Cubspot Closes $530,000 Seed Round
Startup Offers SaaS Marketplace for Parents and Activity Providers
February 1, 2017 | Cubspot Inc., a Boulder-based SaaS marketplace startup that has developed a platform for parents and activity providers, has closed a $530,000 in seed funding from Boulder Bits, a Colorado Front Range startup studio.
Cubspot’s SaaS platform provides a virtual assistant for parents, a one-stop-shop to find, manage and enroll in camps, lessons, tutors and activities for kids K-12. Providers receive a free listing in a UX-forward web app that opens up a new channel for acquisition. The company plans to use the funding to build out the Cubspot functionality and team so they can scale into other major markets across the United States.
The process of finding and booking an activity is simple. Parents join Cubspot, set their families up, and have full access to the marketplace, booking, reviews, calendar integration, readiness reminders, discount enrollment reminders, and activity management. Since launching across the Boulder, Colorado area last October, Cubspot now offers over 4,300 programs to parents, making it the fastest-growing and largest marketplace for kids’ activities in Boulder.
Cubspot is now live for parents and activity providers in the greater-Boulder area and will follow-on with geographically targeted launches, expected mid-2017. In addition to Cubspot’s expansion to other markets, the company is currently enhancing its business model.
The platform addresses an unmet need for 34 million families and their 61 million kids, who attend school for only two-thirds of the year. Finding high-quality camps, lessons, tutoring and activities requires approximately 1 billion hours per child per year (in aggregate) to map out and manage all of their activities. With Cubspot, everything can be accessed and managed in one place, taking minutes versus hours.
Cubspot was founded by Rachael Shayne, CEO, and Mark Healey, CTO. Shayne, a brand, strategy and talent leader, has worked on or within brands such as Procter & Gamble, Nestle, The North Face, Oakley, Alibaba, and Zayo.
Healey brings nearly 20 years of technical and leadership experience in businesses ranging from startups to large finance, government and enterprise. He has left his imprint on some of the world's largest media organizations, including CNNMoney.com, CNBC, E*Trade, Fidelity Investments, Financial Times, New York Times, TD Ameritrade, and the US Navy’s Space and Warfare SysCom.
Cubspot grew out of Shayne and Healey’s personal frustration as parents with the time-consuming research required to find activities, using an outdated combination of analog sources, word-of-mouth and websites.
“We knew there could be a better way to discover options that are really incredible for your kids and a way to book and manage them all,” said Healey. “Cubspot is the answer to managing it all on an a unified digital platform.”
Rachael Shayne, CEO of Cubspot, added: "In a matter of months, we have captured more than 80 percent of Boulder's provider market, a strong validation of our innovative model. We’ve designed our platform, developed our product, created our marketing plan and built our team for scale.”
Cubspot is the industry’s leading dual-sided SaaS platform that empowers parents to make better, faster decisions for their kids’ camps, lessons, tutors, and activities. Cubspot helps the providers of those activities find more customers and process payments quickly. Cubspot is the personal assistant every parent wants but few have access to. Through the application of deep consumer insights and data science, our proprietary marketplace makes life easier for parents, caregivers and service providers who organize and create children’s capacity for heart, head and hand learning. Founded in 2016 and located in Boulder, Colo., the company recently launched a $1.5 million seed round of convertible note financing.
For more information, visit cubspot.com.