Malaysia’s on-demand caregiving platform Kiddocare has announced the successful conclusion of its Pre-Series A round.
Kiddocare said in a statement on Wednesday that the round included strategic investments from prominent investors, led by Artem Ventures, with participation from Gobi Partners, MSW Ventures Asia Fund X and ScaleUp Malaysia.
It said that Gobi Partners’ participation via the Khazanah Nasional Bhd-backed Gobi Dana Impak Fund (GDIV) underscores Kiddocare’s pivotal role in creating impact within the Malaysian economy and its promising future.
It also said this investment strategically positions Kiddocare for accelerated growth and innovation.
It said the company will leverage these resources to expand its platform, reach a wider audience, and create fresh opportunities for women, not only in caregiving but also across a multitude of sectors.
“Central to our mission is the professionalization of caregivers. In an industry that often lacks recognition, we are committed to setting new standards,” said Kiddocare Founder and Chief Executive Officer Nadira Yusoff.
“Through innovative technology, necessary training and certification, career paths and social safety nets, Kiddocare ensures that caregivers are equipped with the skills, knowledge and support necessary to provide top-tier care,
“This investment reinforces our resolve to elevate caregiving as a respected and professionalized career of choice,” he added.
Founded in 2019, Kiddocare is a homegrown childcare services platform that connects parents with verified childcare providers based on their preferences for time and location.
The firm was initially formed as an initiative to create an ecosystem to support working parents by giving them the gift of freedom and time by connecting them with babysitters to care for their children.
It is also Kiddocare’s aim to empower women who want to pursue childcare as a career or to generate extra income, by providing a platform for them to do so.
According to Kiddocare, these caregivers undergo rigorous screening and training, adhering to the firm’s stringent protocols before joining the platform.
To ensure utmost safety, a dedicated customer service team manages each booking, providing real-time updates.
Kiddocare also simplifies the booking process through its user-friendly app, currently serving the Greater Klang Valley and expanding its reach to regions like Seremban and Johor Bahru, with nationwide expansion plans in the pipeline.
The platform primarily caters to urban millennial mothers, who wield substantial purchasing power and seek reliable childcare solutions.
Artem Ventures Managing Partner Low Zhen Hui said that the firm recognized Kiddocare’s potential to magnify the care economy by empowering women to become highly skilled caregivers.
“Through the application of technology, caregivers have more options to not only expand their capabilities and knowledge but also explore new ways to evolve their careers with Kiddocare,
“With our partner FWD Group, we aim to collaborate closely with Kiddocare in further enriching caregivers and enhancing customer experience,” he said
While conventional childcare roles often yield less than MYR 2,000 ($425) per month, Kiddocare offers the potential for weekly earnings of up to MYR 1,500 ($319), affording women the flexibility to navigate motherhood and education.
The Kiddocare Academy further provides opportunities for career advancement through specialized training programs for carers, such as counselling, eldercare, tutoring and entrepreneurship.
Gobi Partners Managing Partner (Malaysia) Jamaludin Bujang said that the firm has been monitoring Kiddocare’s progress for several years, and it believes the current momentum warrants its investment.
“While we recognize that managing the gig industry poses challenges, as it is inherently subject to leakages and low stickiness, we think that Kiddocare’s operating model is defensible,
“As such, we believe it is poised to make a significant economic impact on the country. We’re confident the team’s ability to reach this ambitious goal,” he said.
GDIV is part of Khazanah’s Future Malaysia Programme (FMP), an initiative under the sovereign wealth fund’s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem.
“Acquisiting childcare services is a stressful, high-involvement parenting process, the triumvirate factors of quality, availability and consistency underwrite the decision-making process,” said MSW Ventures Asia Fund X General Partner Jeffrey Seah.
According to him, Kiddocare has significantly reduced those parenting insecurities through their focus on quality – market-leading training programs, qualification-based service standards set by industry experts and building up a caregiver base motivated to constantly upgrade skills and service delivery.
He also noted that the team has injected trust into a family care service acquisition platform built on the logistical reach of the gig economy.
Meanwhile, ScaleUp Malaysia Senior Partner and Co-founder Dr. Sivapalan Vivekarajah said that the firm invested with Kiddocare in 2020, amidst the global crisis, recognizing the untapped potential in the care economy.
“We’re thrilled to see Kiddocare evolve into a catalyst for economic growth and women’s empowerment. We’re committed to fueling this transformative journey,” he said.
Malaysian preventive healthcare provider DrPrevents aims to secure $870,000 via ECF