KidPass Raises $5.1 Million In VC Funding | PYMNTS.com

This post was originally published on this site


KidPass, the startup that features a monthly membership program for kid-friendly local activities, raised $5.1 million in a round of funding.

According to a report in TechCrunch, the Series A funding was led by Javelin Venture Partners. Other participants in the round of fundraising included CoVenture, Y Combinator, TIA Ventures, Bionic Fund, Cocoon Ignite Ventures and FJ Labs. Some were already investors in the startup, which is headquartered in New York City and will use the funding to expand into Los Angeles, San Francisco, Seattle, Boston, Philadelphia, Washington, D.C., and Chicago. As part of the investment, Jed Katz, managing director at Javelin, and Rachel Jarrett, president of Zola, will join KidPass’s Board of Directors, noted the report.

KidPass takes a page from ClassPass, which is a monthly subscription for adults that lets them try fitness classes around their neighborhood. KidPass customers pay a fee each month to try different kid-friendly classes and events. In an interview with TechCrunch, cofounder Solomon Liou said he, along with Aaron Kaufman, Chhay Chhun and Olivia Ballvé, the other cofounders, decided to start the company after they were faced with the challenge of finding good activities for their kids.

“While there were mobile apps to instantly book restaurants, doctors and taxis on demand, there wasn’t anything like that for kids’ activities,” said Liou. “In fact, the main way that parents discover kids classes today is still through word of mouth from talking to other parents or using Google search and going through page after page of results. It’s time-consuming and difficult to navigate, with many businesses not even having a presence online.”

Membership for KidPass starts at $49 per month. There are two other membership options. Users get credits that cover the cost of dance classes, arts and crafts, sports events, museum classes, and a host of other activities and classes. KidsPass has 900 providers that use the app, including Gymboree, Kidville, Music Together and Super Soccer Stars, among others.

KidPass also plans to use the funding for software it’s developing for service providers to aid in managing classes, online registrations, scheduling and payments. It’s currently in beta with KidPass providers, noted the report.