The Secret, The Significant, The Successful: Profiles of Women-led Businesses Vol 26

You're reading this newsletter right now because you have a passion for inclusion in business. You care about the humanness and persistence that it takes to achieve success. Each of the company founders in the #AllRiseFactory has amazing stories of achievement and growth. Because the cohort members have such incredible stories that prove that that are not just amazing business owners, but amazing people who have combined perseverance, creativity, and talent to get where they are, I wanted to take some time to share a few of those stories with you.

If you're ready to join the EnrichHER movement, sign up now.

18.21 Bitters

In 2011, fresh out of law school and newly married, Missy was diagnosed with a rare and aggressive form of cancer. After a successful battle with cancer, Missy returned to the practice of law but was no longer satisfied with pursuing a career that she wasn’t truly passionate about. She and her wife Kristin, who has a creative and culinary background, joined together to create 18.21 Bitters after the 2014 Snowpocalypse gave them free time to experiment in the kitchen. By November, they decided to launch a Kickstarter campaign to see how craft cocktail aficionados reacted to their unusual bitters flavors, such as Japanese Chili & Lime and Earl Grey. The campaign earned $9,225, which was 23 percent more than their $7,500 goal. You might say that things snowballed from there. Within 4 months of the Kickstarter success, they left their jobs to focus on 18.21 full time. Fast forward 6 years and they have created a business that is available across the country and achieves seven figure yearly revenue. The co-founders plan to use their EnrichHER investment and Community Capital to scale production and distribution. They have a lot of pent-up interest from potential customers, but no way to deliver that much product. With additional capital, they will be able to meet both the current demand for their products, plus expand their production and distribution significantly. They estimate that they would increase revenue by 150% in the first year alone. Their pre-pandemic projections showed $1.1M in 2020 revenue, with a loss of $8K, and $16.8M in 2021 revenue, with a profit of $2.7M.

Femly

Some people go through their entire lives without disrupting the status quo, and then there’s Arion Long, who started college at 15, decoded the genetic makeup of anthrax by 17, and disrupted a multibillion-dollar industry by age 30. Long is the self-proclaimed Chief Estrogen Officer at Femly, a high-tech personal care company that she started after being diagnosed with a cervical tumor linked to additives in popular, feminine care products. In the wake of her diagnosis, Long became motivated to help other women avoid the circumstances that precipitated her health crisis and to give them access to information, resources, and products that would improve their health. “I was motivated to start Femly when I couldn’t find a simple, one-stop solution to many of the issues that I faced,” says Long. “I want to empower people to take charge of their wellness. I’m excited about the ability to change lives!” Femly manufactures and delivers sustainable personal care products and provides tech-enabled solutions to women’s health issues. Their signature product is the reusable Femly Cup, which is BPA and dioxin-free and constructed from 100% medical grade silicone. Unlike most menstruation products, which can take up to 120 years to biodegrade, Femly’s line of organic pads and liners is eco friendly and chemical free. Long is enthusiastic about All Rise Factory’s fundraising model and understands the benefits of being part of a cohort. “I’m excited because EnrichHER provides access to the capital, resources, and connections that I need to scale. Very few organizations back their words by actionable steps, and the EnrichHER network is unmatched for founders of color like myself!”

Freeman Capital

After buying his first house at 20 and even exiting his first startup, Calvin Williams thought he was doing everything right--until he tried to speak with a Wealth Manager. The manager said that because Williams couldn’t deposit $1,000,000 in an account, he did not “qualify for his service.” In essence, his wealth didn’t matter.

Williams knew this wasn’t right and realized that that is partly why the wealth gap is increasing. We don’t have the access, education, and tools to build wealth like the wealthy.

Freeman Capital helps customers close the wealth gap by providing wealth management for the price of a Netflix subscription. It provides financial planning, investment management, and insurance at scale. Research shows that people with a financial plan have double the wealth of those without a plan. Freeman serves customers who are first-time investors and first-generation investors.

Freeman offers a suite of wealth management services at a low monthly cost. Customers receive access to Certified Financial Planners, investment management, insurance advice, and Freeman’s financial education content for less than $1 per day. An astounding 83% of Freeman Capital’s active users have experienced an increase in net worth since joining the platform.

If you would like to support the next chapter in these amazing stories, and those of the rest of the All Rise Factory cohort, attend our Demo Day presentation Monday, Sept. 7, 4:30 -6 pm Eastern by clicking the link above.

How to Pledge your Capital Now?

Follow 3 easy steps to begin funding New Majority Companies through EnrichHER.com

Step 1: Create your free account to browse All Rise Factory companies.

Step 2: After you’ve logged into your free account, click the Upgrade button to purchase an annual membership plan.

Step 3: Once you have purchased a plan, pledge your capital to support #AllRiseFactory.

About the Author

Dr. Roshawnna Novellus is the founder and CEO of EnrichHER, a financial platform that connects female entrepreneurs with lenders who want to earn a return on their investment while fueling the growth of women-led businesses. Dr. Novellus is a gender equality advocate who believes in economic empowerment and inclusive economic growth. Dr. Novellus holds a Ph.D. in Systems Engineering, with a Minor in Finance, a Masters of Science in Information Technology emphasizing Information System Engineering, a Bachelor of Arts in Business Management Economics, and a Bachelor of Science in Computer Engineering – achieving Summa Cum Laude in each. Roshawnna served on the Commission on Women for the City of Atlanta and was honored as one of the Women Who Means Business by the Atlanta Business Chronicle, one of the 40 Under 40 by Georgia Trend, one of the Top 25 Disruptors and Innovators in Tech, one of the 27 Black Founders and Investors to watch by PitchBook, and LinkedIn Top Voice #5 in Technology.