US-based women-focused work and social space provider The Wing raised $75m on Wednesday in a series C round that included accommodation rental platform Airbnb and workspace operator WeWork.
Sequoia Capital led the round, which included fellow venture capital firms Upfront Ventures and New Enterprise Associates (NEA), as well as a number of individual investors such as actress Kerry Washington and professional footballers including Alex Morgan and Megan Rapinoe.
Founded in 2016, The Wing runs five co-working spaces across New York, Washington DC and San Francisco. It currently has more than 6,000 members and plans to open new sites in Los Angeles, Chicago and Boston as well as London in the UK, Toronto in Canada and Paris in France.
Jess Lee, a partner at Sequoia, and Upfront partner Kara Nortman will join the company’s board of directors in conjunction with the round, which increased the total raised by The Wing to approximately $118m.
Audrey Gelman, co-founder and chief executive of The Wing, said: “This investment will enable us to further The Wing’s mission and scale to new heights both offline and online.”
WeWork led The Wing’s $32m series B round in November 2017, investing together with Kleiner Perkins Caufield & Byers (KPCB), Girl Ventures and NEA.
NEA had led an $8m series A round for the company seven months earlier that included BBG Ventures, a corporate venturing subsidiary of telecommunications firm Verizon that focuses on female-founded companies, in addition to KPCB, Julie Rice and Elizabeth Cutler.
The Wing launched in 2016 with $2.4m in seed financing from BBG Ventures, Rice, Cutler and fellow angel investors Hayley Barna, Harvey Spevak and Steve Case.