New York City is a city full of opportunities and flare.
According to recent data released by the Female Founders Fund, New York City has the most women founders of companies in the world.
From the Female Founders Fund report, ” An early-stage fund investing in the exponential power of exceptional talent,” calculated these statistics based on Series A rounds.
Series A rounds are the first rounds after seed capital has been raised. In other words, investors can now own part of the company.
Series A rounds for investors are considered to have more risks than Series B and C.
They discovered that the startup companies with female CEOs consisted of 17% Series A’s in New York in 2016.
New York has always been the destination for people to achieve their dreams and Anu Duggal, the found parter of Female Founders Fund, would agree.
“When you think about New York, you have a lot more diversity of industry. You have women who’ve worked in retail, fashion, marketing, media, and finance. You’re leveraging their backgrounds.”
Not only is there a growth of Series A rounds, but there is a great increase in the number of Series B rounds that Duggal is very proud of.
Rent the Runway, a New York based fashion company with a tech side to it, was recognized to have the largest Series E. They were funded $60 million.
For this reason, and going above and beyond their revenues, cofounders Jennifer Hyman and Jennifer Fleiss made it on Forbes’ 2016 Self-Made Women to Watch list.
Research also discovered other women-led companies but, this time e-commerce companies raising Series B rounds.
Some of the companies mentioned were Eloquii, Glossier, and Outdoor Voices.
“The future is female,” they say. We are headed in the right direction.
Are you an entrepreneur and happen to be a woman? There are several venture capitals that support women and their brilliant ideas.