|SEASON 7 EPISODE 26|
|Pitch||Childcare management app|
|Asked For||$400,000 for 4%|
|Deal||$600,000 at $9 million valuation|
|Shark||Chris Sacca and Mark Cuban|
What is Brightwheel?
Brightwheel is the childcare management app that allows childcare providers to manage their business while sending parents updates on their children throughout the day.
Since its development, Brightwheel has been used by preschools, day cares, nursery schools, and camps that range in size from a few to hundreds of children.
The childcare management software allows you to track attendance and room ratios, share photos and videos, assess learning milestones, communicate with parents, send paperless invoices and payments, and manage staff.
The Brightwheel Premium service is available at an additional monthly fee and includes the Brightwheel Basic plan plus student & staff check-in, room ratios, videos, messaging & calendars, unlimited staff, unlimited students, and access to email, chat and phone support.
San Francisco-based entrepreneur, Dave Vasen, founded Brightwheel in 2014 when it was still the preschool management service called KidCasa.
He spent a year in development and rebranding before relaunching Brightwheel in 2015 after raising $2.2 million from a series of investors.
What Happened After Shark Tank Update
Did Brightwheel Get a Deal on Shark Tank
In Season 7 Episode 26 of Shark Tank, Brightwheel accepted an offer from Chris Sacca and Mark cuban, of $600,000 for 6.66%.
Brightwheel has since grown to become the leading platform for early education and childcare management and the #1 software solution for preschools, child care, daycare, camps, and after school programs.
How Much is Brightwheel Worth?
In February 2017, Brightwheel raised $10 million during their Series A funding round which included Mark Cuban Companies and Lowercase Capital – the investment firm headed by guest-shark, Chris Sacca.
In October 2018, the company raised an additional $21 million in Series B funding from a number of prominent investors including the Chan Zuckerberg Initiative – the capital management group founded by Facebook’s Mark Zuckerberg and his wife Priscilla Chan.
In February 2021, Brightwheel went through another round of investments where they raised $55 million, bringing the company to a $600 million valuation.
How Does Brightwheel Make Money
To make the app affordable to low income areas, Brightwheel makes money through a freemium model. Anyone can use their basic plan which includes attendance, daily reports, photos, teacher & parent apps, invoicing & bill payment and only 1 staff member, up to 20 students and access to their online help center. Its perfect for those looking for free daycare software.
Brightwheel, is one of many daycare apps for android and iOS and can be found on the App Store and Google Play where it has a 4.4+ rating over thousands of reviews.