Kangarootime secures A$38 M investment
Kangarootime, the global child care management software provider, has raised US$26 million, (around A$38 million) in Series B funding to support the next leg of the company’s growth as it continues to enhance product capability and build scale in the United States and its largest overseas market, Australia.
Kangarootime launched its Australian offering in 2020, and has since built up an impressive team led by Managing Director Sharyn Fewster and Product Manager Nick Roots, securing a number of important customers, including Sparrow Early Learning and Giggletree Management Services.
“The last two years have been exciting to say the least – introducing Kangarootime to the Australian market and building a sensational client and luminary partner base has helped us create a product that paces out new ground in the CCMS space,” Ms Fewster said.
“With the Series B capital raise, we are further in a position to not only meet but exceed our sector’s needs in CCMS and educational technologies with the capital raise enabling Kangarootime to further enhance its product offerings.”
Education Growth Partners, a private equity firm dedicated to providing growth capital to proven, high-potential education companies led the funding round with several existing Kangarootime investors, including Cultivation Capital and Rise of the Rest, also participating.
“We have this enormous privilege of serving wonderful, caring people in the early education world. This latest round of investing will enable us to build substantially on our presence in Australia as well as enter the New Zealand and UK markets,” Scott Wayman, Kangarootime CEO shared.
“To know that specialist education investors like Education Growth Partners are now in our corner is a major boost for our organisation and we look forward to working with their passionate team and leveraging their extensive industry and strategic expertise on our growth journey,” he added.
“Multi-site centre management is operationally complex and child care staff are burdened by time-intensive administrative tasks, reducing time with children under their care,” Andy Kaplan, Managing Partner, Education Growth Partners added.
“Kangarootime’s proprietary capabilities provide an all-in-one solution to support those critical unmet needs. We are excited by the opportunity to partner with Kangarootime to achieve greater scale and meet the vital needs of as many child care centres and parents as possible.”