by Brianna Crandall — March 23, 2018 — The Riveter, a company focused on creating spaces online and in the physical world for entrepreneurs, remote workers, and freelancers, just announced the first round of institutional capital with a $4.75 million raise led by Madrona Venture Group. The innovative concept behind the company includes aspects of workspace layout and amenities that facilities managers (FMs) could incorporate to benefit all types of workers.
With two membership-driven workspaces in Seattle that serve as both work and gathering places, The Riveter has quickly established a profile as a fresh take on the co-working trend. Recognizing that traditional workspaces and amenities offered can tend to be geared toward male workers, The Riveter focuses on giving everyone in business, particularly female workers, the tools and space to succeed.
Taking the collaboration created by physical proximity one step further, The Riveter is also developing a digital collaboration and networking platform for members.
Founded just ten months ago, The Riveter will be using the funding to expand locations to Los Angeles and more cities across the country in the coming year. The company partners with national leaders in business, sports, politics, and journalism to bring their unique formula to unlock the economic power of all workers.
The Riveter spaces leave such amenities as keggers and foosball tables behind and embrace innovative spaces that are conducive to work, client meetings and networking gatherings. Guided by a “fierce conviction” that people are strongest when they take care of their minds and bodies, the co-working facilities integrate wellness and self-care, with rooms set aside for offerings such as meditation, yoga and strength training on site.
The weekly programming at The Riveter is focused on both the nuts and bolts of running a business — paying taxes, scaling a business, branding, pitching investors — as well as inspiring networking gatherings featuring nationally recognized business leaders. Additionally, members enjoy monthly meetings to share strategies, find resources, and leverage a network to shape their careers and businesses.
After a successful pop-up in Los Angeles in February, The Riveter has its sights set on two new locations in the LA metro area for the next step.
Founder and CEO Amy Nelson remarked:
We have been overwhelmed by the response to our first two locations and are moving quickly to expand both our digital and physical footprint with this funding. We are excited to work with Hope and the team at Madrona in building female-forward workspaces. Hope embodies our core audience, successful women who don’t take no for an answer and pursue success while also mentoring other women business owners.
Hope Cochran, venture partner, Madrona Venture Group, commented:
Amy is mission driven with an uncanny ability to drive business change, inspire those around her to live their dreams and build spaces that welcome everyone, but are especially tailored to the needs of women. Women start businesses at a rate five times faster than men, and it’s about time there are spaces for them to meet each other, meet clients and get work done. We are excited about the opportunity space in front of this talented entrepreneur and her team.
The Riveter co-working workspace and platform welcomes men, but is particularly designed for women and their advocates and allies. More than a desk and amenities, The Riveter is where community gathers, and access to business resources, professional networks, and wellness amenities help members invite ambition and succeed in business.
