BonAngels Invests in Babysitting Platform Mom-Sitter

MomSitter

Early-stage venture capital, BonAngels, recently announced its investment (amount undisclosed) in Mom-Sitter, a shared economy platform that connects parents with caregivers who can babysit children.

Mom-Sitter differentiates itself from existing competitors that merely provide individuals’ profiles: it is an open platform that filters individual’s’ credibility and operates an active review system. Mom-Sitter’s business model is a monthly subscription, which lowers the price of the service on a session basis.

Mom-Sitter seeks to solve the societal issues of an increase in working parents and the lack of caregiving facilities. While helping parents find good caregivers, Mom-Sitter also helps job-finders who have equitable knowledge and experience with kids, such as stay-at-home moms, college students and retired teachers, find an opportunity for employment. According to national statistics, 60% of Korean women over the age of 30 experience discontinuation of their career, and over 50% of them state that it is due to having children.

While Mom-Sitter initially targeted college students as caregivers last September, it has since grown rapidly and now has over 17,000 babysitter members and 9,000 parent members.

Similar services exist abroad and are also growing fast. In the U.S., there is Care.com, which provides babysitting and petsitting services.

Mom-Sitter CEO Chung noted: “Mom-Sitter has revolutionized the traditional market for parent-babysitter matching, by moving in-person interviews onto an online open platform. It solves individual needs more efficiently. We plan to use the recently raised funding to grow our caregiver segment in order to help children receive better quality care.”

BonAngels partner Park commented: “Mom-Sitter is a unique service that seeks to solve a fundamental societal issue in Korea: weak child care system. It is a proven business model that adds significant value to society, with continuous growth expected.”

Inspired by: Platum

Image Source: Platum

Based in San Francisco, Lisa enjoys exploring the intersection of technology and social impact. Having lived in over 9 cities throughout her life, she is in constant pursuit of immersing herself in culturally & intellectually diverse environments.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *