SHEROES, the career platform for women has raised a Series A funding led by Lumis Partners along with participation from The HR Fund and angel investor Rajul Garg. Existing investor, Raghav Bahl led Quintillion Media also participated in the round.
The transaction is part of a larger commitment, out of which 12 crores come in immediately. Dexter Capital was the exclusive financial advisor and Vertices Partners was the legal advisors to SHEROES for the Transaction.
The venture plans to utilize this fund to strengthen their investment in technology, resources and growing their footprint.
Speaking on the recent funding Sairee Chahal Founder of SHEROES, said, “SHEROES is uniquely placed to solve hard problems and has invested in building the entire ecosystem supporting women and their aspirations. With a large mission, a fast growing organization and an innovator’s mindset, getting the right kind of investment support is crucial. With this capital raise, we will further strengthen our investment in technology, resources and growing the SHEROES footprint.”
Prior to this, they had earlier raised an angel round from Raghav Bahl led Quintillion Media, 500 Startups and a group of individuals including Vijay Shekhar Sharma, Rajan Anandan, Binny Bansal, Mekin Maheshwari, Girish Mathrubhootham, Indus Khaitan and Krishna Mehra.
On the reasons behind choosing SHEROES, Sandeep Sinha, Co-founder and Managing Partner at Lumis Partners said, “With SHEROES the size of the opportunity as well as the impact it can generate is really exciting. The Lumis advantage in helping build processes and scale can have a multiplier effect.”
With this investment, Sandeep Sinha and Pankaj Bansal will join the board of SHEROES parent – Applied Life Private Limited.
The startup is the careers community of women, with members from over 20,000 locations. Over 12,000 companies actively use the platform. SHEROES runs a career support helpline via phone and app. It also has its communities spread in all major cities across India including major metros, and upcoming cities like Jaipur, Indore and Pune.
“Gender diversity is a pressing issue for India Inc and SHEROES is helping in creating the right kind of linkages between women workforce and organizations,” said Utkarsh Joshi, CEO, The HR Fund.
With the low ratio of women in workforce, over 300 million women ready to connect to opportunities and financial independence, SHEROES has built a unique organization with women’s careers and aspirations at the center.