Kango, developer of the California-based rideshare and childcare app for kids, announced a Series A funding round valued at $3.6 million. It looks like the company is aiming to expand with this effort, making its services as conveniently widespread as Uber and Lyft.
This news comes only four years after Kango launched in 2015, and highlights the firm’s rapid business momentum and incredible market demand. Currently, the rideshare providers are in a state of positive unit economics, where every trip scheduled through its service is profitable.
What are Kango and Child Rideshare Apps?
When considering the benefits Kango’s ride-sharing app provides, it’s not too hard to imagine why business is booming. From shuttling kids between school and practices to watching them afterward until their parents get off work, arranging dependable childcare has never been more convenient.
Perhaps most importantly, the service is trustworthy and reliable. Every Kango driver is a Trustline certified caregiver and undergoes pre-employment criminal background checks. Knowing a caregiver has received this clearance helps give parents who are scrambling for a trusted babysitter peace of mind.
For those not within Kango’s range, other child rideshare apps are available, like Zūm and HopSkipDrive. All three of these companies work alongside local school districts to enhance the quality of service during pickups.
Overall, Kango offers customers the broadest range of services. Compared to other active rideshare apps, it’s the only one in the nation insured to transport children of any age. Furthermore, none of the other companies have zero cutoff times on booking rides, or the capability to provide on-demand service.
What truly sets Kango apart from the rest, though, are the limitless childcare services it offers outside of the car. Independent childcare is also available through the app. This function makes Kango as much a babysitting service as it is a transportation provider.
Kango’s Continued Growth
National Express, a group that supplies public transport throughout the U.K., partnered with Kango to lead their upcoming funding round.
The company secured these investments after it demonstrated profitable stability and steady growth, making it a relatively safe bet. But then again, it appears Kango likes to take things safe and slow in general.
Even though they are a California tech company, Kango has made steadier advancements than most of their Silicon Valley counterparts. As a business whose services involve children, this more cautious yet progressive development makes sense. Moreover, the startup has yielded excellent results so far.
Plus, with the funds the company is raising now with National Express, it seems like only a matter of time before the business grows.
As Sara Schaer, the co-founder and CEO of Kango, stated, “…[w]e’re proud that our track record of responsibility and reliability has fueled our family-first mission. We are excited that this funding, along with our strategic partnership with National Express, will help us expand that to help even more people[.]”