By Angie Chang (Co-Founder & Editor-in-Chief, Women 2.0)
“Funding is not actually success. Success is being cash-flow positive, especially if you’re in a transaction-based business,” co-founder and CEO Danielle Morrill said. Today, Referly announced raising a $1 million seed round from investors including New Enterprise Associates, Ignition Partners, 500 Startups, Jeff Lawson, Elliot Loh and Eileen Burbidge.
“I could not be happier with the people who invested in us,” she said on TechCrunch.
“We tried to pick investors who would have different roles. We asked ourselves, ‘Who will be the CEO coach? Who will help us fill out a board? Who can help with user experience and user interface design?”
In a blog post detailing how starting Referly took three years, Danielle pitched the Referly concept for the first time at Women 2.0 Startup Weekend in 2009. She wound up working on another concept with a team for the weekend, but the seed for her startup was planted and she kept pursuing her interest in affiliate marketing for the next three years under the radar.
Congrats to Danielle Morrill on the raise – good luck and we look forward to seeing Referly go big and make waves in the news!
Women 2.0 readers: What startup idea has been lurking in your mind for a while? Let us know your vision in the comments!
About the writer: Angie Chang is Editor-in-Chief and Co-Founder of Women 2.0, a media company offering content, community and conferences for aspiring and current women innovators in technology. Our mission is to increase the number of female founders of technology startups. Previously, Angie held roles in product management and web UI design. Angie holds a B.A. in English and Social Welfare from UC Berkeley. Follow her on Twitter at @thisgirlangie.