says. “This makes that easier.” –Kate Rockwood