Chief, the private network for women leaders, has raised $15 million in a new round of funding from existing investors to expand into new cities.

WHO: Chief was founded by Carolyn Childers and Lindsay Kaplan, who saw an opportunity to bring community, mentorship, and guidance to women business leaders. Childers was SVP of Operations at Handy and led the launch of Soap.com, serving as GM there through its acquisition by Amazon. Kaplan was on the founding team of Casper, serving as VP of Communications and Brand, before leaving to co-found Chief. The profile of a Chief member is 43 years old, managing over $10 billion in collective budget at their organizations, and more than 100,000 employees.

WHY: Chief wanted to raise the new round for the next phase of the company beyond the expansion in LA and Chicago.

IN THEIR OWN WORDS: “We all know it gets lonely at the top, and it gets a lot lonelier a lot earlier for women,” Childers told TechCrunch. “Women are on panels or on the circuit and they’re exhausted. This is a community they don’t have to be the one in the spotlight and feel all the pressure, but can actually be supported in a network of women who feel the exact same way. These women are the only person or one of the few people in their organization who have hit that level of leadership, and really need support from people who get it.”

DETAILS:

• Chief raised $15 million in funding from its existing investors, including General Catalyst, Inspired Capital, GGV Capital, Primary Venture Partners, Flybridge Capital, and BoxGroup.
• TechCrunch projects the company will likely generate more than $10 million in revenue in 2020.
• The network currently has more than 2,000 members with more than 8,000 people on the waitlist.
• Membership costs $7,900 per year for women who are at the C-suite level, and $5,800 for women who are at the VP level.
• Chief is currently operating in New York, with plans to roll out in Los Angeles and Chicago later this summer.
• The company has raised $40 million to date according to Crunchbase.

Photo: via Chief