Wonderschool, a New York City – based network of boutique, high-quality child cares and preschools, raised $2.1M in new funding.
Backers included Omidyar Network, Be Curious Partners, Rethink Education, Edelweiss partners and Learn Capital.
The company intends to use the funds to expand in New York and continue to grow in the greater Bay and Los Angeles areas.
Developed by veteran entrepreneurs Chris Bennett and Arrel Gray, Wonderschool provides a platform that enables experienced educators and child care providers to start and run their own in-home businesses while providing an affordable service to families in their communities.
Partnering with Wonderschool, educators don’t have to find, lease or build a new space. They use an underutilized asset, a provider’s own home, to enable an individual to quickly start up with minimal overhead. The company provides assistance with licensing, program setup, marketing, payment processing, and everything in between.
The software platform allows teachers to manage their program, students and parents from one place, while also providing parents a real marketplace to search for programs, schedule visits, enroll their children and make payments. Wonderschool collects a percentage of monthly tuition fees from each program to help cover costs of the software and services.
Currently, the company has partnered with 16 programs in Greater New York City and plans to expand to 150 partner programs by the end of 2018. Today’s announcement brings total funding to more than $4M in the last year.