Chief raises $100 million using Chief.com
Chief, a network for professional women that uses the great domain chief.com, has raised another $100 million.
In the last two decades, there has rightly been a conscious effort to promote more women to positions of power. According to Statista, the number of female CEOs at Fortune 500 companies has grown from 7 in 2002 to 74 in 2022.
While women are still underrepresented, with just 15% of Fortune 500 companies being female-led, the number is moving in the right direction. One company is giving a helping hand to the expanding list of female executives.
Chief is a private membership network set up to help connect and support women in leadership positions. Founded in 2019, the company accepts membership applications from women at the executive level with 15 or more years of experience.
Once in the club, Chief members get access to a network of other women in leadership positions as well as workshops and resources to aid professional development.
The company has built a staggering who’s who of members, with Chief’s 10,000+ members reportedly managing $220 billion of the US economy.
Chief’s network, plus its 40,000-strong waiting list, is hosted on the Chief.com domain name, which the company smartly acquired just months after launching.
According to DomainInvesting.com, Chief bought its exact-match .com in mid-2019, coinciding with a $22 million Series A funding round.
The domain, a direct upgrade from Chief’s original JoinChief.com, was acquired from Branded Holding Group LLC’s sought-after portfolio that currently includes domains such as Lease.com, Ultra.com, and Final.com, to name just a few.
Chief’s deal to acquire Chief.com in 2019 was aptly facilitated by two of the domain industry’s leading female brokers, Tessa Holcomb and Amanda Waltz. While the purchase price and terms haven’t been disclosed, it’s safe to say that it would have been a significant outlay for a young company, but one that has certainly paid off.
In addition to reaching its milestone of 10,000 members, Chief has secured $140 million in funding, including a $100 million Series B round that closed in March 2022. The Series B funding has pushed Chief’s valuation to $1.1 billion, establishing the company as a leading supporter of women in business.
Owning Chief.com early on has allowed Chief to build its planned network while signaling to its potential members that it is serious about helping with their professional development in the long term.
The power of the Chief.com domain has likely accelerated the growth of this elite network.
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