Startup Kangarootime has recently secured seed funding from big backers such as Mucker Capital, Tech Coast Angels, and Skyview Ventures. The amount of seed funding Kangarootime has received has not yet been publicly disclosed.
Scott Wayman, founder and CEO, of the startup Kangarootime is a Graduate from the Los Angeles Founder Institute. He has said that the new company intends to use the seed funding they have received to accelerate their growth into new school organizations in the United States and abroad.
So what does Kangarootime do so well that has garnered the interest of major backers in a seed-funding round? Kangarootime is cloud-based software solution for early learning centers and schools. However, the tool doesn't just work for schools and learning centers, but it also works for parents and teachers, and ultimately the kids.
Kangarootime's suite of products allows learning centers and schools to completely digitize their operations. Administrators can manage employees and compliance issues, deal with and improve staffing oversight, and it allows for automation of revenue and collections. This is just on the administration side of the benefits. Kangarootime allows parents to digitally check their children in and out of school or daycare. The software suite allows parents and teachers to message one another, share photos, and complete all necessary student paperwork that needs attention. Parents will love that they can pay their child's tuition fees through Kangarootime's platform easily from anywhere in the world.
Kangarootime is focused on making the lives of parents and caretakers easier than ever before. The software suite is so comprehensive and well-thought because founder and CEO of Kangarootime Scott Wayman has personal experience with schools and learning centers in a way most people without any children don't.
Over ten years ago, Scott's parents both died. As a result, his ten-year old brother was entrusted to his care. At the time he was a young working professional in Orange County. As a result of his adoption of his little brother and taking him to and from schools and daycare facilities, he realized that the system was under served in the digital world, and there was opportunity. Scott saw that as the digital revolution swept the rest of the world and most industries up in new and more efficient processes the education and childcare sector was left behind. In his pitch at Vator Splash LA, Wayman said:
I learned that this was a very underserved market, and what we called a 'centrifuge of chaos'. The revenue cycle is inherently broken. A school could have 500 different students at 500 different rates.”
Kangarootime was founded just over three years ago, and they have already won at the highly attended Vator Splash, which Airbnb won only a few years prior. According to Wayman, Kangarootime can automate over 100 hours of labor. Saving that much time in an industry that is hectic to begin with is why Kangarootime has made such a big splash in the tech world.
Currently, over 80 percent of early childcare facilities are still using paper records. There is a lot of market potential for Kangarootime to expand. With the successes of Kangarootime's seed funding that just concluded, the company has eyes on expanding their service offerings to other facilities in applications within the same vein as childcare and schools such as day-camps and elder care facilities. Most of these facilities still rely on paper and hours of work that can be automated by Kangarootime.
Kangarootime has a wide-open market in front of them with very little competition, and with the funding they just received they are aiming to take their unique services abroad and expand their service to elder care and day-camps.
