Online Class Company GetSetUp Raises $10 Million

By Annie Baker ● October 12, 2020
  • GetSetUp announced it has raised $10 million in funding led by ReThink Education. These are the details.

GetSetUp — a mission-driven education technology company that is focused on creating economic and learning opportunities for older adults — announced it has raised $10 million in funding. The investment was led by ReThink Education and they were joined by AME Cloud Ventures (Jerry Yang), Work Play Ventures (Mark Pincus), Sweat Equity Ventures (Reid Hoffman), and several other consumer internet and health tech investors including David Ko, John Danner, Dan Rosensweig, Jeff Alter and Bradley Horowitz. And the funding will be used to accelerate the continued growth and development of GetSetUp.io, a social learning platform for older adults.

Known for pioneering a learning and community platform where older adults can learn about a variety of topics through a live and interactive peer-to-peer teaching model, GetSetUp currently offers over 150 classes on essential life-changing skills, ranging from professional development to technology, health, wellness, and hobbies and casual social hours with trained expert guides holding graduate and master’s degrees in business, music, science, etc. And GetSetUp is easy to use and makes classes available to members anytime unlike more traditional education platforms that operate under a “book and schedule” approach.

Founded in 2019 by Lawrence Kosick and Neil DSouza, GetSetUp is essentially a simple way for older adults to meet people and engage with others their age. And GetSetUp provides new economic and career opportunities for older re-skilled adults, by providing them with a way to teach from the comfort of their home as a guide. Over 6,000 live sessions have been offered since the site launched in early 2020 with more than 3,200 classes all taught by older adults, many of whom are former teachers.

About one-third of the nation’s aging population experience loneliness and/or social isolation — which puts them at greater risk for serious physical and mental conditions like hypertension, anxiety, depression, and cognitive decline. And GetSetUp combats loneliness and isolation in older adults, by providing a way for them to meet and inspire others on topics for which they have relevant experience and insight, and create a virtual life-long learning community, by minimizing feelings of sadness, loss and depression, and rejuvenate one’s sense of self.

GetSetUp has partnered with several states as well as health plans and systems, care providers, and employers to drive digital adoption, enhance benefits with education and learning, and customize programs for members. And a pilot with the YMCA of Houston is currently underway, making GetSetUp classes available to 30,000 plus Senior members, as well as several state initiatives that will make GetSetUp classes available to millions of older adults.

KEY QUOTES:

“Human connection is essential to a person’s growth, development, and happiness, but it is especially important in older adults, who suffer from loneliness and social isolation more than any other age group. Through peer-to-peer connection, GetSetUp not only helps older adults avoid loneliness and combat social isolation, both which have unfortunately, been exacerbated by COVID-19—especially in any community where traditional social programs have been dramatically altered by the pandemic—but give them a way to make money, while meeting and teaching others.”

— Lawrence Kosick, Co-founder, GetSetUp

“One in seven Americans are age 65 and older, and that number will continue to grow to nearly a quarter of the population by 2060. This is a very large and active group, that is living, working, and contributing to society longer any generation prior. GetSetUp has the potential to provide millions of older adults a way to engage, stay active, rejuvenate and reinvent or reimagine themselves,”

— ReThink Education’s Matt Greenfield

“Through our partnership with GetSetUp, we are providing more than 50,000 adults with a way to connect with peers and learn, at a time when many of their social activities have been either cancelled or severely impacted by COVID-19. To help people feel less alone and give them a sense of belonging is not only one of our core values, but a benefit to the health and well-being of every older adult.”

— John Cardone, Executive Vice President Brand Experience, YMCA of Greater Houston