Today, AllBright, the network for women and careers, announces the acquisition of Chicago-based digital hub ‘EvolveHer’, in an asset-based deal, as it continues to expand its US footprint as part of an ambitious global expansion plan.
Following the recent acquisition of Australian female lifestyle platform, The Grace Tales, and a soon to be announced expansion into India, the move underpins the companies’ global growth strategy following three successful investment rounds led by private investment firm Cain International, raising a total of $42million.
The EvolveHer deal marks a significant gear change in AllBright’s ongoing mission to become the leading global career network for women, increasing its digital presence in the US by connecting with EvolveHer’s incredibly engaged community of women across the country. This will help to build on the brand’s existing network, which launched with the opening of its bricks and mortar club in LA in 2019.
With further growth plans set to be announced imminently in both India, Canada and further afield; this rapid scale-up strategy is part of the business’ push to promote female resilience at a global scale, with a recent UN Women report suggesting the impact of the pandemic puts women’s progress back by a generation.
Recent reports show there’s never been a more needed time to connect like-minded women, with female employment 19% more at risk than men’s, and 40% of all employed women working in sectors most affected by the pandemic1. Despite these results, recent reports from AllBright highlight that 61% of its members are planning a complete career-pivot, with 1 in 3 planning to set up their own business, nodding toward a renewed sense of optimism within its community.
AllBright was co-founded in 2018 by Debbie Wosskow OBE, former CEO of Love Home Swap (sold to Wyndham Destination Networks for $53m in 2017) and Anna Jones, former CEO of Hearst UK, with clubs for women based in both London and Los Angeles.
Commenting on the acquisition and AllBright’s response to the pandemic, AllBright co-founder Debbie Wosskow said: “The last year highlighted the ongoing challenges women continue to face but also how the crisis has acted as a catalyst for positive change. Our global expansion plans, which include the acquisition of EvolveHer, allow us to further invest in our US network to promote our mission of female resilience, and upskill and support our community at scale. Alicia is a first class leader and her vision of women coming together to build their networks and opportunities is very much aligned with ours”.