Women in Tech Score Symbolic Wins, but Cash Is Still Hard to Come By
EzCater, run by a woman, just raised $100 million—but it’s more an exception than the rule.
Photographer: Simon Dawson/Bloomberg
For the past 21 years, serial startup founder Stefania Mallett has been seeking venture capital, usually from white male investors. Late last week, she finalized her biggest investment yet, $100 million to grow EzCater Inc., a startup she co-founded 10 years ago to connect businesses with catering from local restaurants. "When the wire transfer came through, I thought, I've never seen that much money in my life," Mallett, 62, said.
EzCater's funding round is the largest secured by a female founder and CEO in tech this year. It matches wedding planning company Zola, co-founded by Shan-Lyn Ma, which also raised $100 million in May. Mallett, who had previously raised $70 million for EzCater, credited her success to a refined approach to pitching. "I think the environment has gotten only slightly less difficult," she said. "But I've changed. I've learned to tell my story in a way that is more gender-blind, and that means focusing almost entirely on data."