The U.S-based startup Chief raised USD 100 million in a Series B funding round on March 31, 2022. Chief is a private network for women in leadership. The startup focuses on driving more women into power positions and keeping them there.
An independent growth fund of Alphabet (Google’s parent company), CapitalG led the Series B round. The funding also saw participation from General Catalyst, GGV Capital, Inspired Capital, Primary Venture Partners, Flybridge Capital Partners, and BoxGroup.
The recent funding turned Chief into a unicorn. The Series B round brought the company’s valuation to USD 1.1 billion.
Purpose of Funding for Chief
With the latest funding, the company will invest in its platform. The platform will include more personalisation features that better connect members and serve them relevant business insights. Besides, the Chief will focus on developing new and next-generation products that help members harness the power of its network.
The startup also seeks to build on its relationships with businesses, educating them on the value of Chief membership to encourage sponsorship so that the world’s leading women executives can benefit from its services.
The Chief will also continue focusing on diversity, equity and inclusion in executive leadership. The startup will double its donations to support underrepresented executives and commit USD 1 million annually to nonprofits. Its nonprofits align with the Chief’s mission to change the face of leadership.
What the co-founder has to say
Carolyn Childers, Co-Founder and CEO of Chief, said, “Women have always been powerful, and our goal is to magnify and cross-pollinate that influence, so women executives have a global network to support them. We’re proud to partner with CapitalG and welcome Laela to Chief’s board. Laela exemplifies the power of women as change-makers for great businesses and is a champion of the transformative impact women can have when they are at the helm.”
What the investor has to say
“It’s our goal at CapitalG to seek out truly generation-defining leaders capable of redefining a sector–leaders precisely like Carolyn and Lindsay,” said CapitalG general partner and Chief board member Laela Sturdy.
She further added, “Under their leadership, Chief has developed a world-class technology platform to nurture the vital in-person and virtual connections and personal and career development that help executives thrive. I’m thrilled to join Carolyn, Lindsay and the entire Chief team on their journey to elevate more women to the upper echelons of business success– and help keep them there.”
Laela Sturdy, General Partner at CapitalG, will join the Chief’s Board of Directors as part of this deal.
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