The Riveter, a women-focused coworking space, raised a $15m Series A to expand beyond the US West Coast — one of several coworking spaces attempting to differentiate themselves from WeWork with programming tailored specifically to women.
Founder Amy Nelson launched The Riveter in 2016 as a workspace to empower all people, particularly women and people marginalized in traditional business settings (25% of members aren’t women).
Since then, The Riveter has grown to 5 locations in the Seattle and Los Angeles metro areas that accommodate more than 2k members. The Riveter plans to open 8 new locations in 2019 and 100 locations by 2022.
“I don’t think the future is female, I think the future is fluid,” Nelson explains. “Gender is becoming an outdated idea, but at the same time, it’s important to think of women when we build these spaces.”
The Riveter is not the only coworking space thinking of women: Competitors Hera Hub, Quilt, and The Wing (which has raised $42.5m) also offer female-focused networking support, workshops, and amenities.
As WeWork (which is valued at $35B) continues to expand, competitors need to double down on their advantages (feminine and otherwise) to stay competitive.