Kinside announced this week that it has received three million in funding from Initialized Capital and will take its company public in the near future. Other investors include Jane VC, Kairos, and Precusor Ventures. The company began just six months ago, with initial founders Brittney Barrett, Abe Han, and Shadiah Sigala.
For American parents childcare is becoming one of the biggest expenses behind a mortgage and car payments. It is now estimated that over four billion dollars per year is lost in worker productivity because of childcare issues. It is also considered one of the biggest problems in worker retention rates as well. A new startup, Kinside, is going to help parents and caregivers, as well as their bosses, in this area with a platform that can find the right childcare provider for specific children and that will also use advanced algorithms to discover the best childcare benefits available to employees.
Currently the United States is the only country in the industrialized world that does not offer automatic childcare to workers in factories, offices, warehouses, and the Armed Services. Companies like Kinside therefore fill a very vital need in providing parents with the opportunity to bring in much needed income while being assured their children are being properly taken care of and participating in early childhood education.