The Riveter Announces $4.75M in Seed Funding
SEATTLE, WA, The Riveter announced the first round of institutional capital today with a $4.75 million raise led by Madrona Venture Group.
The Riveter, a female-forward company focused on creating spaces online and in the physical world for entrepreneurs, remote workers, and freelancers, announced the first round of institutional capital today with a $4.75 million raise led by Madrona Venture Group.
The Riveter focuses on giving women in business the tools and space to succeed. With two membership-driven workspaces in Seattle which serve as both work and gathering places for female-forward businesses, The Riveter has quickly established a profile as a fresh take on co-working. Taking the collaboration created by physical proximity one step further, The Riveter is also developing a digital collaboration and networking platform for members.
Founded by Amy Nelson just ten months ago, The Riveter will be using the funding to expand locations to Los Angeles and more cities across the country in the coming year. The company partners with national leaders in business, sports, politics, and journalism to bring their unique formula to unlock the economic power of women.
"We have been overwhelmed by the response to our first two locations and are moving quickly to expand both our digital and physical footprint with this funding," said Founder and CEO Amy Nelson. "We are excited to work with Hope and the team at Madrona in building female-forward workspaces. Hope embodies our core audience, successful women who don't take no for an answer and pursue success while also mentoring other women business owners."
"Amy is mission driven with an uncanny ability to drive business change, inspire those around her to live their dreams and build spaces that welcome everyone, but are especially tailored to the needs of women," commented Hope Cochran, venture partner, Madrona Venture Group. "Women start businesses at a rate five times faster than men and it's about time there are spaces for them to meet each other, meet clients and get work done. We are excited about the opportunity space in front of this talented entrepreneur and her team."
The Riveter spaces leave keggers and foosball tables behind and embrace innovative spaces that are conducive to work, client meetings and networking gatherings. The weekly programming at The Riveter is focused on both the nuts and bolts of running a business - paying taxes, scaling a business, branding, pitching investors - as well as inspiring networking gatherings featuring nationally recognized business leaders. Additionally, members enjoy monthly meetings to share strategies, find resources, and leverage a network to shape their careers and businesses.
After a successful pop up in Los Angeles in February, The Riveter has its sights set on two new locations in the LA metro area for the next step. Follow @theriveterco for more info.
About The Riveter
The Riveter is a female-forward workspace and platform designed for women and their advocates. More than a desk and amenities, The Riveter is where community gathers, and access to business resources, professional networks, and wellness amenities help our members invite ambition and succeed in business. The Riveter has two locations in the Seattle area and will expand to more cities in 2018.
About Madrona Venture Group
Madrona has been investing in early-stage technology companies in the Pacific Northwest for more than 20 years and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing. Madrona manages nearly $1.3 billion and was an early investor in companies such as Amazon.com, Apptio, Rover.com, and Redfin.
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