What is Able?
Founded in 2010 as a nonprofit organization and later converted into a for-profit benefit corporation, Able operates as an American women's clothing and accessories retailer. Headquartered in Nashville, Tennessee, the company's mission, initiated by founders Barrett Ward and Rachel Ward, was to empower women in Addis Ababa, Ethiopia. This unique social enterprise model positions Able within the ethical fashion and socially conscious retail sectors, differentiating it from traditional apparel businesses.
How much funding has Able raised?
Able has raised a total of $1.2M across 2 funding rounds:
Debt
$350K
Debt
$816K
Debt (2020): $350K with participation from PPP
Debt (2021): $816K led by PPP
Key Investors in Able
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for Able?
The substantial enterprise-level capital infusion indicates Able is poised for significant scaling and expansion. This strategic investment will likely fuel initiatives such as broadening product lines, enhancing supply chain capabilities, and potentially expanding its retail footprint. As a benefit corporation, Able is expected to continue integrating its social mission with its commercial objectives, leveraging this new financing to amplify its impact and market reach in the competitive fashion industry.
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