Serena Williams to Invest in New Bumble Fund

  • Monday, April 01 2019 @ 09:26 am
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Bumble CEO Whitney Wolfe Herd and Serena WIlliams
Image: Bumble

Dating app Bumble has set its sights on partnering with prominent female leaders, including tennis champion Serena Williams. The company just announced that she will be an investor and active member of the new Bumble Fund, as well as a global ambassador for the brand.

The Bumble Fund is an investment fund started by Bumble founder and CEO Whitney Wolfe Herd to help female entrepreneurs get support for their projects and businesses. It’s also a great way to market the company’s networking app Bumble Bizz. The Bumble Fund focuses on getting businesses started with initial funding, ranging anywhere from $5,000 to $250,000, primarily for businesses led by women of color and underrepresented groups.

Some businesses who have received Bumble Fund investment include business advisory service Alice, workout and training app Gixo, and the probation and parole support service Promise, according to Forbes.

“In my life, and today more than ever, I’ve learned how impactful one woman’s voice can be when given a platform to speak and be heard,” Williams said in a statement.

In April, Herd and Williams will also be hosting the Bumble Fund pitch competition, open to female entrepreneurs with special attention given to those with “diverse backgrounds, experiences and perspectives,” according to Forbes. The competition was announced in March and applicants can enter through March 27, 2019.

Williams recently teamed up with Bumble to star in its first-ever Super Bowl ad, for the campaign #InHerCourt. The ad highlighted Bumble’s initiatives not only in letting women take the lead in their dating lives, but also in their careers, networking circles, and friendships.

“When we launched our #InHerCourt campaign with Serena Williams this past January, we were amazed by the overwhelming response we received from women globally who felt empowered by our message,” Wolfe Herd said in a statement. “In teaming up with Serena for the Bumble Fund, we want women everywhere to know that we are here, we are listening and we believe in you.”

Williams isn’t new to the investment game. She founded Serena Ventures, which has invested in over thirty companies focusing on underrepresented founders or challenges. She also serves on the boards of Poshmark and SurveyMonkey, according to website Tech Crunch. She saw Bumble as an opportunity that aligned with her investment company’s mission to amplify women’s voices.

Williams said in an earlier interview with AdWeek, “If I can introduce these women with great companies to other people, I feel like, wow, we can make a little bit more noise.”

Bumble has more than 50 million users worldwide across its suite of platforms, including the dating app, Bumble Bizz, and Bumble BFF.