Breaking Barriers and Building Community: How Alex West Steinman Raised Over $1 Million to Expand The Coven

Alex West Steinman is reshaping what entrepreneurship, equity, and empowerment look like in the modern workplace. The Minneapolis-based innovator is the co-founder and CEO of The Coven, a trailblazing co-working and community space designed to uplift women, non-binary, and transgender professionals. According to Black Enterprise, The Coven is both the first woman-owned and Black-owned co-working space in Minneapolis, a feat that underscores Steinman’s commitment to inclusion and representation in business (source: Black Enterprise).

Since launching in 2017 alongside co-founders Erin Newkirk, Liz Giorgi, and Bethany Iverson, Steinman has helped turn The Coven from a local idea into a nationally recognized movement for inclusive professional spaces. Built on the belief that diversity fuels innovation, The Coven offers more than just office space—it’s a network for mentorship, leadership, and belonging.

From Startup to Sustainable Movement

When the COVID-19 pandemic hit, The Coven—like many co-working spaces—was forced to shut its doors temporarily. But instead of folding under pressure, Steinman and her team pivoted. They launched The Coven Digital, a virtual membership platform designed to maintain community connection during isolation. “We knew our members needed more than just a workspace; they needed support, accountability, and human connection,” Steinman told Forbes (source: Forbes).

The digital expansion became a model for resilience in the co-working industry. Today, The Coven offers flexible membership plans, including digital access, shared workspace options, and private team offices—with conference room rentals starting at just $50 an hour.

“As we reopened and members started coming back, we saw a major increase in interest for private and team offices,” Steinman explained. “Right now, we’re at 100% capacity in our private office spaces, which shows how much people value what we’ve built.”

Reimagining Work, Redefining Leadership

While traditional office models struggle to recover post-pandemic, the co-working industry has rebounded—especially among women and entrepreneurs of color. According to Inc. Magazine, women-led co-working spaces across the U.S. have surged as professionals seek flexibility and inclusion often lacking in conventional corporate environments (source: Inc.).

The Coven distinguishes itself through three key pillars rarely seen in traditional workplaces:

1. Intentionally inclusive design – each location is built to reflect cultural diversity, accessibility, and comfort.

2. Professional development and mentorship – featuring workshops and one-on-one guidance led by women and non-binary business leaders.

3. Brand-building and marketing support – helping members grow their ventures with resources traditionally reserved for large corporations.

This holistic model has turned The Coven into a blueprint for equitable entrepreneurship—and investors have taken notice. Steinman has raised over $1.3 million to franchise The Coven nationally, with a total of $2.9 million secured since 2019 to fund expansion into Illinois, North Carolina, and California (source: Minneapolis Star Tribune).

Investing in Community, Not Just Real Estate

For Steinman, The Coven is not just a business—it’s a mission. The flagship Lake Street corridor location in Minneapolis stands as a beacon of community renewal. The neighborhood, once devastated during the 2020 uprisings following the murder of George Floyd, has become a symbol of rebirth and resilience. “It was important to invest in the communities we want to see thrive,” Steinman told The Guardian (source: The Guardian).

The Lake Street site now boasts a 50-person waitlist, underscoring the demand for inclusive spaces that foster both business growth and social healing. In partnership with Dogwood Coffee Co., The Coven’s Lake Street hub combines local entrepreneurship with cultural revival—something Steinman hopes to replicate nationwide.

Scaling With Intention

Unlike fast-scaling startups chasing rapid profit, The Coven’s expansion strategy is rooted in intentional growth. The first three franchise locations are set to open later this year, with ten more expected by 2024. “Our goal is to grow sustainably,” Steinman said. “We don’t just want to expand—we want to ensure every new space embodies the same values of equity and empowerment that we started with.”

Each franchise will receive full support from The Coven’s leadership team, including training in inclusive operations, marketing strategies, and business management. “Our skill sets allow us to support franchisees so they can thrive as business owners,” Steinman explained. “We’re thrilled to be at this stage and to help more entrepreneurs build spaces that make people feel they belong.”

The Future of Inclusive Workspaces

Steinman’s success represents more than a business milestone—it’s a shift in how we think about work and belonging. As the U.S. workforce continues to evolve, inclusivity and mental well-being have become central to workplace culture. A Harvard Business Review study found that employees in inclusive environments report 56% higher job satisfaction and are twice as likely to stay with their organizations long-term (source: Harvard Business Review).

The Coven’s growth illustrates this changing landscape. What started as a single co-working hub in Minneapolis has become a movement for equitable entrepreneurship, offering a model for how community spaces can drive both social and economic progress.

“I want The Coven to be a place where anyone—no matter their background—feels seen, supported, and powerful,” Steinman said. “We’re not just building offices. We’re building opportunity.”

With millions raised, national expansion underway, and a growing network of empowered members, Alex West Steinman is redefining what leadership looks like—one inclusive workspace at a time.