Is the face of venture capital investment changing?
A recent Deseret News article by Art Raymond highlighted Fullcast’s dedication to shifting venture capital gender imbalance with female investors who are pioneering change in Utah. Fullcast’s acquisition and subsequent financial support of 30 women during the $34 million funding round is proof.
For an industry that famously favors men, that’s news.
“In a space traditionally dominated by men, it’s invigorating to see a diverse group of investors rallying behind Fullcast,” said Amy Cook, Fullcast’s chief marketing officer and an investor. “Our journey is not just about revolutionizing RevOps (revenue operations); it’s about creating a space where diverse voices thrive.”
In 2022, a report found that the funding acceptance rate for women-owned businesses rose to 41%, slightly higher than the 37% for businesses owned by men. However, a Harvard Business Review study found that companies founded solely by women account for less than 3% of all venture capital investments. Moreover, only 15% of those investors are women.
These statistics make Fullcast’s collectively diverse investment round extraordinary.
“Bringing in different viewpoints—different ways of seeing the world is critical and an approach that leads to best outcomes. We need men’s and women’s voices in the world,” said Whitney Johnson, CEO of Disruption Advisors and an investor. “You need to fund the world that you want, invest in the world that you want. I want to invest in entrepreneurs that I know and like, including men and women.”
While Fullcast CEO Ryan Westwood is getting well-deserved attention for his diverse financial support, leveraging the talents and resources of women in leadership has been an essential part of his regionally and nationally recognized management models. For instance, under his leadership, Simplus was recognized as one of the top 50 “Best CEOs for Women” in 2021 by Comparably.
“If you look back over the past several decades, women have been underrepresented on corporate boards and C-suite positions,” said Fullcast investor Trisha Price, chief product officer at Pendo.
But women in this growing business community can start the momentum for entrepreneurship, getting by with a little help from their friends.
“In terms of why did we attract so many women, part of the reason is I’m a co-founder and have great friends that want to support me,” Cook said. “When you empower other women, we bring our community along with us.”
When the financial strength of women in business gets more attention and support, we all win.
Read the Deseret News article here.
About Fullcast
Fullcast was built for RevOps leaders by RevOps leaders to bring together all of the moving pieces of our clients’ sales go-to-market strategies and automate their execution. We seamlessly connect go-to-market planning activities with tactical sales execution, enabling your operations, sales, finance, and customer success teams to make continuous adjustments in response to real-time strategy changes. From territory management to performance tracking, we operate with speed, agility, and AI-powered automation.
