HiMama Secures C$70 Million Growth Investment Led By Bain Capital Double Impact
Funding will Accelerate Development of a Full-Suite of Engagement, Content and Administrative Tools to Enhance Early Childhood Education
TORONTO and BOSTON, Nov. 18, 2021 /CNW/ -- To empower early childhood educators and parents with affordable tools that improve educational outcomes, childcare center software solutions provider HiMama, today announced that it has secured C$70 million in funding led by Bain Capital Double Impact. The Series B minority investment, which includes participation from existing investors Round13 Capital and BDC Capital's Women in Technology Venture Fund, will enable HiMama to serve additional childcare centers in Canada and the U.S., fuel further investments in product development and offer a foundation for opportunistic growth by acquisition.
Founded in Toronto in 2013 by CEO Ron Spreeuwenberg and CTO Alana Frome, HiMama provides childcare centers with tools to more efficiently manage staff and class scheduling, tuition billing and payments, and classroom learning activities while engaging parents to drive better educational outcomes for young children. The Company's products are used in over 10,000 childcare centers across Canada and the U.S., and their software has enabled essential communication with more than one million parents of children enrolled in care.
"The last twenty months have further reinforced that early childhood education is critical to life-long development and has accentuated the need for digital coordination and open lines of communication between educators and parents. Bain Capital Double Impact shares our vision to become the leading provider of software and content for early childhood education," said Spreeuwenberg. "This investment will fuel our growth and help us meaningfully increase our impact on early childhood educators, parents and children." The funding builds on HiMama's June 2021 acquisition of FunShine Express, to offer comprehensive curriculum and activity planning.
HiMama is a Certified B Corporation, meeting the highest standards of transparency and accountability in using business as a means of delivering positive social change. With over 50,000 reviews and an average 4.9 rating in the Canada and U.S. App Store, HiMama is the most reviewed and highest rated software for childcare centers in North America.
"Ron and Alana have built HiMama with a differentiated mission to bring educators and parents together to drive better educational outcomes for children both in and out of the classroom. This approach can transform the early childhood edtech space with holistic tools for childcare providers by addressing center management as well as quality content solutions to drive a more tailored learning experience that engages students and families," said Iain Ware, a Managing Director at Bain Capital Double Impact. "We look forward to partnering with Ron and the team to expand their suite of early childhood education solutions and broaden their reach across Canada and the U.S."
Bain Capital has deep experience investing in and helping to scale a wide range of innovative businesses founded in Canada including Canada Goose, Dollarama and Bombardier Recreational Products as well as leading payments companies such as Finix, Flywire, Nets and Worldpay. HiMama also continues Bain Capital Double Impact's mission to fuel the impact and growth of companies in the education and workforce development space, which has led to successful investments in Penn Foster, PresenceLearning and TeachTown.
About HiMama
HiMama makes it easy for child care directors and owners to empower their educators, delight their parents, improve learning outcomes for children, and grow their business. HiMama has been adopted and adored by thousands of childcare centers globally, and to date, has captured more than a billion moments for parents while saving early childhood educators more than 8 million hours of pesky paperwork. HiMama is proudly a social purpose business focused on connecting families and educators to improve developmental outcomes for children aged zero to five. For more information, visit www.himama.com.
About Bain Capital Double Impact
Bain Capital Double Impact is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact leverages deep industry experience and an active, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact partners with companies across three themes – health & wellness, education & workforce development, and sustainability to create long-term value and meaningful social impact at scale. For more information, visit www.baincapitaldoubleimpact.com.
SOURCE HiMama
Edward de Sciora, Stanton, (646) 502-3538, [email protected]
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