AllBright has acquired Chicago-based EvolveHer, a digital hub that helps advance women professionally and personally. No financial terms were disclosed. AllBright is backed by Cain International.
CHICAGO (PRWEB) MARCH 19, 2021
Today, AllBright, the network for women and careers, announced 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.
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 engaged community of women across the country. This will help AllBright build its existing network, which launched with the opening of its bricks and mortar club in LA in 2019. ‘Evolve Her’ Founder and CEO Alicia Driskill will oversee AllBright’s US growth from Chicago.
Driskill launched EvolveHer in 2018 after pivoting from a two-decade career in entertainment and media that included positions at multiple Fortune 100 companies. In three and a half years, Driskill and the EvolveHer team hosted more than 750 events and were able to seamlessly adapt and grow the business to continue connecting and inspiring women during the pandemic.
The move underpins the company’s global growth strategy following three successful investment rounds led by private investment firm Cain International, raising a total of $42 million. AllBright also recently announced the acquisition of Australian female lifestyle platform, The Grace Tales, and soon to be announced expansions into India and Canada. 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’s1, 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-pivot2, with one in three planning to set up their own business2, demonstrating 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.”
EvolveHer founder and CEO Alicia Driskill, said, “I am thrilled that EvolveHer is joining forces with AllBright where we can help build a worldwide movement led by women and for women to lift them up through accessing opportunities that support their work and career ambitions and, ultimately, drive equity, inclusion and empowerment wherever they live.
No one has been hit harder during this pandemic than women, which is why this work is more important than ever before. We must unite to open doors for each other, to be seen and heard, provide platforms where we can thrive, and support one another‘s businesses and visions to ensure we don’t lose decades of progress made before this pandemic hit that, for many of us, has so easily been stripped away.
That’s why this is such an auspicious opportunity with AllBright. There is nothing but opportunity that lies ahead for women in the work they will be leading, and I am excited to be part of a platform that can amplify the voices of working women and drive visibility to female owned businesses here in Chicago and across the US.”
CEO of Cain International, Jonathan Goldstein, said “Since Cain International’s initial investment in 2017, we have watched with pride as Debbie and Anna have built both physical and digital environments to inspire working women to achieve their goals and provide them with the tools to do so. We are thrilled to be backing the next phase of growth for this brilliant business and look forward to supporting the execution of AllBright’s vision as it expands its global reach.”
1 UN Women – From insights to action: Gender equality in the wake of COVID-19 (2020) 2 AllBright survey (2020)
AllBright is the leading global careers network for women and was founded in 2017 by Debbie Wosskow OBE and Anna Jones. AllBright opened its first Club in London in March 2018, swiftly followed by the launch of the second Mayfair Club and a Club in West Hollywood, Los Angeles in 2019. All Clubs provide elegant, safe spaces for smart, like-minded women to connect, collaborate and create. Alongside the physical Clubs, AllBright Digital launched in 2020, offering a global community of women access to online training, daily digital events, exclusive content and networking opportunities; providing women across the world the tools they need to achieve their goals, build their confidence and thrive. Visit http://www.allbrightcollective.com.
EvolveHer is a centralised digital hub that curates best-in-class resources, tools and events to help advance women professionally and personally. EvolveHer opened her doors in January 2018 of as Chicago’s first event and workspace designed for women. Over the past two years EvolveHer has hosted 750+ events, connected over 70,000 women and worked with top thought-leaders, corporations, disruptors and change-makers. Further information is available at https://www.evolveher.community/en
About Cain International
Cain International is a privately held real estate investment firm operating in Europe and the United States. Since 2014, the company has invested over $6.3 billion into real estate debt and equity. Cain International also invests in lifestyle & leisure businesses that deliver experiences, services and amenities for modern consumers. Cain International is a partnership between its CEO, Jonathan Goldstein and Eldridge Industries. Cain International Advisers Limited, the firm’s asset management and investment advisory division, is an SEC-registered investment adviser. Further information is available at http://www.cainint.com.