Currently, the Bengaluru-based company is serving over 500 partners which include schools, vocational institutions, and e-Learning platforms, with an aim to increase partner base to more than 1000 in the next 12 months.
Parentof, a parent-tech startup, has secured $1 million in a seed funding round led by V Srinivas and other existing investors. With this, the total funding raised by the Bengaluru-based company stands at $2 million.
The fresh capital will be used by the startup to further evolve its technology and expand its partner network.
Swaroop Madhavan, Founder and CEO, Parentof, said “With the new funding in place, we are piloting a system, which can help parents discover and engage with experts and services (pediatricians, psychologists, hobby classes, sports coaching, etc.) based on the unique growth needs of their child. This, paired with our recent acquisition of Pupilpod - an education management platform from Value Point Group, will help in enhancing the ARC engine’s capabilities and make AI personalised for every child.”
Parentof was founded by Swaroop Madhavan, Dr. Manohar Chikkanna, and Dhananjay Prabhu in August 2015. It is a decision sciences organization that offers insights into child growth and decision analytics.
The startup uses artificial intelligence for its ARC Engine (analysis, recommendation, and curation) platform, which has impacted over 2 Lakh children and is supported by more than 500 schools.
Parentof is targeting to help a million parents across India by 2020. Currently, the company claims to have a revenue of $500K, and aims to reach $1.5 million in revenue in 2020.
The company is serving over 500 partners which include schools, vocational institutions, and e-Learning platforms. It aims to increase partner base to more than 1000 in the next 12 months.
“We are working towards increasing our partner base to over 1,000 in the next 12 months. Interestingly, we have been able to run successful O2O models building a great experience for partners and parents alike. Especially considering how parenting decision is being fuelled extensively by online reviews and expert opinions, we are one of the few startups focused on creating a new system to sustain healthy parenting e-habits,” Swaroop added.