Gray Matter’s coLABS, an early-stage gender-focused portfolio, made an undisclosed investment in Colombian employment outsourcing startup LikeU.
(Conveners.org) Gray Matters Capital’s coLABS, an early-stage and gender-focused portfolio, announced that it has invested in the Colombian startup LikeU. Implementing sustainable and inclusive employment opportunities through telecommuting, LikeU is creating thousands of part-time jobs and providing high quality services to Business Process Outsourcing sectors. coLABS, which was launched in early 2017, provides entrepreneurs with investment capital and advisor support.
LikeU is revolutionizing livelihood opportunities in Latin America, particularly for women and persons with disabilities, by offering online training, skills certifications, and well-paid salaries through part-time telecommuting jobs. Telecommuting creates more flexible positions for women who need to balance domestic responsibilities with the need to contribute to their household income. The company brings greater efficiency to corporate clients since recruits have already been vetted and trained in specific services or products, making the hiring process three times faster. The investment from coLABS seeks to promote LikeU’s growth by allowing the company to boost its corporate partnerships and improve its online platform to automate the entire recruitment process.
Juan Esteban Rincón, Founder and CEO of LikeU, commented, “We believe that people do their job best when they enjoy their work and are happy. We support women by creating new employment opportunities, strengthening families through acknowledging the need for balancing domestic responsibilities, and pushing towards a more inclusive and equal society. As a company, we align with coLABS’ desire to help change the gendered status quo. We are constantly innovating, always with an eye on quality of life for our clients and quality of services offered to our companies.”
coLABS’ investment in LikeU was made after a targeted search in Latin America for innovative companies tackling critical issues for women in the region. LikeU’s offering of access to formal employment to enable autonomy and self-sufficiency, particularly among the increasing number of female-led households in the region, made the company a great fit for the coLABS portfolio.
The next coLABS investment cycle will occur in October and is open to global applicants. “We are thrilled to add LikeU to our growing portfolio. We are energized by the incredibly talented entrepreneurs who are solving challenges faced by women across the world, and we’re excited to support their growth,” said Anna Cable, who co-leads the portfolio. “coLABS will continue to consider applicants from all over the globe throughout the year. However, we’re especially on the lookout over the next quarter for ambitious entrepreneurs working in East Africa, as we’re aiming to double the number of current investments before year-end.”
Entrepreneurs who are passionate about changing the lives of women and girls at scale should visit the coLABS website for information on investment criteria and how to apply for funding.