WILLIAMSON, W.Va., Dec. 10, 2021 /PRNewswire/ -- Appalachia Made Company, a company founded in 2016 to diversify the local rural economy, create sustainable wage jobs, and reframe the national narrative of Appalachia has successfully closed a round of financing from Wing 2 Wing Ventures, co-founded by Brad Smith, former CEO of Chairman of Intuit, and L37 Ventures, a Silicon Valley and TN-based venture firm. The use of proceeds will be leveraged to expand operations and continue to support local entrepreneurs in their efforts to scale sustainable businesses.
"We are fortunate to have Wing 2 Wing Ventures and L37 Ventures on our team to help scale our company's initiatives in Williamson and in broader Appalachia. This capital enables us to hire more talent in the region and continue to grow our businesses here and scale them to other regions," says Jody Gooslin, Co-founder of Appalachia Made Company.
"This was an easy investment to make as I have been watching what Dr Beckett," Co-founder alongside Jody Gooslin "and team have been accomplishing over the last 4 years. They have created 8 companies that are viable and sustainable, creating jobs in the region that matter," says Brad Smith.
The companies range from local eateries to hospitality and tourism to healthcare and real estate. Dr Dino Beckett says, "we started Appalachia Made Company with the intent to diversify the economy and jobs in the region. We had been hit so hard by the loss of quality coal jobs and the opiate crisis, the only thing we could figure out to do was build or help grow our local companies in the region and provide opportunities to entrepreneurs that did not exist. We are just beginning and with the help of Brad, Wing 2 Wing Ventures and L37, along with other regional partnerships, we will continue our long term economic development initiatives and reframe the narrative of this area."
When we started Appalachia Made, our mission was simple: diversify the economy, create sustainable wage jobs, and reframe the national narrative around Appalachia. We've grown up and spent a lot of time in Appalachia to know that the people, work ethic, and passion are limitless. It's why we believe investing in and growing our local, sustainable companies is one route to attaining our mission.
L37 is a new generation, hybrid venture capital and private equity firm. The firm works alongside executive and founding teams leveraging frameworks, capital, and talent to engineer opportunities and impact at scale, regionally and globally.
For more information about L37, visit: www.L37.vc.