Shattering Barriers as a Visionary Female Entrepreneur!
The journey of a female entrepreneur in such an environment is one of courage, resilience, and unwavering determination to shatter the glass ceiling and pave the way for future generations of women. Despite significant progress in gender equality over the years, the world of entrepreneurship still grapples with a glaring gender disparity. Women face numerous challenges, ranging from limited access to funding and resources to biases and stereotypes that permeate the business world. These obstacles can often deter aspiring female entrepreneurs from pursuing their dreams and turning their innovative ideas into successful ventures.
Amidst these challenges, one woman has risen above the odds and is building a legacy of her own. Meet Sheri Atwood, the visionary Founder, and CEO of SupportPay, a groundbreaking platform designed to transform the way parents manage child support and shared expenses. With unwavering determination and a passion for solving real-world challenges, Sheri is reshaping the landscape for parents living apart from their children, providing them with a seamless and reliable solution.
Growing up as the youngest of three children raised by a single mother, Sheri Atwood understood the value of hard work and the impact of financial struggles. Determined to overcome these obstacles, she set her sights on attending college and securing a brighter future. Her journey led her to UC San Diego, where she embarked on a path towards becoming a doctor. However, fate had other plans.
As she worked her way through college, Sheri gained invaluable experience at Sony Electronics as a Market Analyst. Inspired by the dynamic world of business, she shifted her focus and pursued an MBA degree while ascending the ranks in Silicon Valley’s corporate arena, eventually becoming the youngest Vice President at Symantec.
Life took an unexpected turn when Sheri became a single mother, juggling the demands of her career and the responsibilities of raising her child. The turning point came when her daughter faced a medical emergency, prompting Sheri to reassess her priorities and seek a better solution for managing parental responsibilities.
Driven by her own experiences and recognizing the need for a more efficient way to handle child support and shared expenses, Sheri took a leap of faith and left her successful corporate career behind to create SupportPay. With a bold vision and unwavering commitment, she set out to revolutionize the parenting landscape and empower millions of families worldwide.
SupportPay emerged as a trailblazing platform that streamlines the complex process of managing child support and shared expenses. Through cutting-edge technology and intuitive features, parents can navigate these financial responsibilities with ease and transparency. Sheri’s relentless pursuit of excellence has led SupportPay to become a game-changer for parents, simplifying their lives and fostering healthier co-parenting relationships.
Join us as we celebrate the indomitable spirit and visionary leadership of Sheri!
Navigating Gender Bias
As a female trailblazer in the business world, Sheri confronts gender biases that unfortunately persist on a daily basis. Even in the tech industry, female founders continue to grapple with a lack of recognition and respect. Shockingly, ventures initiated by women receive only 2.2 percent of venture capital, and female CEOs within Fortune 500 companies face a 30 percent higher likelihood of being terminated or replaced compared to their male counterparts.
Sheri’s personal journey bears witness to these challenges. In December of 2016, she successfully closed a substantial $4 million Series A funding round for SupportPay, which fueled its growth. However, this achievement came at the cost of relinquishing control of the board. Tragically, just seven months after securing Series A funding, Sheri was ousted from her own company, and replaced by an investor insider.
The aftermath was disheartening, as Sheri learned that her company was destined for liquidation. Undeterred, she sought to salvage her creation and appealed to the board for intervention, only to be met with refusal. Despite her numerous attempts to engage potential acquirers, her pleas fell on deaf ears. Refusing to surrender, Sheri embarked on one final endeavor. In early 2018, she established a new holding company and presented an offer to regain possession of all the company’s assets. To her relief, the offer was accepted, prompting her to pour her heart and soul into restoring the company to its former glory.
Revolutionizes Child Support
In 2011, SupportPay was unveiled as a groundbreaking automated child support payment platform, destined to revolutionize the intricate, time-consuming, and anxiety-inducing process that affects nearly 300 million parents worldwide. This platform facilitates the exchange of over $900 billion in child support and related expenses, aiming to alleviate the burdens faced by modern families.
With SupportPay, contemporary families can now spend less time embroiled in disputes over child support, expenses, and alimony, and instead, channel their energy towards nurturing joyful and healthy children.
Sheri passionately emphasizes their vision, stating, “Our ultimate goal is to simplify family life by transforming the way financial matters are managed across households—from a conflict-laden, time-consuming, and stressful ordeal to a collaborative process involving all family members. We are dedicated to making the lives of single, divorced, and blended families easier by offering innovative applications that save parents precious time, money, and needless headaches.”
Bridging Financial Gaps
Sheri reveals some striking facts, shedding light on the pressing issue faced by 55 million separated parents in the US alone. A staggering 39 million of these parents engage in exchanging over $200 billion annually for child expenses, child support, and alimony. On a global scale, the numbers escalate even further, with over 298 million parents exchanging a whopping $900 billion each year.
While solutions addressing communication, visitation, and custody issues in divorce have been explored, the financial aspect remained largely untouched until the advent of SupportPay. This intricate process demands ongoing management, communication, and negotiation of shared expenses, and SupportPay has stepped in with constant technological innovation, automating these processes to provide a resourceful solution for parents.
As a comprehensive one-stop solution, SupportPay bridges the gap for divorced, separated, or single parents, facilitating direct management of child support and shared expenses. The company’s mission is deeply personal, driven by individuals who have either struggled to provide equal financial support to their children or have experienced similar situations during their own childhoods. Many of SupportPay’s employees are single parents or have directly witnessed the impact of divorce in their lives, giving them a unique insider perspective that fuels their dedication to making parents and children’s lives easier through the platform.
Sheri explains, “We go the extra mile at SupportPay to ensure that all children receive the financial support they rightfully deserve.” Their mission is to create a seamless child support experience, making life more manageable and equitable for parents and children alike.
Empowering Through Leadership
As a female CEO, Sheri embodies the spirit of a fighter, rising as a resolute leader to reclaim her company and persisting with unwavering determination despite daunting odds. Her role encompasses a vast array of responsibilities, including strategic planning, overseeing marketing efforts, managing company finances, operations, and spearheading technological advancements. Despite the numerous challenges she’s faced, the profound impact of helping parents and children propels her forward, making every hurdle worth overcoming.
As a visionary leader, Sheri believes in empowering her employees to devise their own solutions to problems, encouraging them to think creatively and step outside conventional boundaries. She fosters an environment that values innovation and encourages her team to approach her only after they have exhausted all other avenues, allowing SupportPay to flourish through the ingenuity of its employees.
Sheri firmly believes in being present in the moment, whether it’s during work or spending precious time with her daughter. She strives to dedicate at least two hours each day to connecting with her daughter, eagerly listening to her life’s current happenings and finding ways to strengthen their bond further. Sheri’s being an attentive mother and a dedicated CEO is not just a balancing act but a testament to her commitment to both her family and her company.
Vision for SupportPay’s Future
Sheri’s ultimate goal with SupportPay is to achieve resounding success in empowering parents living apart to provide their children with the financial support they rightly deserve. Beyond their current endeavors, they have ambitious plans to extend their technology’s reach to aid siblings and other family members in supporting their aging parents. Presently, SupportPay’s remarkable solution is already benefiting millions of parents and children by streamlining the intricate process of managing child support and shared expenses. Sheri confidently affirms, “In the near future, our aim is to establish SupportPay as the undisputed standard for managing family finances across households.”
On a personal level, Sheri harbors two significant aspirations. Firstly, she envisions being part of an investment firm that wholeheartedly focuses on funding female entrepreneurs, fostering opportunities for women in the business world. Secondly, she aspires to serve as an inspiration for other women and young girls, encouraging them to pursue their big dreams with determination and resilience. Through her own journey, Sheri aims to show that women can break barriers and thrive in male-dominated fields, leaving an indelible mark as a beacon of empowerment and success.
