 "Sheroes raises series A funding led by Lumis Partners")
Sheroes, a 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.
Sheroes had earlier raised an angel round from Raghav Bahl led Quintillion Media, 500 Start-ups and a group of individuals including Vijay Shekhar Sharma, Rajan Anandan, Binny Bansal, Mekin Maheshwari, Girish Mathrubhootham, Indus Khaitan and Krishna Mehra.
Talking about the latest round of funding, Sairee Chahal Founder of Sheroes, says, “Sheroes is uniquely placed to solve a hard problem and has invested in building the entire ecosystem supporting women and their aspirations. With a large mission, a fast growing organisation 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.”
Highlighting 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. The Sheroes team has demonstrated great results in very short period of time and we are looking forward to accelerating the same.”
Raghav Bahl, founder Quintillion Media added, “Sheroes has a committed team and has shown great traction. It is an innovative business model and high impact makes it a compelling startup. We are proud and happy to help in building Sheroes into a formidable organisation.”
Utkarsh Joshi, ceo of The HR Fund said, “Gender diversity is a pressing issue for India Inc and Sheroes is helping creating the right kind of linkages between women workforce and organisations. Sheroes is The HR Fund’s fifth investment and is a perfect fit for our portfolio. We are very excited to be a playing a significant role in shaping up this reality.”
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.
With a low women in workforce ratio and a over a 300 million women ready to connect to opportunities and financial independence, Sheroes has built an organisation with women’s careers and aspirations at the center.