On today’s Business Beat, Jeff cheers the fact that women-led or founded startups reaching unicorn status quadrupled in 2021. But more work needs to be done, he says.
Tune in to the Business Beat to find out some of the female-founded unicorns:
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Good morning, Paul!
Good news to report on the Business Beat this morning. Female-founded unicorns, that is startups with a valuation of a billion dollars or more, is on the rise significantly. According to Fortune magazine, the number of female-founded unicorns quadrupled in 2021 as 83 new women-led and -founded startups made it to unicorn status worldwide.
Now, while this is good news, there is still much progress to be made. The total of women-founded unicorns is still only 15% of this year’s 595 new unicorns overall. On the list: Bumble, Rent the Runway, 23andMe and Nextdoor to mention a few.
Female Founders Fund founding partner Anu Duggal says the cash influx into women-led companies last year and their successful exits speaks not only to the uptick and capital routed to female founders, but also to the potential that lies ahead. “Powerful trickle-down effect is going to disrupt the entire VC ecosystem,” she tells Fortune magazine. “This is just the beginning. In many ways, we haven’t even scratched the surface yet.”
Paul, we’re seeing more venture funding poured into female-led companies. And this is creating opportunity like never before and fueling growth to record levels of billion-dollar-plus status for these female -led companies. Good news to see that diversity amongst founders and startup leaders continues to make good progress.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.