FAN Investors Fund I, LP (FAN Fund) and Florida Funders have completed $1 million investment in PikMyKid, a mobile and web-based platform that simplifies the after-school dismissal and pick-up process.
PikMyKid, based in Tampa, Florida, allows parents to notify school administrators about changes in their child’s pickup times. School administrators use the platform to manage pickup queues and notify parents when their child has been picked up, by whom, and by what method of travel. Prior to PikMyKid, no efficient tracking system for student dismissal status and communication with parents and caregiver existed.
PikMyKid is currently deployed in more than 50 schools in 14 states. In the schools where it is deployed, 80% of parents and caregivers use the platform. Its mobile application has been downloaded more than 60,000 times.
“Our decision to invest was supported by PikMyKid’s expanding user base and the high levels of engagement and customer satisfaction that the solution achieves,” said Mitchel Laskey, managing director of FAN Fund. “We are excited to work with the team on further development of their growth strategy.”
The FAN Fund and Florida Funders co-led the initial closing of the $980,000 round for PikMyKid. PikMyKid will use the investments for continued product development, marketing and customer acquisition and the company plans to add several full-time employees.
“After watching CEO Pat Bhava lead and grow PikMyKid over the last two years, we are thrilled to partner with FAN Fund and provide Pat with the capital necessary to reach his next level of growth,” said Marc Blumenthal, CEO of Florida Funders. “In addition to capital, we’ll continue to provide advice and connections on executing his next steps for growth.”
This investment is the seventh for the FAN Fund since commencing operations on November 1, 2015. In the initial ten months, the FAN Fund deployed $1,850,000 in financing rounds that totaled approximately $8 million.
About FAN Fund:
The FAN Fund invests professionally managed committed angel capital in growth-oriented, seed, and early-stage companies in the technology and life science sectors in Florida. The Fund both lead and participate in syndications with other angels and investment groups, and takes a hands-on approach with its portfolio companies. For additional information please see http://www.thefan.fund.
About Florida Funders:
Florida Funders blends the best of equity crowdfunding, angel investing and venture capital to make investing easier for accredited investors and early-stage capital more accessible to Florida companies. For more information visit http://www.floridafunders.com/
About PikMyKid:
PikMyKid provides a communication portal to simplify student dismissal process in K-12 schools, increasing teacher efficiency & student security while reducing traffic around schools. PikMyKid’s cloud-based software as a service eliminates conventional sticky notes, clipboards, walkie-talkies, and loud hailers reducing confusion and noise while increasing efficiency and security. An engaging application and a hardware agnostic solution, requiring no RFID tags or custom installation, has allowed the company to grow rapidly from two Florida schools in August 2015 to schools in 14 states. For more information please visit http://www.pikmykid.com.
