Pearachute
New way to help your child discover and explore activities that best fit your family’s schedule.
| Date | Investors | Amount | Round |
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| - | investor investor investor | €0.0 | round |
| investor investor investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | $1.2m | Early VC | |
| Total Funding | 000k | ||
Pearachute was a digital marketplace designed to simplify how parents discover and book children's activities. The company was founded in 2016 by Desiree Vargas Wrigley, a serial entrepreneur who previously co-founded the crowdfunding platform GiveForward. The inspiration for Pearachute came from Vargas Wrigley's own experiences as a mother of two young boys, facing the challenge of finding flexible and varied activities without the burden of long-term, costly commitments.
The platform operated on a subscription-based model, offering parents access to a wide array of kids' classes and activities from various local providers. This allowed families the flexibility to drop into different activities like swimming, art, or sports, catering to a child's changing interests and accommodating unpredictable schedules. Revenue was generated through monthly subscriptions, with plans typically offering a set number of classes or unlimited access for a flat fee. Pearachute would then pay its partner businesses a discounted rate for each child that attended a class, creating a revenue stream for these local providers and helping them fill open spots.
Appearing on an episode of "Shark Tank," Vargas Wrigley secured a deal with investor Mark Cuban, although the deal later fell through. Despite this, the company went on to raise over $4 million in funding from various venture capital firms and expanded its operations to multiple cities across the United States. During the COVID-19 pandemic, Pearachute pivoted its model to include virtual experiences to adapt to the changing landscape. However, the company ultimately ceased operations in June 2022.
Keywords: children's activities, kids' classes, family activities, subscription service, activity marketplace, parent resources, local kids events, flexible class booking, Desiree Vargas Wrigley, Shark Tank, GiveForward, Chicago startup, venture capital, kids entertainment, family scheduling, child development, recreational classes, activity discovery platform, mompreneur, virtual kids classes