CHICAGO: PR agency Spool has pledged to provide free marketing services to female founders and women-led businesses as part of an initiative kicking off during Women's History Month in March.
The Chicago-based agency will pitch companies in the media and connect them with potential investors to address the disparity in venture capital funding that negatively impacts women and Black women founders.
Partnering companies include boutique distributor Gather Brands, olive oil line Dress It Up Dressing, and vegan company Southern Roots Vegan Bakery. CEO Katherine Merritt said Spool determines media angles and which companies need funding.
The initiative, which began in March and is expected to continue, began after Merritt posted on LinkedIn seeking women-owned food or grocery businesses for an upcoming segment on “Good Morning America.” Merritt said demand was so strong that Spool made plans to provide additional support.
“I got a ton of notes and messages. Literally hundreds of people reached out and expressed interest,” Merritt said. “I realized, “Oh my God, there's so much that I want and need to get stories like this out there. [it’s not all going to happen] Through a corner of a program. So what else can you do? ”
Spool itself has a division called Spool Ventures, which was formally established as a result of the company's investments in venture capital firms. As part of Spool's latest initiative, the agency is organizing forums between female founders within these VC funds and the companies they support.
In June 2023, Spool hired striking writers from the Writers Guild of America to support its creative department. He then partnered with marketing talent platform Wripple to connect agencies and brands with his WGA experts.
Merritt founded Spool in 2018 after serving as head of consumer practice at MSL. The agency's clients include the American Dental Association, nutribullet, Kraft Heinz, Airheads, Egglife, and Anycart.
