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Pearachute

Pearachute

[Closed for Investment] You manage your appointments, your babysitters, your deliveries, even your groceries, on your phone. Why can’t you manage your children’s activities there too? The family activity industry is out of touch with today’s parents, and it’s time it caught up.

Pearachute is here to help that happen. Pearachute is an app and platform that enables parents and caregivers to discover, book, and drop into the best kids classes and activities in the cities they live. Gone now are the days of paying for ten classes but only being able to attend three. Pearachute lets you drop in on single classes and sign up on days you know you can attend. Parents can choose from three, six, or unlimited class subscriptions each month, and activities range from arts and crafts to soccer and swimming. They’ve got something for everyone!

And so far, Pearachute is parachuting onto the scene with confidence and success. Not only are they helping parents, but they’re also fueling local businesses. To date, they work with over 850 partner companies, and over $700,000 has gone back to those local businesses through their partnership. Additionally, Pearachute has experienced a 20% month-over-month user growth, a 60% reduction in user churn since January, and a profit margin that averages 24-45% across all products and markets.

After all, American families spend $32 billion each year on kids’ activities, and $100 billion annually for family activities. When you think about the fact that there are 75 million millennials out there who are about to have 75 million babies -- and you realize that 78% of those parents prefer to spend money on experiences instead of things -- you realize that the market for Pearachute is quite large, and quite lucrative.

To top it off, Pearachute’s backers include Techstars Ventures, OKCupid founders, and HotelTonight -- all who are tech-and-millennial-savvy. They know Pearachute is the future of kids’ activities for millennial parents. This company is changing the way families share, discover, learn, and play…. and it’s all for the better, and all for today’s techie world.

“Who Should Be Interested in This Offer:”
Are you a parent who loves activities for your child but hates the hassle of signing up for them? Or, are you a local business that offers family activities and wants to find a way to connect with more clients? If you said yes, then Pearachute might be the pear-fect investment for you. With the mission of bringing families closer together while supporting local businesses, Pearachute is a platform you can feel good about investing in...while benefiting largely from it.

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Investment Overview

Raised this Round: Raised: $72,355

Deal Terms

Total Commitments ($USD)

Platform
Republic
Start Date
10/31/2017
Close Date
12/31/2017
Min. Goal
$25,000
Max. Goal
$287,000
Min. Investment

$25

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$15,000,000

Discount

10%

Company & Team

Company

Year Founded
2015
Industry
Education, Training, & Coaching
Tech Sector
Location
Chicago, Illinois
Company Website
Visit Website

Team

Employees
7

Financials

Financials are not currently available for this company. This may occur if the company is still Testing the Waters, is a Regulation D offering, or if the financials are still under review and being confirmed by our team. For Reg CF and Reg A+ raises, please check back later.

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
12/31/2017 Republic $15,000,000 $72,355 SAFE Funded RegCF
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Pearachute on Republic
Platform: Republic
Security Type: SAFE
Valuation: $15,000,000

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Warning: according to the close date for this deal, Pearachute may no longer be accepting investments.

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