CHICAGO, Dec. 17, 2018 /PRNewswire/ -- 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% 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% 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."
Grotech partner Julia Taxin and Initialized Capital partner Alda Dennis will join The Mom Project board.
"The Mom Project is determined to create a future where women aren't forced to choose between their families and their careers," said Alda Dennis, partner at Initialized Capital and new Mom Project board member. "There is a huge pool of experienced talent, parents and non-parents, that is sometimes overlooked because companies haven't created the kind of diverse, flexible workplace culture that attracts and retains them. Initialized wants to be part of making this cultural shift happen."
The Series A investments will be used to connect millions of moms with world-class brands who need their skills. The funding will also help develop new Mom Project offerings that provide a curated experience for women throughout their journey of working motherhood.
"Companies have started to realize the value in building a diverse workforce, but we still have a long way to go in achieving equal representation and opportunities," said Julia Taxin, partner at Grotech and new Mom Project board member. "Allison and her team have built an incredible marketplace of diverse talent for companies and I look forward to working with The Mom Project to execute on their vision of helping to close the gender gap in the workplace."
The Mom Project is the leading career destination for moms. With a community of over 75,000 talented professionals and more than 1,000 companies, The Mom Project is committed to building a better workplace for mothers and the businesses they support.
SOURCE The Mom Project