Datastream
On the Rise: 2019 Set a Record for New Female-Led Unicorns
The Briefing
- In 2019, just 9% of total VC investment dollars went to startups with at least one female founder
- While there’s still a long way to go to narrow the gender gap in VC funding, progress is being made—last year, 21 female-led businesses achieved unicorn status, compared to just 4 in 2013
On the Rise: 2019 Set a Record for New Female-Led Unicorns
In 2019, more female-led start-ups achieved unicorn status than ever before.
A unicorn is a privately held company that’s valued at $1 billion or more. Last year, 21 new female-led companies hit that valuation mark—a 40% increase compared to 2018.
Within the last decade, the number of female-led unicorns has grown steadily:
| Year | Unicorns with at least one female founder |
|---|---|
| 2013 | 4 |
| 2014 | 8 |
| 2015 | 9 |
| 2016 | 5 |
| 2017 | 8 |
| 2018 | 15 |
| 2019 | 21 |
One of the startups to achieve unicorn status in 2019 was Away, a travel and lifestyle brand based in New York. After launching in 2016, Away made $12 million in sales in its first 12 months, and in 2019, the company closed $100 million in Series D funding.
Glossier, a direct-to-consumer beauty company, also made the new unicorn list in 2019. Like Away, the New York-based beauty brand raised $100 million in Series D funding—almost double the amount garnered in its $52 million Series C round.
There’s Still Work to Do
While it’s clear that the number of female-led unicorns is increasing, there’s still a wide gender gap in the venture capital and startup landscape.
In 2019, only 9% of VC investment dollars went to companies with at least one female founder. And this proportion of dollars to female/male co-founded companies hasn’t changed much over the years:
| Year | Proportion |
|---|---|
| 2013 | 8% |
| 2014 | 8% |
| 2015 | 9% |
| 2016 | 8% |
| 2017 | 10% |
| 2018 | 9% |
| 2019 | 9% |
Why does this gap persist? One reason could be the lack of female representation in venture capital leadership. As of 2019, less than 10% of decision-makers at U.S. venture capital firms are women.
In short—things are looking up, but there’s still a ton of progress to be made.
»Interested in learning more about female founders and the VC landscape? Read our full article on The Top Female Founder in Each Country
Where does this data come from?
Source: Crunchbase report, titled “Funding to the Female Founders”.
Notes: The analysis was based on announced funding to companies with founders associated. Crunchbase included private company fundings from seed through latestage venture; excluding private equity rounds.
Central Banks
Charted: Public Trust in the Federal Reserve
Public trust in the Federal Reserve chair has hit its lowest point in 20 years. Get the details in this infographic.
The Briefing
- Gallup conducts an annual poll to gauge the U.S. public’s trust in the Federal Reserve
- After rising during the COVID-19 pandemic, public trust has fallen to a 20-year low
Charted: Public Trust in the Federal Reserve
Each year, Gallup conducts a survey of American adults on various economic topics, including the country’s central bank, the Federal Reserve.
More specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy. We’ve visualized these results from 2001 to 2023 to see how confidence levels have changed over time.
Methodology and Results
The data used in this infographic is also listed in the table below. Percentages reflect the share of respondents that have either a “great deal” or “fair amount” of confidence.
| Year | Fed chair | % Great deal or Fair amount |
|---|---|---|
| 2023 | Jerome Powell | 36% |
| 2022 | Jerome Powell | 43% |
| 2021 | Jerome Powell | 55% |
| 2020 | Jerome Powell | 58% |
| 2019 | Jerome Powell | 50% |
| 2018 | Jerome Powell | 45% |
| 2017 | Janet Yellen | 45% |
| 2016 | Janet Yellen | 38% |
| 2015 | Janet Yellen | 42% |
| 2014 | Janet Yellen | 37% |
| 2013 | Ben Bernanke | 42% |
| 2012 | Ben Bernanke | 39% |
| 2011 | Ben Bernanke | 41% |
| 2010 | Ben Bernanke | 44% |
| 2009 | Ben Bernanke | 49% |
| 2008 | Ben Bernanke | 47% |
| 2007 | Ben Bernanke | 50% |
| 2006 | Ben Bernanke | 41% |
| 2005 | Alan Greenspan | 56% |
| 2004 | Alan Greenspan | 61% |
| 2003 | Alan Greenspan | 65% |
| 2002 | Alan Greenspan | 69% |
| 2001 | Alan Greenspan | 74% |
Data for 2023 collected April 3-25, with this statement put to respondents: “Please tell me how much confidence you have [in the Fed chair] to recommend the right thing for the economy.”
We can see that trust in the Federal Reserve has fluctuated significantly in recent years.
For example, under Alan Greenspan, trust was initially high due to the relative stability of the economy. The burst of the dotcom bubble—which some attribute to Greenspan’s easy credit policies—resulted in a sharp decline.
On the flip side, public confidence spiked during the COVID-19 pandemic. This was likely due to Jerome Powell’s decisive actions to provide support to the U.S. economy throughout the crisis.
Measures implemented by the Fed include bringing interest rates to near zero, quantitative easing (buying government bonds with newly-printed money), and emergency lending programs to businesses.
Confidence Now on the Decline
After peaking at 58%, those with a “great deal” or “fair amount” of trust in the Fed chair have tumbled to 36%, the lowest number in 20 years.
This is likely due to Powell’s hard stance on fighting post-pandemic inflation, which has involved raising interest rates at an incredible speed. While these rate hikes may be necessary, they also have many adverse effects:
- Negative impact on the stock market
- Increases the burden for those with variable-rate debts
- Makes mortgages and home buying less affordable
Higher rates have also prompted many U.S. tech companies to shrink their workforces, and have been a factor in the regional banking crisis, including the collapse of Silicon Valley Bank.
Where does this data come from?
Source: Gallup (2023)
Data Notes: Results are based on telephone interviews conducted April 3-25, 2023, with a random sample of –1,013—adults, ages 18+, living in all 50 U.S. states and the District of Columbia. For results based on this sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level. See source for details.
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