London based women-aimed membership club AllBright has bagged $18.8 million fresh funding led by privately held real estate firm Cain International. The round saw participation from Allan Leighton, Gail Mandel, Stephanie Daily Smith, and Darren Throop. Prior to this round, the company had raised $4.2 million Series A financing in March last year. The current infusion takes the valuation of the firm over $100 million.
Launched in 2016 by Anna Jones and Debbie Wosskow, AllBright is women-only networking club. The club has two spaces in London where members pay £1,110 per year membership fees to be part of the club. The members can then utilize the space to work, host and attend networking events or panels. The membership fees also offer the members a spot on AllBright’s annual 10-week digital course for supporting women in the workplace.
The freshly raised funds are going towards the launch of their new spaces in the U.S. Los Angeles, New York, and Washington are the three locations where the company is opening the space. The firm currently counts actors, members of the House of Lords, politicians, people from business and entertainment segment.
Debbie Wosskow OBE, the co-founder of the firm commenting on the freshly raised capital and the utilization of the same said, “We are hugely excited about the global expansion of AllBright, to the US and beyond. Since launching AllBright, we have grown rapidly into a destination brand for women from all sectors. AllBright has galvanized a strong and dynamic community of like-minded women and we are excited about growing this community globally as we continue to develop the business.”
Cain International CEO Jonathan Goldstein talking about the infusion said that they believe in AllBright. “Since Cain International’s initial investment in 2017, we have supported the execution of the business’s long-term growth strategy and watched with pride as it has created a supportive space for working women to achieve their goals and given them with the tools to do so. Our US footprint positions us perfectly to help Anna and Debbie realize their vision of growing AllBright and its digital network on a global scale," he added.
It will be interesting to see if the firm can replicate its UK success in the U.S.
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