LOS ANGELES--(BUSINESS WIRE)--LA-based tech company WeeCare — the largest childcare network in America — has raised $12 million in Series A fundraising to scale childcare benefits for the evolving future of work.
This latest raise, led by M13, with participation from Gopher Asset Management and existing investors Equal Ventures and Fika Ventures, brings the startup’s total investment to $22.3 million. In addition to expanding its childcare benefits program, funds will be used to continue to build the company’s caregiver network and improve its platform to raise the bar for the growing number of families using WeeCare.
WeeCare, with its network of tens of thousands of childcare providers, is scaling its childcare benefits program quickly to meet the increasing demand — more than 42 percent of employers are looking to add a childcare benefit in 2022. The program makes it possible for every employer to offer childcare benefits to their working families and support employees at all income levels.
“To put it simply, childcare benefits are a win-win-win for employers, working families, and childcare providers,” explained WeeCare CEO and Co-Founder, Jessica Chang. “Employers see an immediate return-on-investment in productivity, families are relieved of the impossible burden of juggling work and childcare, and more families having access to care means more childcare providers are able to keep their doors open.”
“For decades, traditional childcare benefits were too expensive to be accessible to 90 percent of the workforce, essentially pricing out the majority of working families,” said Anna Barber, Partner at M13. “WeeCare is well-positioned to benefit from two important trends: the recognition on the part of employers that childcare benefits are essential, and the growth of the independent childcare sector. We’re excited to be working with WeeCare to build the future of childcare that works for all working families.”
WeeCare, whose mission is to provide all families with access to quality, affordable childcare, believes its Childcare Benefits program is key to the future of work.
WeeCare has been featured in TechCrunch, TIME, PBS NewsHour, NPR, USA TODAY, and The Wall Street Journal, to name a few. The Los Angeles-founded tech company has been named a 2022 “Top Startup to Watch” by Built In and was named a Forbes “Next 1000” company.
WeeCare was founded in 2017 and has become a leader in the childcare technology and childcare benefits spaces, building the largest network of childcare providers in the United States. The company is making strides in solving the childcare crisis by providing employers and families access to affordable, high-quality childcare while supporting childcare providers in operating sustainable businesses through a technology-based marketplace.