65 percent of women are the CFOs in their household, meaning they make the principal financial decisions. When serial entrpreneur Amanda Steinberg was looking to create an email business, she fixated on improving women’s financial smarts, something she had struggled with as a new mother buying a new home. And so DailyWorth, a sort of DailyCandy for money, was born.
The company has just raised $2 million from a group of angel investors led by Joanne Wilson and Stocktwits founder Howard Lindzon. Other investors include 500 Startups Dave McClure, TechStars Dave Cohen, networking artiste Peter Shankman and Eric Schmidt’s TomorrowVentures. That brings its total funding to just over $3 million. “Amanda is an experienced entrepreneur and web developer. She’s got a great set of skills and is tapping into a big market,” said Ms. Wilson.
DailyWorth now has over 200,000 subscribers. “I’ve started 6 businesses, some of which lasted six weeks, some six years,” said Ms. Steinberg. “Nothing I’ve done has worked like this. I spent a decade as an engineer building VC backed companies for other people, and I saw what made a company fail. I wanted to simplify, and the Daily Candy model just works really, really well.” Andrew Russell, formerly of Pilot Group, who has invested in email companies like Daily Candy and Thrillist, is an independent board member at DailyWorth.
The convergence of women, finance and careers is quite a hot market in New York right now. The Daily Muse (no relation) has been seeing big traffic growth as it heads to Y Combinator. And Abrams Media, apparently discovering that people were not as interested in super rich jerks as they imagined, rebranded Mogulite as Jane Dough, a site aimed at women in business with the terrible tagline, “the business new we knead”.
The biggest player in the space, at least in terms of cash raised, is LearnVest, which has piled up $24.5 million for its personal finance tool aimed at women that teaches user to tackle life events like getting out of debt, budgeting for a wedding, buying your first stock, or applying for a student loan. Today that company announced it was launching a new service offering a year of financial planning with email and phone support.