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3 female founders who have raised millions open up about the challenges of raising capital and building a business when you're not a white male

Jan 20, 2020, 20:10 IST
andresr/Getty ImagesWomen received a fractional share of capital - only 2.2% of the VC funding pie - in 2018.
  • When it comes to representation in the tech space, woman have been persistently in the minority - these three female founders shared their advice for others trying to break through the glass ceiling.
  • Payak Kadakia, the founder of ClassPass, said that learning the difference between "no" and "not right now" has been an essential lesson that's paved the way to her success.
  • Charlie Javice, the founder of Frank, encouraged founders not to waste their time with people and events that won't actually move them forward.
  • Ruzwana Bashirt of Peek.com said that VCs should look beyond the resume to find strengths diverse founders bring to the table.
  • Click here for more BI Prime stories.

That women have been maligned when it comes to opportunities for advancement in the workplace is an old, nagging story - as is the fact that, when it comes to representation on the tech scene, they've been persistently in the minority. Reports from Q1 of 2019 revealed that women still received a fractional share of capital the year before - only 2.2% of the VC funding pie in 2018, reported Fortune - and, within venture firms, a mere 9% of general partners are women, a gap that contributes to funding inequality, according to research out of Columbia University.

The good news: Parity is improving. Last year, PitchBook data showed that women-founded startups were trending upward. First financings - new companies entering the venture-backed tier - have grown from 7% in 2005 to 21% in 2017. According to a PitchBook and All Raise report released last fall, female founders raised $46.3 billion in 2018: a new record and a 15-fold increase from 2010.

Business Insider spoke to three female founders about navigating the tech world today and got their tips, insights, and advice for others working for their own business breakthroughs.

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