Polish company LiveKid raises €3.14M from Inovo.vc
Krakow-based platform for managing pre-schools and nurseries LiveKid has raised a €3.14 million funding round led by Inovo.vc, the company told AIN.Capital. The funding will fuel LiveKid’s further expansion in LATAM.
- Founded in 2017 by Jakub Pawelski, LiveKid offers an all-in-one platform for pre-school and nursery management. It provides all the tools needed for smooth kindergarten operations and communication with parents, including billing, staff management, admissions, meal planning, e-journals, bulletin boards, galleries, and reports.
- The solution is also helpful for parents can use mobile app to communicate in live chats, receive updates via photos and videos, and pay for childcare services through the platform.
- According to the company, LiveKid simplifies the lives of more than 400,000 parents, whose children attend over 3,500 kindergarten and nurseries. The company processes annually over €150 million in payments. LiveKid has a team of 70, working from the offices in Kraków, Poland, and Barcelona, Spain.
“LiveKid is a company with very high capital efficiency. They managed to grow to a significant scale with just one funding round. Kuba and his team are close to winning the Polish market, while also being well on their way to replicating their success in Spain and Mexico. Businesses of the vertical SaaS type, once they achieve a dominant position in the market, are very profitable and are able to maintain their position for a long time,”Michał Rokosz, partner at Inovo VC, comments.
- The €3.14 million funding round is the second time the company has raised capital from external investors, following the €2.1 million round in 2021. In summer 2022, the company has also acquired its Spanish competitor Dinantia.
- The recent investment from Inovo.vc, will help accelerate the growth of LiveKid and fulfill its plans for Latin American expansion. LiveKid will open an office in Mexico in 2024, hiring 20 people.
- The company also plans to introduce Portuguese language in the platform (following English, German, Polish, Spanish, and Ukrainian), and expand to Portugal and Brazil.