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The Riveter, female-forward coworking operator, raises $20.5 million in funding

Once Amy Nelson passed up a job promotion post-maternity leave, she decided to become her own boss. In 2017 she launched The Riveter, a female-centric coworking space, with co-founder Kim Peltola.

Now, the company manages five offices and recently raised $20.5 million in funding. Nelson revealed plans to continue their expansion with eight more locations in 2019 and ultimately a goal of 100 by 2022.

Female-forward coworking makes sense; State of Women-Owned Businesses Report stated that between 2017 and 2018, women started an average of 1,821 new businesses a day.

Coworking in general has seen a huge expansion in the past few years, with coworking giant WeWork valued at $35 billion. Smaller startups, have also received big funding. Women-only coworking operator just recently The Wing raised $42 million in venture capital funding.

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Despite The Riveter being women-centric, it is still a co-ed space for everyone.

“I think there’s a ton of magic to women’s only spaces,” says Nelson, “but for us, we’re focused on women and work and changing what that paradigm is, and a lot of women work with other genders.”

25% of The Riveter’s members do not identify as female and the office interior reflects that. Members can enjoy meditation spaces, as well as freebies like tampons and skincare products. Other membership perks include events and the opportunity for part-time work. It also provides discounts at local yoga studios and has a wellness program for clients.

The Riveter has an open-office design with plenty of hot desks and 30% of the space are private offices.

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