Kidcaboo, an innovative ridesharing platform for children, recently closed a significant Series A funding round on June 24, 2023, marking an exciting new chapter in the company’s growth story. The funding stage is classified as Early Stage Venture with a pre-money valuation at $15 million.
Founded in 2019, Kidcaboo is a private company based in the United States with a workforce of 11 employees. The firm’s platform is designed to help parents schedule rides for their children, complete with a screened and safety-checked driver. This service comes with a one-off fare estimate for the trip and a live GPS tracker, providing parents with peace of mind and a sense of order.
The latest funding round isn’t Kidcaboo’s first experience with external investment. The company previously raised funds through an equity crowdfunding round in August 2022. The Series A funding round indicates a clear progression in Kidcaboo’s fundraising strategy, shifting from crowdfunding to venture capital, while continuing to generate revenue.
The Series A funding round saw participation from an angel group, She’s Independent. This investment firm, founded in 2019 and based in Denver, Colorado, provides both financial support and professional training and coaching services to the companies they invest in. She’s Independent typically maintains an active status and has a portfolio of three investments, including Kidcaboo.
The details of the financial commitments in the Series A round and the strategies Kidcaboo intends to adopt with the funds haven’t been disclosed at the time of this article. However, the support from She’s Independent, coupled with the company’s pre-money valuation, suggests promising developments for Kidcaboo’s future.
Kidcaboo’s recent funding success signifies a new stage in the company’s journey, and the world eagerly awaits to see the innovative strides this child-focused rideshare platform will take in the coming years.
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