Upwards connects employers who want to provide childcare benefits to their workforce with the largest network of in-home childcare providers, nannies and babysitters in the United States. We’ve known the Upwards team since 2019 and have watched them navigate difficult market conditions over the past two years. They’ve not only survived but are solving challenges exacerbated by the pandemic to launch an expanded strategy that perfectly meets the needs of today’s workforce, employees, and childcare entrepreneurs.
Upwards is sitting at the intersection of several important trends:
Upwards launched in 2017 as a consumer marketplace connecting parents who needed childcare with a network of licensed, in-home daycare providers. Following her early career in private equity, CEO Jessica Chang launched and still owns a small chain of daycares. She understood the challenges for both parents and childcare providers firsthand. Jessica recruited CTO Jesse Forrest and CMO Matt Reilly as co-founders; all three had a prior history of working together, which we always love to see in a founding team.
During the early years of Upwards, the team built a full operating system that allows in-home childcare providers to run their businesses along with a comprehensive curriculum system. While the consumer business was growing nicely pre-COVID, the pandemic hit the childcare industry hard and that gave the team an opportunity to reevaluate the strategy and offer an employee benefit solution.
When done correctly, managed marketplaces provide tremendous value to all the parties. Employers love Upwards' solution: it’s affordable, flexible, and has demonstrated impact on both reducing absenteeism and increasing retention. Employees appreciate the ultimate flexibility of being able to choose location and schedule for their childcare needs from week to week. And for the childcare providers, Upwards offers a complete operating system, curriculum resources, and a steady influx of customers.
We’re excited to announce that we’re leading Upwards' $12 million Series A alongside existing investors Amplify, Fika Ventures, and Equal Ventures. Asset management firm Gopher also joined the round. If you’re looking for a new childcare option for your family—or for your company—check out Upwards' offerings. Jessica, Matt, Jesse, and team:
Upwards connects employers who want to provide childcare benefits to their workforce with the largest network of in-home childcare providers, nannies and babysitters in the United States. We’ve known the Upwards team since 2019 and have watched them navigate difficult market conditions over the past two years. They’ve not only survived but are solving challenges exacerbated by the pandemic to launch an expanded strategy that perfectly meets the needs of today’s workforce, employees, and childcare entrepreneurs.
Upwards is sitting at the intersection of several important trends:
Upwards launched in 2017 as a consumer marketplace connecting parents who needed childcare with a network of licensed, in-home daycare providers. Following her early career in private equity, CEO Jessica Chang launched and still owns a small chain of daycares. She understood the challenges for both parents and childcare providers firsthand. Jessica recruited CTO Jesse Forrest and CMO Matt Reilly as co-founders; all three had a prior history of working together, which we always love to see in a founding team.
During the early years of Upwards, the team built a full operating system that allows in-home childcare providers to run their businesses along with a comprehensive curriculum system. While the consumer business was growing nicely pre-COVID, the pandemic hit the childcare industry hard and that gave the team an opportunity to reevaluate the strategy and offer an employee benefit solution.
When done correctly, managed marketplaces provide tremendous value to all the parties. Employers love Upwards' solution: it’s affordable, flexible, and has demonstrated impact on both reducing absenteeism and increasing retention. Employees appreciate the ultimate flexibility of being able to choose location and schedule for their childcare needs from week to week. And for the childcare providers, Upwards offers a complete operating system, curriculum resources, and a steady influx of customers.
We’re excited to announce that we’re leading Upwards' $12 million Series A alongside existing investors Amplify, Fika Ventures, and Equal Ventures. Asset management firm Gopher also joined the round. If you’re looking for a new childcare option for your family—or for your company—check out Upwards' offerings. Jessica, Matt, Jesse, and team:
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