Hello Alice raises $21 million
Hello Alice, “the machine learning platform connecting small business owners to capital, networks and business services,” announced a $21 million Series B round led by QED Investors with participation from new investors including Backstage Capital, Green Book Ventures, Harbert Growth Partners, and How Women Invest.
The Texas-based startup offers a free online platform that helps businesses launch and grow. It guides owners through every step of their entrepreneurial journey by providing knowledge, funding, networks, and peer-to-peer connections.
In the past 18 months, Hello Alice has achieved over 1,100% growth and now serves nearly 500,000 small business owners weekly, while increasing revenues by over 600% through their SaaS offering. With this raise, Hello Alice continues to lead as the primary platform to access capital for SMBs, while ensuring that those traditionally left out of growth capital are now fully included and nurtured towards successful capitalization.
“Small business owners are the backbone of the U.S. economy, but many fail before they’ve had an opportunity to meaningfully serve the community in which they’re based. Access to both capital and business expertise remain the biggest obstacles for SMBs, challenges heightened for women- and minority-owned businesses. Traditionally, corporations and government grants want to engage and support, but there hasn’t been a source of truth on who can qualify for their diversity grants, funds and programs. Hello Alice solves this problem, building tools that empower the new majority and enabling corporations and governments to support SMBs. Founders Carolyn and Elizabeth and the entire Hello Alice team are having a real, tangible impact on the ecosystem. We are incredibly excited to help them help others.” – Frank Rotman, QED Investors Founding Partner.
“Green Book Ventures is strategically partnering with Elizabeth and Carolyn as they continue growing Hello Alice into an essential platform for small businesses. Their deep commitment and unique focus on ‘New Majority’ entrepreneurs has opened doors and provided resources for thousands of underserved companies. Hello Alice aligns perfectly with our mission of funding companies that can accelerate the growth of Black-owned businesses and thereby helping to close the wealth gap.” – Lawrence Bancroft, managing member of Green Book Ventures.
“The Hello Alice team is tackling one of the biggest risks, and at the same time, the biggest opportunities for economic growth in the US, and that is making entrepreneurship accessible to all,” said John China, President, SVB Capital. “There is enormous possibility available to people with the right access to information, connections and capital, which Hello Alice is making available for all small businesses. That’s a big deal.”
Bottom Line: Partner with Hello Alice here.
