Company Announcements

Bumble, Phyllis Newhouse, and Serena Williams Join Hello Alice as Investors

December 12, 2019
2 min read

We’ve already shared the news of the groundbreaking #MeToo clause that made headlines when we announced our Series A raise in October. Now we’re excited to add a new chapter to the story of Alice’s growth.

Today we announced that Bumble, Phyllis Newhouse, and Serena Ventures, led by Serena Williams, have joined as investors in Alice to ensure every founder, no matter their background, has the opportunity to launch and grow their business. In honor of this announcement, Alice is paying it forward, providing a financial grant and mentorship to one small business owner who applies at [Editor’s note: The application period for this grant has passed. Check back soon for more funding opportunities.]

“Alice helps connect business owners to resources important for their individual industry growth. As part owner in the company, we are working to ensure that all underrepresented groups in business are given equal access to funding, networking and services that are vital to success,” said Serena Williams. Phyllis Newhouse, a U.S. military veteran and founder of Xtreme Solutions and nonprofit Shoulder Up, is also joining the round as a part owner and adviser.

“Alice could not be a better fit for Bumble as we expand on our mission to create empowering connections in people’s work lives as well as their personal relationships,” added Bumble founder and CEO Whitney Wolfe Herd. “At the end of the day, we work to give women the tools they need to make the first move, and investing in Alice’s platform – geared towards uplifting women and other underrepresented small business owners – is a great way for us to continue to get more involved in our local communities and ultimately help create positive change in the broader business community.”

Bumble and Williams join SVB Financial Group, Silicon Valley Bank’s holding company, Pendrell, Jean Case, Cathie Reid, Shatter Fund, and Signia Venture Partners in Alice’s Series A financing round. As part owners of the company, they will continue to expand Alice’s machine learning capabilities. Those provide the most curated business resources to Alice users based on their stage of growth, location, and industry. Alice is aggregating the most comprehensive set of SMB trend analysis and insights in the world, supporting our goal of removing barriers to vital resources for women, people of color, veterans, and LGBTQ+ entrepreneurs face when launching businesses. Not incidentally, these categories represent the backgrounds of our diverse investors.

“Having business leaders like Serena Williams, Phyllis Newhouse, and Whitney Wolfe Herd as part owners in Alice has created a dream team of savvy investors,” said Elizabeth Gore, president and chairwoman of Alice. “We see our partnership as an extension of the work Serena Ventures and Bumble have already done to advance women and New Majority owners in business. We are thrilled to welcome their perspectives and input as we expand our reach into local business communities and bring forward business for all in 2020.”

Welcome Bumble, Phyllis, and Serena Ventures! We couldn’t be happier to have you aboard.

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