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#InvestInWomen: Chloe Capital is Hiring, Riff Analytics Fundraising and Diversity In ClimateTech Info Session
As a registered nurse, Janna Westbrook was quick to see the flaws of conventional nurse staffing agencies. With her venture Provider Pool, Janna is revolutionizing the healthcare staffing crisis that has been intensified by the pandemic.
Provider Pool is an on-demand online labor marketplace connecting hospitals to nurses. Janna, CEO and co-founder, has demonstrated an exemplary impact during the pandemic. Her marketplace has helped facilities save hundreds of thousands of lives by improving the staffing crisis which has become more widespread than ever. Provider Pool has a COVID response team that has set aside nurses to solely work in COVID negative facilities. Meanwhile, nurses that are immunocompromised or who have young children are only working in COVID positive facilities. With the pandemic calling upon even those nurses who have left the workforce, Provider Pool has helped offer a better transition back to the healthcare field by providing them with information regarding what is going on in the facility and what other nurses are saying about it.
Janna also says COVID-19 has been a huge catalyst for the business. Her healthcare venture is one of the few companies with over 100% month-on-month growth since the epidemic outbreak. With over 500 nurses active on the platform, Provider Pool is paving its way to becoming the ultimate solution for the healthcare staffing crisis. The total addressable market size is estimated at nearly $18 billion. “Even though healthcare is extremely innovative, there are many processes that are still pretty antiquated–staffing and recruitment is one of those processes,” Janna explains.
Provider Pool is a select online community built by nurses, for nurses. By connecting long-term care facilities with per diem nurses for on-demand staffing needs, it introduces a new way to work for both parties. Facilities using Provider Pool can easily fill shifts with their choice of healthcare professionals. They’re free to set their own rates and choose their own nurses without hassle because Provider Pool vets the nurses and handles invoicing.
Nurses registered with Provider Pool have the flexibility to pick and choose where and when to work. The platform offers a competitive pay rate, and nurses who sign up have access to a community of healthcare professionals. Since the community is nurse-run, nurses on Provider Pool pride themselves on reliability and ensure to register only the best onto the platform.
Janna’s vision for Provider Pool came after a personal struggle with nurse burnout and talent acquisition challenges. “I became an entrepreneur out of sheer frustration. I felt like current options were only patchwork solutions. And I wanted a centralized and streamlined process,” Janna said. “I was at the point where I was willing to walk away from healthcare completely and I wasn’t alone. 400,000 nurses have walked away from healthcare over the years. And it’s not fair to suffer burnout while doing something that you love.”
As a female entrepreneur, Janna hopes Provider Pool will be a source of inspiration for future entrepreneurs. “Representation is definitely important, but I hope to inspire people to move on their ideas or to execute on their ideas,” Janna said. “I built this company out of a passion that I had, went ahead and executed. Hopefully, others will be inspired on the actual company side.”
Despite recent progress, less than 3% of female founders receive venture capital, according to PitchBook. When it comes to Black women tech founders, the resource gap widens. Between 2009 to 2018, tech startups led by Black women raised $289 million. That is only 0.06% of the $425 billion in total tech venture funding raised in that same time period according to Black Women Talk Tech’s research, which is the largest published study about Black women tech founders.
After Janna envisioned an online marketplace for nurses, it only took her just six months to pitch the idea, secure investors, acquire customers and top talents, and generate revenue. In 2019, Janna was one of the Arch Grants recipients. By February 2020, Janna and her co-founder Rodney McGill received investments from both Chloe Capital and ECMC Foundation during Chloe Capital’s #InvestInWomen tour.
Chloe Capital is a seed-stage venture capital firm that invests in women-led, high-growth companies. The firm leads a movement to Invest In Women not only because studies have shown that companies led by women generate more revenue, exit faster and produce greater returns for investors, but also because they believe that creating an inclusive ecosystem in entrepreneurship and venture capital is the responsibility of every community. By investing in women, Chloe Capital provides investors with the opportunity to do well by doing good.
During the “Invest In Women” events in Los Angeles, New Orleans and virtually in 2020, Chloe Capital and ECMC Foundation invested $1.25 million in women-led companies at the forefront of work and education. In addition to Provider Pool, Chloe Capital’s Work & Education investments include Beth Porter of Riff Analytics, Bec Chapin of NODE.eco and Jamee Herbert of BridgeCare.
Receive a Tax Deduction in 2020 by Creating a Donor Advised Fund Before December 31
For Immediate Release
New York (November 24, 2020 ) — No longer is investing in privately-owned companies reserved for the wealthy. Now, anyone, anywhere can harness philanthropic capital to make an investment in Chloe Capital’s impact fund, which is dedicated to investing in women-led companies with diverse leadership teams > ChloeCapital.com/DAF
Chloe Capital will now accept contributions from individuals, families and foundations who create a Donor Advised Fund with ImpactAssets. All investments under this model are considered irrevocable and tax-deductible contributions.
Despite recent progress, the U.S. VC Female Founders Dashboard by Pitchbook still shows that less than 2 percent of venture capital in the U.S. goes to female founders. Further reports reveal that African American female founders receive just .2 percent of U.S. funding.
“The lack of funding to female founders is baffling, especially when study after study shows that women-led companies generate more sales, exit faster and produce greater returns for investors,” said Chloe Capital co-founder and partner Kathryn Cartini. “Chloe Capital’s new approach to investing allows anyone to do well by doing good. No longer is investing in startups reserved for the 1 percent!”
ImpactAssets is a Donor Advised Fund sponsor, and the leading impact investing partner for philanthropists who take on the world’s greatest challenges by investing in the world’s brightest ideas. Custom Investments, available through the ImpactAssets Donor Advised Fund, offer a personalized impact investing experience. Donors can directly invest into Chloe Capital’s impact fund and leave the complexities of handling investment execution, custody, monitoring and servicing issues to ImpactAssets.
“This exciting opportunity provides donors with various benefits including tax advantages, and a way to maximize their charitable contributions. Returns from Chloe Capital can either be reinvested into our impact fund, or recycled for future granting into other charitable causes,” said Elisa Miller-Out, Chloe Capital co-founder and managing partner.
Contributions can be accepted all year-round. To receive a tax deduction in 2020, custom investments must be made prior to December 31. Donors will also be able to track their investment online through ImpactAssets’ Donor Portal.
#InvestInWomen > ChloeCapital.com/Contact
About Chloe Capital_______________
Chloe Capital is a Movement-driven venture capital firm that invests in women-led technology companies with diverse leadership teams. In addition to investing with a gender and diversity lens, Chloe Capital partners with foundations, institutions and corporations to host programs that help catalyze fundraising efforts for female founders. This collaborative approach to early stage investing is what makes the firm so unique. More than 15,000 people around the world have already joined Chloe Capital’s Movement to #InvestInWomen.
Chloe Capital is not affiliated, endorsed by or in any way officially connected to ImpactAssets Inc. A contribution to an ImpactAssets Donor Advised Fund represents an irrevocable contribution to ImpactAssets. Contributions are eligible for a tax-deduction subject to the donor’s individual tax circumstances, are not refundable, become subject to ImpactAssets control and discretion once made, and shall not be deemed a separate trust fund held by ImpactAssets in a trustee capacity. There are a number of factors to consider when assessing the tax implication of gifts to charity. Individuals should consult with a tax specialist before making any charitable donations.