Startup raises $5 million to help child care workers go independent
NeighborSchools, a Cambridge, Mass.-based startup that helps early child care workers go independent and open in-home daycares, raised $5 million in new funding led by Accomplice.
Why it matters: America remains in the midst of a child care crisis, largely because of low pay, which creates negative ripples throughout the broader economy.
Other investors include Chelsea Clinton's Metrodora Ventures, Hannah Grey and 186 Ventures.
The bottom line: "Covid rocked the child care industry across the board. We were so early in our growth that we could keep costs down and weathered the first year, and then both sides of the market came back in a big way last summer. One benefit of home daycares is that they're more nimble; we can launch a new daycare in as little as 3 months." — NeighborSchools co-founder and COO Bridget Garsh