Brightwheel
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Brightwheel was an American software company founded in 2014 by Dave Vasen. It closed operations in 2021. Brightwheel created Saas applications for preschools and day care centers[1] that worked with administration and parent communication.[2][3][4]
| ISIN | 🆔 |
|---|---|
| Industry | Edtech |
| Fate | Reached bankruptcy |
| Founded 📆 | 2014 |
| Founder 👔 | Dave Vasen |
| Defunct | 2021 |
| Headquarters 🏙️ | San Francisco, California |
Area served 🗺️ | |
| Products 📟 | Childcare software |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
History[edit]
In the fall of 2014, founder Dave Vasen launched a pilot software program, called KidCasa, with ten schools.[5] Within a year the software was used by 2,500 schools across the U.S.[6]
Brightwheel’s seed round, which took place in 2015, was led by Eniac Ventures and RRE Ventures and raised 2.2 million. [7]
Shark Tank appearance[edit]
Brightwheel’s founder, Dave Vasen, appeared on Shark Tank Season 7 Episode 26 on April 29, 2016. Vasen went in seeking a $400,000 investment for 4% stake in his company. He accepted a joint offer from Chris Sacca, guest Shark, and Mark Cuban, for $600,000 for 6.67% equity.[8][9] Brightwheel was also featured on Shark Tank Season 9, Episode 16 on January 14, 2018 for an update on the company. The episode shows Vasen securing a deal with Learning Care Group to use the software in their network of schools. [10]
Growth[edit]
In February of 2017 Brightwheel raised $10 million in a Series A round led by GGV Capital along with the Chan Zuckerberg Initiative and Mark Cuban Companies.[11] In October of 2018, the company raised $21 million in a Series B round led by Bessemer. [12] Currently, around 25,000 preschools and early education centers around the globe utilize the Brightwheel software. [13] In a Series C round of funding in February 2021 led by VC firm Addition, Brightwheel raised $55 million, putting its valuation at $600 million. [14][15] During the COVID-19 pandemic, Brightwheel added functions to their app such as distance learning and health checks.[16]
Controversy[edit]
Brightwheel showed up in numerous articles questioning the safety of mobile & online child application software after Brightwheel was found to be vulnerable to many online hackers.[citation needed]
Layoffs and liquidation[edit]
On September 9, 2021 Brightwheel officially filed for bankruptcy after a lack of users during the coronavirus pandemic shutting down major school systems around America and after multiple rounds of layoffs. As of December 15, 2022, the company's website was still live.
References[edit]
- ↑ "Early Education Tech Innovator Brightwheel to Appear on ABC's "Shark Tank" April 29". finance.yahoo.com. Retrieved 2022-08-17.
- ↑ "What Investors See in a 'Highly Fragmented and Under-Teched' Early Childhood Education Market - EdSurge News". EdSurge. 2021-03-11. Retrieved 2022-08-17.
- ↑ "Brightwheel Net Worth 2022 – What Happened After Shark Tank?". Insider Growth. 2021-12-09. Retrieved 2022-08-17.
- ↑ "BrightWheel Shark Tank Update 2022 | SEOAves". 2021-08-19. Retrieved 2022-08-17.
- ↑ Feloni, Richard. "How the founder of a preschool management app cleverly negotiated a $600,000 deal with Mark Cuban and Chris Sacca". Business Insider. Retrieved 2022-08-17.
- ↑ "Brightwheel Acquires MyChild, Targets Early Education With Mobile App - EdSurge News". EdSurge. 2016-11-03. Retrieved 2022-08-17.
- ↑ "Brightwheel Raises $2.2M to Help You Go to Preschool - EdSurge News". EdSurge. 2015-06-17. Retrieved 2022-08-17.
- ↑ "Brightwheel Shark Tank Tale - Shark Tank Tales". sharktanktales.com. 2022-03-31. Retrieved 2022-08-17.
- ↑ Shark Tank - brightwheel full segment, retrieved 2022-08-17
- ↑ Group, Learning Care (2018-01-11). "Learning Care Group Taps Brightwheel to Connect with Parents All Day, Every Day". GlobeNewswire News Room. Retrieved 2022-08-17.
- ↑ "Brightwheel raises $10 million to keep parents in-the-know about their kids' day at school". TechCrunch. Retrieved 2022-08-17.
- ↑ Ventures, Eniac (2018-10-02). "Brightwheel graduates with $21M Series B as the leading software provider in early education". Eniac Ventures. Retrieved 2022-08-17.
- ↑ "What Investors See in a 'Highly Fragmented and Under-Teched' Early Childhood Education Market - EdSurge News". EdSurge. 2021-03-11. Retrieved 2022-08-17.
- ↑ "Brightwheel Raises $55M to Scale the Leading Platform for Early Education". PRWeb. Retrieved 2022-08-17.
- ↑ PYMNTS (2021-02-03). "Brightwheel Early Education Platform Raises $55M". www.pymnts.com. Retrieved 2022-08-17.
- ↑ News, Bloomberg (2021-02-03). "Preschool Software Firm Brightwheel Valued at $600 Million - BNN Bloomberg". BNN. Retrieved 2022-08-17.
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