Two and a half years after starting Prowess Project, we are thrilled to announce that we received an investment from Loyal VC, a venture firm out of Toronto. We’ve achieved A LOT. Ave. 25% MoM revenue growth, 35% MoM Community growth, 70% of our talent secures a job in less than 3 months. These metrics wouldn’t have been possible without Loyal VC’s advice along the way. See below why they are the best fit for us and what we plan on doing with the funds.
Why Loyal VC is the perfect partner
Funding based on what entrepreneurs do, not what they promise – Loyal VC’s model is different than almost all of the other venture firms that I’ve spoken with. They take a funnel approach to sourcing companies by establishing an advisor relationship with the top companies who graduate from the incubator, Founder’s Institute. Prowess Project joined this program in Sept. 2019, where we received $10K in exchange for two years of advising. Each month, we get the opportunity to speak 1:1 with their general partners, Kamal Hassan & Michael Kosic. That means not only have they seen all of the ups and downs of Prowess Project, but how our team handles stress, challenges and success. It’s an honor that they decided to put in additional investment funds because that is a true testament to how this team operates on the day to day. Huge shout out to Texas Founder’s Institute Martin Martinez & Elisa Selpulveda for encouraging us to join Loyal VC’s program, we’re forever grateful!
Global set of hands-on advisors – What I also love about Loyal VC is their handpicked, yet extensive, global network of advisors. I’ve met well over 30 advisors within the Loyal VC network and not only did they provide great advice, but also RESULTS. We did a quick revenue-source exercise and 70% of all of our revenue came from a connection via Loyal VC and/or Founder Institute. I firmly believe that finding the right venture firm is about so much more than the money. Actually, the money is the least important. Loyal VC opened up their rolodex from day one, spent hours with us honing our pitch deck, and have been part of nearly all our critical business decisions. Thank you!
30% of portfolio CEOs are women – That is over 10x the industry standard. Given our mission-first business, it would feel inauthentic to partner with a venture firm that wasn’t hand-in-hand striving for gender parity in business as well. Prowess & Loyal are doing it in different ways, but at the end of the day, we both are dedicated to putting more $ in women’s hands whether that is through jobs or investments.
What the funds will go toward
Growth! We have spend the first two and a half years on developing our proprietary training, technology and employer demand engine. Now, and especially now, with 5,4M women pushed out of the workforce due to COVID-19, is time that we shift our focus to getting the word out to more women who are looking for flexible, empowering roles. To do this, we are streamlining the experience for the talent, we’ve brought on a Community Manager and are laser-focused on partnerships and up-leveling our existing ambassador program. If you know of any women who are unsure about their next career step, please send her our way.
In the next few months, we’ll continue to share our vision of where Prowess Project is headed. We have BIG plans to make BIG impact for women (and men) in the workforce. Our goal is for all professionals to feel comfortable bringing their entire being to work, and Loyal VC is our go-to partner to get there.