Nanno Investor Update - August/September
Liz from Nanno here, checking in from the front lines of the childcare revolution with an update on Nanno’s progress in cracking the code on on-demand childcare.
Quote of the Month:
"Your app definitely serves a need. I'm probably your target demographic (based off the millennials becoming parents part) and all the other apps are a pain to use. They don't instill confidence and seem clunky. I used this app and got a sitter the same day who was extremely friendly and kept in touch with us at regular intervals to reassure us and was just fantastic."
By the Numbers:
MoM Parent Growth: 105%
MoM Caregiver Growth: 16%
MoM GMV Growth: 55%
MoM Bookings Growth: 51%
Roses (Our Wins for the Month):
On August 22, we completed the 500 Startups accelerator program with a wonderfully successful Demo Day. (You can check out our pitch here.)
On August 15, we launched our new caregiver onboarding flow and have already seen onboarding completion rates nearly double.
In the past 30 days, we’ve closed contracts to supply caregivers for on-site childcare at several events, including the Birdsall Conference on Women (Washington, DC) featuring Dr. Emily Oster, author of Cribsheet (one of my personal favorite parenting books).
On September 13, we were selected as the official childcare partner for myVIPlife.com, planners of high-end parties at hotels.
Buds (Our Goals for Next Month):
Roll out initial / MVP version of “superpowers” feature.
Increase caregiver capacity in core markets.
Focus on closing more employer-sponsored childcare contracts.
Increase operational efficiencies in caregiver onboarding.
Thorns (What We’re Struggling With):
We’ve experienced a tremendous amount of growth in the past few months, and our small team is frankly struggling to keep up with it. We are working on several projects to improve operational efficiency on the caregiver onboarding side, and plan to enlist additional contract help while we are working to develop and deploy our long-term strategy to ensure good user experiences as we scale.
Asks (How You Can Help):
In the employee benefits world, “open enrollment” season is upon us, and we are working to capitalize on that by promoting our employer-sponsored backup care package to small and midsized companies seeking to provide an affordable benefit to their employees. We’d love your help in spreading the word. More information on our backup care options can be found here.
Update on Republic Campaign:
Just a quick note to let you know that we'll be removing the $50 investment option at the end of this week. We originally included that option to make sure caregivers on the Nanno platform would be able to invest. Now that they've had the opportunity (and so many lovely caregivers HAVE invested -- thank you!), we are going to raise the minimum to $100, which is more standard for the Republic platform. If you are interested in investing at $50, please do it before Friday!