Women startup funding, already dismally low, drops in 2020
source link: https://www.fastcompany.com/90678598/report-funding-for-women-led-startups-is-still-dismally-low
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Report: Funding to women startup founders dropped in 2020 and it was already dismally low
But Crunchbase data finds that more women-led companies went public this year, including Bumble, Figs, Maven, and Savage x Fenty.
According to the latest report from Crunchbase, there’s good news and bad news for female founders in 2021.
First, the bad news. Funding to women founders dropped 22% year-over-year in 2020 and dwindled to just 2.2% of all venture funding through August of 2021. This is lower than what it’s been the past five years. However, with a male cofounder alongside, that number jumped to $15.9 billion or 11.7% of total funding.
Now for some positive stats: Venture capital investors were putting their dollars into seed and early-stage startups founded by women. Sixty-one percent of total funding that went to female-founded companies this year was to startups in those stages of growth.
And finally, 2021 was a banner year for IPOs of women-led companies. They include Whitney Wolfe Herd’s Bumble, healthcare apparel company Figs, digital health platform Maven, and Rhianna’s Savage x Fenty, all of which are firmly in unicorn territory with valuations over $1 billion.
About the author
Lydia Dishman is a reporter writing about the intersection of tech, leadership, and innovation. She is a regular contributor to Fast Company and has written for CBS Moneywatch, Fortune, The Guardian, Popular Science, and the New York Times, among others.
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