A Tampa education technology startup has received a seven-figure investment from Silicon Valley-based Growth Street Partners.
PikMyKid, which helps streamline the school dismissal process, announced the investment Thursday. It declined to provide further financial details. With the latest investment, the company has raised over $10 million.
"Partnering with Growth Street to help accelerate adoption, expand our team and grow our technology platform was a no-brainer," Saravana Pat Bhava, CEO and co-founder of PikMyKid, said in a statement. "Growth Street has a proven track record of helping companies just like us. In Growth Street, we see a passionate team who cares deeply about our mission and is aligned with our company's core values."
Officials from Growth Street will have a seat on PikMyKid's board of directors, along with the company's co-founders and fellow investment firm DeepWork Capital.
The funding will be used to help growth at every level, including upping hiring, investing in its product and expanding market presence.
PikMyKid marketing analyst Heather Hobden told the Tampa Bay Business Journal the company is up 75% year over year in business and on a hiring spree. It expects to be at 25 employees at the end of the year, with another 25 working remotely across the world. To adjust to the hiring influx, the company recently relocated to a new headquarters in the Westshore district.
This is the latest win in the Tampa Bay edtech scene, which has early-stage companies hitting a point of inflection. Fellow Tampa edtech company Script was acquired in late April for an undisclosed amount, while Tampa-based Knack continues to rack up national partnerships.
"[Our acquisition] is finally highlighting what we've already known: That we have a whole lot of great companies that are poised for great exits," Script co-founder Aaron White said in a previous interview. "And I think this year will surprise us. Tampa Bay will position itself as a leader of cranking up startups that I believe can change the world."
