US child care management platform Kangarootime raises US$3.5m to fund growth
Kangarootime, the Buffalo New York based cloud based child care management platform, has secured $3.5 million in the company’s first significant round of venture capital financing, known as as Series A funding, according to reporting by technology startup news provider Techstartups.
The proceeds of the raise will be used to scale business operations and hire key new team members with a view to accelerating company growth ahead of the launch of its new suite of education and enterprise products expected in 2020.
Kangarootime’s system includes a range of parent focussed functionality as well as supporting centre managers. Some features of the system are automated ‘check-in’ and ‘check-out,’ statement and billing services, messaging and picture sharing platforms, as well as a suite of safety features.
Commenting on the outcome, Kangarootime Founder and Chief Executive Officer Scott Wayman said the system was built to help education settings to serve families, “never knowing that there was so much valuable data to help our customers build bodies, minds and souls.”
“Our next chapter is about helping our customers become data-driven and use actionable intelligence to become better educators” he added.
Cultivation Capital, a venture capital firm that invests in early stage technology, software and life sciences companies, led the round and going forward will have at least one board seat with Heather Wood, a General Partner of Cultivation Capitals joining the Board at this stage.
Ms Wood noted “Cultivation is thrilled to add Scott and the Kangarootime team to our portfolio. With Scott’s proven success and passion for solving the problems of early childhood centers, we know that Kangarootime will be able to serve the specific needs to centers everywhere.”
For more information on Kangarootime please click here.