The early education software startup Brightwheel has acquired $55 million in a Series C financing round, which puts the company’s Value at 600 million. The round is led by Addition and was backed by Emerson Collective, Next Play Ventures, Julia and Kevin Hartz, and Daniel Shapero, along with existing investors GGV Capital, Bessemer Venture Partners, and Eniac Ventures.
Brightwheel Early Education Platform Raises $55 Million from $600 Million Value
“Early education is among the most important factors that determine the outcomes of children; it is essential for families with children and a vital part of our economy.” Dave Vasen who is the CEO and founder of Brightwheel, stated in the company’s press announcement this Wednesday (Feb. 3). Vasen claimed that the company is “honored” to support early education professionals and was “proud” of having had an “impact” with a wide range of parents, teachers and small-scale companies from across the country.
Over 850,000 US small businesses comprise the early education market, and many have used spreadsheets and Resident software for daily activities. Brightwheel was the initial business to create a complete software as a service (SaaS) solution that can be used to support the preschool and childcare sectors. The Brightwheel platform allows operators to manage their operations more efficiently, allows teachers to collaborate more closely with their students, and gives parents a chance to engage with their children in a deeper involvement. Brightwheel’s app allows daycare centers, preschools, and camps to connect with parents and manages to bill.
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The COVID-19 epidemic has brought many problems for the early learning industry. More than 50% of childcare centers and preschools were closed this spring in 2020. Brightwheel assisted by providing COVID-specific innovation to enhance learning at home, health checks, and safety, as well as digital communications and touchless sign-in systems, Brightwheel stated. Users of Brightwheel have claimed that the platform has been crucial in helping them tackle the challenges of the epidemic.
“Brightwheel has made itself the top operating system in the early education industry, helping both families and providers, particularly in the last few months when they’ve required the greatest,” said Lee Fixel, the creator of Addition. He also said that Brightwheel is run by a “fantastic group of employees,” in addition to stating that Addition is eager to assist in helping the business expand.
The company’s Value has risen from 115 million last year, per PitchBook. According to a Bloomberg report, the company is now appraised at 600 million following the recent investment.
It is the Silicon Valley online learning platform Outschooloffers an educational subscription marketplace that offers thousands of online classes across various topics. Additionally, the platform for transaction processing Bursari created for schools and community groups helps teachers, administrators, and parents improve their payment practices. The company uses Fiserv’s Digital Payments SDK for seamless digital payment for school-related events and programs.