Its legal fund, which is still taking donations, will be housed at the National Women's Law Center and help victims who "have been silenced for too long".
The powerful women of Hollywood are fighting back against sexual harassment and abuse - not only in the entertainment industry rocked by misconduct sandals a year ago, but also in workplaces across the country. "If this group of women can't fight for a model for other women who don't have as much power and privilege, then who can?"
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It also includes an effort to increase gender parity across all industries, including Hollywood.
The initiative's goals also include promoting legislation to penalise companies that tolerate persistent harassment, and to fight against the use of non-disclosure agreements to shield sexual abusers.
More broadly, Time's Up says it will work to promote diversity in corporate management and help more women and men obtain legal help to hold wrongdoers accountable.
The meetings reportedly began in October, shortly after Harvey Weinstein was first accused of sexual assault.
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Time's Up is backing the movement for women to wear black, in solidarity with those who have been sexually harassed, at Sunday's Golden Globes ceremony. For years, we've sold these awards shows as women, with our gowns and colours and our attractive faces and our glamour.
The Time's Up website details and defines what sexual harassment is, and what to do if it happens to you.
"We're finally hearing each other, and seeing each other, and now locking arms in solidarity with each other, and in solidarity for every woman who doesn't feel seen, to be finally heard", Witherspoon said.
So far the project has been able to raise $13 million of its targeted $15 million.
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