London women's networking club Allbright raises $18.8m for US expansion
Women-only London membership club Allbright has raised new funding to support a planned US expansion.
As TechCrunch reports, the club has raised $18.8 million in a round led by American real estate firm Cain International, which it says will drive its growth into Los Angeles, New York, and Washington.
Allbright consists of physical club locations and the Allbright Academy, an online learning programme aimed at women entrepreneurs.
The company is also set to launch Allbright Connect, a new networking app targeted at the same demographic.
Allbright Connect may face competition from other new entrants to the market. As we previously reported, Girlboss head Sophia Amoruso this month announced the launch of the brand's own new professional network aimed at professional women.
Allbright currently has two locations in London and one in West Hollywood, California. A spokesperson told TechCrunch that the new funding values the company at around £100 million.