PowerToFly, a US-based online marketplace that matches women with jobs, has raised $6.5m in a series A round backed by media group Hearst Communications, the Wall Street Journal has reported.
Hearst, which took part in the round through its early-stage investment arm, Hearst Ventures, was joined by venture capital firm Crosslink Capital, which led the round, and Lerer Hippeau Ventures, the VC firm that led PowerToFly’s $1m seed round in July 2014.
PowerToFly runs an online marketplace where firms can post job vacancies and women can post their availability, and the company is paid when one of its users is hired.
The startup services a range of industries including writing, sales, marketing and public relations but around 75% of its business comes from the technology sector. In addition to its status as an investor, Hearst is also one of PowerToFly’s clients.