Funding

[Funding alert] Krakow-based LiveKid Secures €3.14 Million in Funding

Nov 8, 2023 | By Startup Rise EU

Krakow-based LiveKid secures €3.14 million in funding from Inovo VC. The funding will support LiveKid's ongoing LATAM development, which will involve the construction of a Mexican office and the bolstering of the the company's ties to Poland and Spain.
Team - LiveKid

Krakow-based LiveKid secures €3.14 million in funding from Inovo VC. The funding will support LiveKid's ongoing LATAM development, which will involve the construction of a Mexican office and the bolstering of the the company's ties to Poland and Spain.

The most recent funding from Inovo Venture Capital will aid in quickening LiveKid's expansion. The corporation intends to grow into Latin America in addition to continuing its growth in Europe.

In2024, LiveKid plans to set up an office in Mexico and hire 20 workers. They will work out of the offices in Barcelona, Spain, and Kraków, Poland, as part of the 70-person European team.

Read also - Latvia-based SpirulinaNord Secures €600K in Funding

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The company has raised funds from outside investors twice, the first time being with the €2.1 million fundraising round in 2021 and again with the €3.14 million round. Before then, it had only grown by putting back its earnings.

More than 400,000 parents whose kids attend more than 3,500 kindergartens and nurseries find their lives made simpler with LiveKid. The business handles over €150 million in tuition and other kindergarten services payments a year.

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Poland, Spain, and Mexico are LiveKid's three biggest markets, accounting for nearly €3 million in ARR. While the company's growth has primarily been organic, recent acquisitions in Poland, Canada, and Spain—including the acquisition of Barcelona-based Dinantia—have accelerated it.

Michał Rokosz, partner at Inovo VC, said: “We have known Kuba for several years and have been following his progress practically since the beginning of the company. He is a founder who is truly passionate about the problem being solved. This is evident in every aspect of the company’s operations, particularly in the emphasis on high-quality customer service. LiveKid is also 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.”

Jakub Pawelski, CEO & Founder of LiveKid, added: ”6 years ago LiveKid created a new category of digital services and products for pre-school childcare in Poland. Since then, we’ve grown in a capital-efficient way. This includes making a strong entry into Mexico with limited resources. Now, we aim to be a global leader, and that needs bold steps. The fresh funds will help us hire more people in Mexico, grow in current and new markets, along with the opportunity to consolidate the market.”

About LiveKid

LiveKid is an all-in-one platform for pre-school and nursery management, founded in 2017 by Jakub Pawelski. It offers all the resources required for efficient staff management, billing, meal planning, admissions, and contact with parents for kindergarten operations. These assets include e-journals, bulletin boards, galleries, and reports.

Read also - UK-based Globacap Secures $21Million Series B Round Funding

In terms of managing payments, LiveKid is also quite helpful, whether it is for establishing charge plans, utilising the billing system, or facilitating parent mobile payments.

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