TheMomProject (TMP), a U.S.-based job board, has raised $80 million in debt and equity financing, bringing its total raise to $106 million.

TMP was founded in 2016 and focuses on professional working women who leave careers because of parenthood responsibilities. When they want to return, TMP connects these women with employers and helps them get back into the job market.

The latest cash injection includes $60 million in Series C funding led by Leeds Illuminate, a women-led growth equity investor, which brings the company’s valuation to $300 million. The round also included $20 million in debt financing from Silicon Valley Bank, according to Market Screener.

“Our latest round of funding will enable us to remain focused on our goal of connecting moms with more than $1 billion in economic opportunity in the next two years, while also accelerating significant investments in our products, offerings and customer partnerships,” said TMP in a blogpost.

TMP estimates that 43% of highly-skilled women bid farewell to their career after becoming mother. “In 2020, 2.3 million women left the U.S. workforce — either through job loss or being forced to quit in order to care for their children — leading to the lowest levels of women in the labor force since the 1980s,” it said.

TMP doesn’t show listings to users until after they sign up. After completing talent profile, they can browse career opportunities and apply for jobs. It also provides resources to help women find a career path, organizes virtual career workshops, connects members for job support, and offers upskilling opportunities.

The job board is free for job-seekers with college degree and 6 to 12 years of working experience. It offers freelance / contract jobs, re-entry programs, and permanent opportunities in technology, finance and accounting, marketing, HR, legal, and sales. Its unique maternity program helps make up for the resources gap created by parental leave.

Employers can post jobs free of charge and only pay a fee after a candidate is hired from TMP’s network. More than 500,000 professionals and 2,000 companies have registered with the job board.

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