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KindiCare welcomes Domain as major shareholder in deal that secures future growth
Jason Roberts
May 05, 2022
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Childcare search and comparison platform KindiCare has secured listed real estate company Domain Holdings as a major shareholder in its latest capital raising round, providing a substantial pool of capital to support the next leg of the company’s ambitious growth plans.
The seed funding will enable KindiCare to expand its market share and roll out innovations such as the soon to be released KindiCare CRM and Portal App for childcare providers and a new early learning service comparison tool for families.
“KindiCare was created based on our own family's experience to cut through all the complexity of finding childcare and simplify the journey for families like ours searching for early learning services,” Founder and CEO Benjamin Balk said.
“Domain has been a great supporter of our business as a partner and it is fantastic to see our partnership evolve with Domain now investing in KindiCare to support our growth strategy as we continue to innovate and deliver a constantly improving and unique marketplace experience for the early learning sector.”
The news marks the end of KindiCare’s latest capital raising round during which a total of $3.3 million was raised with Domain being the largest contributor, and on completion, the largest individual shareholder outside of Mr Balk who retains a majority stake.
The broader partnership will see Domain adding KindiCare’s listings on their app and website and KindiCare’s app and website will also syndicate Domain’s property listings providing a more comprehensive information set for enquiring families.
Domain’s Chief Product Officer, Nathan Brumby said KindiCare’s success in applying data and platform based solutions to deliver a superior customer experience aligned with its own strategic aims to evolve its broader marketplace strategy and provide a better property discovery experience.
“We know that childcare and schools play an important role for parents when searching for a home to buy or rent. Aligning with KindiCare complements Domain’s leading school zones search feature and will allow Domain to provide parents with the most complete and accurate information to better understand the quality and cost of childcare in the local area of their property search.”
KindiCare is the newest entrant into the child care search and compare space having launched its innovative app in April 2021 and more recently a rich web, next generation search and compare website.
With more than 60,000 sessions on the App alone in March, KindiCare expects to exceed 1 million visits to the website and app in 2022.
“The speed at which KindiCare has become dominant in its sector is impressive and we welcome the opportunity to be part of its future expansion,” Mr Brumby said.
For more information about KindiCae please click here.
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