Childcare company G8 Education has purchased a 20% stake in Brisbane-based on-demand babysitting app Kiddo for a total consideration of $1 million.
The investment was made in November 2021 through a share subscription agreement.
Launched three years ago, Kiddo offers a mobile platform connecting and matching parents with carers to provide in-home care for their children. The app screens caregivers by requesting a working with children check and ID, and allows parents to book a babysitter with as little as two hours’ notice. It currently has around 12,000 users.
G8 Education owns more than 470 childcare centres across Australia and its backing will help Kiddo scale up in Queensland, Victoria and New South Wales and accelerate its rollout in other states and territories.
The investment in Kiddo follows the acquisition of specialised care provider Leor, bought by G8 Education in September 2021.
“Given the evolving external environment, we recognise we need to broaden our activities, in a measured fashion, to progress our ongoing journey,” G8 Education said in a statement. “These considerations strongly contributed to our decisions to acquire Leor and to become a strategic investor in Kiddo.
“While both Leor and Kiddo extend the capabilities and convenience of our offering, they also offer a unique and attractive opportunity to improve the employment proposition for G8 Education.”
Date published: 31 March 2022