Funds of $10 Million Secured for Innovation in Early Childhood Education and Care
Bumo, an innovative on-demand child care marketplace, has secured $10 million in seed funding, paving the way for significant expansion and growth. The funding round was led by True Ventures and Offline Ventures, with participation from Goodwater Capital and Marketplace Capital, and additional backing from angel investors.
The new capital will be used to expand Bumo's operations into new cities, enhance its platform, and grow the team. Tony Conrad, Partner at True Ventures, believes that Bumo's approach has the potential to reshape the $70 billion dollar child care industry, much like how Airbnb and Uber have transformed their respective industries.
Co-founded by entrepreneurs Joan Nguyen and Chriselle Lim in 2019, Bumo currently operates in 200 locations across 13 states, serving over 10,000 users. The platform offers parents the convenience of booking last-minute child care services, such as drop-in daycares and summer camps, with some providers offering same-day availability.
Bumo has facilitated almost half a million hours of child care services with over 17,000 searchable programs. The company partners with organisations such as Learning Care Group, Boys & Girls Club of Metro Los Angeles, FC Barcelona, FC Bayern Munich, and Drawn2Art to offer a diverse range of unique programs and camps.
In 2024, Bumo introduced a tech-driven, on-demand childcare marketplace that offers instant bookings and eliminates subscription fees. Initially, Bumo was a physical co-working space with on-site child care, but it adapted during the pandemic by launching BumoBrain, a virtual learning platform.
Offline Ventures sees Bumo's approach as a category-defining shift in the child care industry. Brit Morin, Founding Partner at Offline Ventures, is thrilled to back Joan and her team at Bumo as they lead this transformation. The funding received will empower Bumo to scale its operations and broaden its reach into new markets.
Bumo aims to become the leading infrastructure for flexible child care, as integral to family life as Airbnb, Uber, and Instacart are in their respective fields. With a projected 15-fold growth by 2025, Bumo is poised to revolutionize the child care industry and provide parents with a seamless, book-now experience, similar to ordering groceries or hailing a ride.
The new funding will be utilized to expand Bumo's operations, explore advancements in technology, and offer education-and-self-development opportunities through partnerships with various organizations. With the anticipated growth, Bumo aspires to join the ranks of market-disrupting businesses like Airbnb, Uber, and Instacart, establishing a significant presence in the $70 billion dollar child care industry.
