Brightwheel is a childcare management app. Brightwheel is used to send updates of children to their parents and about their doings throughout the day. The app lets one track attendance and room ratios, share photos and videos, assess learning milestones, communicate with parents, send paperless invoices and payments, and manage staff.
To get some additional benefits of the app, one can upgrade from Brightwheel Basic to Brightwheel Premium service with an additional monthly fee. Brightwheel is used by preschools, nursery schools, daycares, and camps.
Bright Wheel at a glance:-
|Idea||Childcare business application|
|Asked For||$400,000 for 4 % equity|
|Accepted Deal||$600,000 for 6.66% each|
|Sharks||Chris Sacca and Mark Cuban|
|Business status||In Business|
|Episode No||Season 7, Episode 26|
Who is the founder of Bright Wheel?
Dave Vasen, an entrepreneur from San Francisco, found Brightwheel in 2014. At the time, it was still a preschool management system named KidCasa. He raised $2.2 million from various investors, after taking a year off for the development of the app and launched the app again in 2015.
Did Bright Wheel get a deal on Shark Tank?
Brightwheel appeared on Shark Tank in season 7 episode 26. Dave explained to the sharks about his company and impressed the sharks. He asked for an investment of $400,000 for 4% equity of the company.
All the sharks were out except Chris Sacca and Mark Cuban. They offered a combined deal of $600,000 for 6.66% each. The deal was accepted by Brightwheel, looking at a great future.
What happened to Bright Wheel after Shark Tank?
After appearing on Shark Tank, Brightwheel initiated a Series A funding campaign in February 2017, where Brightwheel raised $10 million from Mark Cuban Companies and Chris Sacca’s investment firm, Lowercase Capital. In October 2018, in Series B of the campaign, Brightwheel raised $21 million from a management group named Chan Zuckerberg Initiative, founded by Mark Zuckerberg and his wife, Priscilla Chan.
In February 2021, Brightwheel raised $55 million through Series C of an investment campaign. This brought the company’s valuation to $600 million.
Competitors of Bright Wheel
The companies competing with Brightwheel’s success are:-
What is the net worth of Bright Wheel?
At the time of the shark tank appearance, Bright Wheel was valued at around $9 million. As of February 2021, Brightwheel has a valuation of around $600 million.
Is Bright Wheel still in business?
Yes, Brightwheel is still in business and shining bright just like its name and it is safe to say that Brightwheel will do great in the future as well.
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What is Bright Wheel?
Brightwheel is a childcare management app. Brightwheel is used to send updates of children to their parents and about their doings throughout the day.
Who founded Bright Wheel?
Dave Vasen, an entrepreneur from San Francisco, found Brightwheel in 2014. At the time, it was still a preschool management system named KidCasa.