The Muse, a startup founded by three women, raised $10 million from a female-led venture investor syndicate. That is a rare type of deal in today’s venture world, and one to which the industry says it aspires.
Kathryn Minshew, the startup’s chief executive; Alexandra Cavoulacos; and Melissa McCreery, founded The Muse in 2011 to offer job listings and career advice for young people. The Muse is the business name of Daily Muse Inc.
The company, which had single-digit millions of dollars of revenue last year, according to Ms. Minshew, has about 300 companies listing jobs and corporate profiles on its site, as well as more than three million active users monthly.
The New York company now closed its Series A round, led by Aspect Ventures, a firm recently launched by Theresia Gouw and Jennifer Fonstad, with participation by DBL Partners, with Nancy Pfund responsible for the deal, and QED Ventures, with Caribou Honig, the only new male venture investor.
“I call it our ‘girlpower’ deal,” said Ms. Pfund, who’s joining The Muse’s board of directors, along with Ms. Gouw.
The technology industry, still overwhelmingly male both on the startup and investor sides, has been vocal recently in trying to change its makeup. National Venture Capital Association, for example, created a task force to increase diversity in the industry.
For The Muse diversity is central to its business in another way. The company says that 65% of its users are women, compared with 45% for LinkedIn, and more than 50% are nonwhite, while on LinkedIn about 33% are nonwhite, according to The Muse.
The Muse says it stands apart from competition by focusing on young people, ages 22 to 39, because this generation, called millennials, approaches work in a different way.
For the full article about The Muse’s funding round visit VentureWire.