NeighborSchools — a company that is reinventing childcare for children, parents, and providers — announced recently that it raised $3.5 million in a seed round of funding. Accomplice led the funding round. And Tuhaye Venture Partners and World Within also joined the round.
“As a parent, I know the struggle to find childcare is real and universal,” said Bridget Garsh, co-founder and COO of NeighborSchools. “Some can’t find care, others don’t earn enough to afford it, and no one likes to think about how little preschool teachers make. We created NeighborSchools to empower people passionate about working with children to become small business owners. By supporting them we are increasing access to affordable, high-quality childcare for parents everywhere. Children get the individualized care they deserve, parents pay a lot less than they would at a large, corporate center, and Providers can earn a living wage doing what they love. It’s a win-win-win.”
There are 28 states where the cost of annual childcare costs more than college tuition. But childcare professionals struggle to make a living with many earning below minimum wage. NeighborSchools is aiming to solve this problem by helping experienced caregivers launch and sustainably operate licensed home daycares.
“We’re on a mission to bring quality, affordable childcare to every block in America and we believe that starts with deeply understanding our customers, both Providers and parents, and building a community and platform that meets their unique needs,” added Brian Swartz, co-founder and CEO of NeighborSchools. “This funding will help us accelerate this vision and make NeighborSchools the go-to platform for parents to discover, research and connect with licensed home daycares near them.”
NeighborSchools is connecting parents to thousands of licensed home daycares throughout Massachusetts. And this funding round will enable the company to expand throughout the region.
“We’re thrilled to support NeighborSchools in their mission,” explained Samuel Clemens, General Partner at Accomplice. “The founding team has extensive experience building world-class technology platforms and the company’s advisors have decades of experience working at every level of early childhood education. Together they have a timely opportunity to tackle a massive industry that’s in desperate need of reinvention.”