Ep. 35: Karen Cahn, CEO & Founder, IFundWomen

Thank you to our sponsor, Ai Marketing Guild. The AI Marketers Guild (AIMG) is dedicated to empowering professionals to improve their skills in the rapidly evolving field of AI, specifically as it applies to marketers. We foster a collaborative community, offering targeted professional development and networking opportunities while enabling members to share their knowledge and experience. Use code Worthy at checkout to receive 20% off your membership. Hi Everyone - This community and platform are built on relationships. Thank you to supporter and past guest Jeff Ragovin for introducing me to Karen Cahn, CEO & Founder, IFundWomen. In a world that is progressively becoming more inclusive and diverse, women entrepreneurs still face a significant funding gap. A promising solution to this problem emerged in 2016 with the creation of IFundWomen, a crowdfunding platform founded by Karen Cahn. Since its inception, IFundWomen has been on a mission to empower female entrepreneurs from all walks of life by providing them with the financial support they need to turn their dreams and aspirations into reality. In this blog post, we'll delve into the remarkable journey of Karen Cahn and her brainchild, IFundWomen. The Gender Funding Gap One staggering statistic that underlines the need for platforms like IFundWomen is that only 1.9% of all venture capital (VC) dollars go to female-started or founded companies. To put that in perspective, that's just 1.9% of a whopping $330 billion in VC funding in 2023. These numbers reveal a stark imbalance in the entrepreneurial landscape, and it's a gap that Karen Cahn was determined to close. Karen Cahn's Journey Karen's journey into the world of female entrepreneurship began after she quit her job at AOL. She had all the right ingredients for a successful venture – she was working at Google, based in New York City, and had an impressive network. However, when it came to securing venture capital, Karen found herself facing a disheartening roadblock. Despite her impressive credentials and connections, she couldn't find a single investor willing to fund her business. This experience was a turning point for Karen, as it led her to discover the potential of crowdfunding. She saw that this approach could be a game-changer in bridging the gender funding gap. Determined to make a difference, Karen took a bold step. The Birth of IFundWomen In a true entrepreneurial spirit, Karen Cahn decided to take matters into her own hands. She bought a domain name for $2.99 and began her journey towards creating a crowdfunding platform that could empower women entrepreneurs. Her vision for IFundWomen was clear – a platform that would not just be accessible to a select few but inclusive for all women, regardless of their backgrounds, to fund their startups and chase their dreams. IFundWomen's Impact Since its founding, IFundWomen has made substantial progress in leveling the playing field for female entrepreneurs. Some of its remarkable achievements include raising over $400 million for more than 20,000 startups, which in turn employ over 80,000 people. These numbers reflect the tangible impact that the platform has had on the lives and aspirations of women entrepreneurs. Closing Thoughts Karen Cahn's journey from a frustrated entrepreneur seeking venture capital to the founder of IFundWomen is a testament to the power of determination, innovation, and inclusivity. Her platform continues to be a beacon of hope for female entrepreneurs, offering them the support they need to break free from the constraints of the gender funding gap. As we look to a future that is more diverse, equitable, and inclusive, IFundWomen stands as an inspiring example of how individuals can drive change and provide opportunities for women to thrive in the world of entrepreneurship. In a world where 89% of all net new businesses are started by women each day, it's more important than ever to support and empower these entrepreneurs. IFundWomen is not just a platform; it's a movement, and it's changing the way we think about funding and entrepreneurship for women Links: IFundWomen on Instagram Karen Cahn on Instagram This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit worthyforthirty.substack.com