Wonderschool, a San Francisco headquartered network of high-quality in-home daycare and preschools, has raised $2.1 million in funding from non-profit organizations which include Omidyar Network, Be Curious Partners, Rethink Education, Edelweiss partners and Learn Capital.
The funding brings the total funding that Wonderschool has collected over the past year to a whopping $4 million.
The company is planning to use the newly raised funds to expand in New York with the city struggling with huge childcare and preschool shortages as a result of ridiculous tuition rates which are estimated to be the highest in the country.
Right now most of the company’s operations are in the Los Angeles and Bay Area, where they have partnered with about 140 programs in the region. Up until now Wonderschool has only partnered with 16 programs located in the New York City area. With the new funding the company is aiming to expand to 150 programs in the NYC area by the end of 2018.
Wonderschool was developed in 2016 by a group of educators and technologists in California including Chris Bennett and Arrel Grey. The pair discovered a market demand for affordable and high-quality childcare education which arose from unfair compensation rates for childcare educators which resulted in many “stepping down” from their roles.
To tackle the problem they created an online platform from which educators and childcare providers can easily start infant and preschool pograms from the comfort of their home. Additionally, the company provides assistance for educators with licensing, program setup, marketing, payment processing, and much more.
The platform also makes life easier for the parents to search for programs, schedule visits, enroll their children and make payments. Wonderschool makes its revenue by collecting a percentage of the monthly tuition fees charged by educators for each program.