Brit+Co is first beneficiary of Intel Capital's $125 million diversity fund

Brit+ Co, an e-commerce and digital website, stood as the first beneficiary of Intel Capital's $125 million fund that is aimed to back firms led by women and minorities.

Brit Morin, founder and CEO of Brit+Co, confirmed that her company has raised $20 million from Intel Capital, and as its first acquisition brought user-generated DIY app Snapguide to add more media to its platform.

After acquisition,  Snapguide has been renamed to Snapguide by 'Brit+Co' and it is expected to propel the user base of Brit+Co. 

Brit+Co claims it has over 12 million monthly unique users with a growth rate of three-fold year after year. This number includes not just the visitors but also the social followers. In fact, the brand has become so credible and favorite on social sites that it gets an average of 50,000 Pinterest posts daily, points Morin.

Brit+Co is a guide cum tutor, and platform for many women tutor for homemade, local and responsibly sourced products.

 "People want handmade things, which they want to make themselves, and they want to leverage technology to do it. And, our platform exactly does that bringing both sides of the world," said Morin, a Google Alumni.    

Morin started Brit+Co in 2011, and as the years passed her company raised $6.3 million back in 2013, and a $1.3 million seed before that. "My aim is to inspire million of users with expert advice from 'makers,' besides getting on board people who specialize in do-it-yourself projects. Advices are also from chefs, designers, inventors, handicrafts, among other handmade product experts. Presently, Brit+Co has partnerships and ad deals with Lay's, General Electric, Toyota and Scotch Brand.

"Our relationship with Intel will prove advantageous on the advertizing front and also help focus on makers," she added, "There are fewer female-oriented businesses getting funded due to lack of female venture capitalists. Intel Capital has done a good job and is serious about getting more women entrepreneur on board."  

To reach its goal to be a modern Martha Stewart-esque hub, Brit+ Co is roping in best of talents- Nicole Emanuel, former Refinery 29 CFO, will join the executive team as CFO. As board members, Intel Capital's own Lamber and Sasan Lyn would join the group.

Others joining in Brit+ Co's board as subcommittee are CEO of Daily Mail North America, Jon Steinberg, and head of Enjoy and former retail operation member of Apple, Ron Johnson among others.