Women’s only members’ club AllBright is now worth £100 million as it prepares for global expansion

The future’s bright for AllBright
Allbright
Amelia Heathman15 July 2019

The women’s only members club AllBright has raised £13 million in funding, giving the collective new a valuation of £100 million as it gets set to move stateside.

Started in 2017 by serial entrepreneur Debbie Wosskow and former CEO of Hearst Anna Jones, there are now two AllBright spaces in London, one in Rathbone Street and a second in Maddox Street, whilst the duo is opening the first AllBright US in West Hollywood this summer.

The collective was founded to champion women and the clubhouses include space to work, networking events and panels as well as gyms and roof terraces. Membership fees are £1150 a year, and includes a place on the AllBright Academy’s 10-week digital course for supporting women in the workplace. Actors Naomie Harris and Olivia Wilde, as well as entrepreneur Martha Lane-Fox, are counting as amongst the network’s founding members.

The new funding round, which bring AllBright’s total fundraising to £25 million, was led by Cain International as well as angel investors including Stephanie Daily Smith, a former deputy national finance director to Hillary Clinton, and Darren Throop, the founder and CEO of Entertainment One.

The funds will be used to propel the company globally, and serves as a chance for Wosskow and Jones to invest further in its all-female network, which funds women-led start-ups as well as encourages women to invest too. As only 20 per cent of the UK's venture capitalists are women, anything being done to improve the female stamp on the investment scene is a welcome initiative.

Speaking about the announcement, Wosskow said: “We are hugely excited about the global expansion of AllBright, to the US and beyond. Since launching AllBright, we have grown rapidly into a destination brand for women from all sectors.

“AllBright has galvanised a strong and dynamic community of like-minded women and we are excited about growing this community globally as we continue to develop the business.”

The AllBright LA outpost in West Hollywood is opening soon (AllBright)
Allbright

Female-only spaces are a fast-growing niche. Over in the US, there’s The Wing, started by Audrey Gelman and Lauren Kassan. It functions in a similar way to AllBright except it leans heavier on the co-working side than the members’ only mantra.

With six offices across the US, and with the likes of Lena Dunham and Glossier founder Emily Weiss as its members, the company is set to open a London office this year. Applications are open now.