(EDITOR’S NOTE: The eight teams that comprise the fourth cohort in Launch Tennessee’s “The TENN” master accelerator program bring the curtain down on the experience at a pitch finale set for March 29 at Well Placed Smile, 907 Gleaves Street in Nashville. To register, click here. Ahead of that event, we are running short profiles on each of the teams.)
By Tom Ballard, Chief Alliance Officer, PYA
“A woman who takes a break for two or three years will sacrifice 30 percent of her lifetime earnings,” Courtney Jones, Founder and President of MomSource Network, told attendees during “The TENN Road Show” stops in Knoxville last month.
Her Knoxville-based start-up, which we first profiled in early 2015 in this teknovation.biz article, was founded in August 2013 under the name of MomSource Network. The idea stemmed from Jones’ desire to provide flexible opportunities for moms who had left the workforce to have children and now wanted to resume their professional careers.
“I want to see women be successful both personally and professionally,” she told attendees during the Knoxville stop at Radio Systems Corporation “You need to think of a career as a dial, not simply an on or off switch.”
MomSource Network’s target market is the 25- to 54-year old, college-educated individual.
Since the company’s founding, it has grown to 4,000 members serving 200 unique employers, Jones said. After adding new software last October, the subscriber base grew by 800.
“We plan to cross one million dollars in revenue in 2017 with a total of 10,000 members,” she said. That would be a five-fold increase over 2016 in terms of revenues.
Jones added that MomSource is planning a capital raise of one million dollars for targeted marketing and platform enhancements.
“We have three focus areas,” she explained. Those are access to professional development, peer networking, and access to flexible employment.
Since its founding to serve Knoxville area clients, MomSource Network has expanded to Atlanta, Austin, Chattanooga, Missoula, Nashville, St. Louis, and Tampa.
You can find all of our stories about MomSource Network and its Founder at this link.