The image of how a successful American family with children lives has been engrained over decades by relentless marketing and Hollywood glamorization.
The go-to image usually revolves around a lovely home. But of course, there are also lavish-yet-balanced family meals, and a lifestyle complete with vacations, birthday parties, extended family visits, soccer teams, music lessons the list goes on, and on, and on.
While the so-called American Dream has its allure, maintaining it all tends to be exhausting. And although tech startups have long churned out productivity tools for the workforce, families dont have a lot of dedicated offerings tailored to their needs.
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Increasingly, startup entrepreneurs and investors are addressing this gap as part of a burgeoning sector that goes by the catchphrase famtech. Think digital tools to manage household responsibilities, track what the kids are doing, find care and even free up a little personal time.
Oftentimes, founders are building the kinds of tools and apps they wished they had.
I feel that an impossible thing is being asked from the modern family these days, said , founder and CEO of , a -backed startup offering a service to help families outsource or streamline more of their routine tasks and projects.
As a parent of four and former CTO, Matsuoka speaks from experience about the time-pressed lifestyle of juggling a full-schedule family life and a demanding career. Particularly for those who dont have a large local support network, she believes dedicated tech can go a long way toward alleviating everyday stresses.
A big, wide-open space
Looking at recent funding tallies, famtech does look like a growing space. For a sense of where the money is going, we used 蹤獲弝け data to put together a sample list of 25 U.S. companies that raised funding in roughly the past year.
Its a varied lot, spanning from transportation to care-finding platforms to tools for keeping up with to-do lists. Its also a pretty well-funded one, with list members collectively pulling in over $600 million to date.
Probably the most recognized brand in our sample is , a Los Angeles-based startup that provides vetted drivers to give kids rides to school and activities. The 8-year-old startup has raised around $124 million in funding to date, including a $37 million Series D in September.
, a provider of organic meals and snacks for babies and toddlers, was another top funding recipient, with $99 million in known funding since its founding a decade ago. While its a bit blurry whether Yumi qualifies as famtech, we included it because of the companys focus on saving time with online meal planning and direct shipping.
Among earlier-stage companies, meanwhile, one climbing the funding ranks quickly is New York-based . The 2-year-old startup, which matches parents who need child care with caregivers in their communities, has raised $30.8 million to date, with and as lead backers.
Startup investors are also carving out famtech as a focus area. Among them is , a Santa Monica firm that invests in women-led consumer technology startups and lists parenting tech as a key vertical. In a recent, famtech-focused , the firm concluded that solving childcare is the biggest untapped business opportunity in 2022 coming out of COVID.
It takes a tech-enabled village
Despite high demand from parents for life-simplifying options, building a market for family tech might entail changing some of our conceptions about how and where to get help.
Yohanas Matsuoko points to the old proverb about how it takes a village to raise a child. While theres truth to that, theres also the stark reality that many working parents have little to no family support network nearby, let alone a village to share responsibilities for child care and chores.
For some families, Matsuoko said, a more feasible option is to pay for services to help tackle day-to-day duties, such as setting doctors appointments, hiring a plumber, or making birthday party arrangements. Thats the premise behind her startup, Yohana, which will launch nationwide later this year with a subscription service aimed at freeing up parents time.
Families may also need to adjust to the idea of adding another device or two to their lives. Thats the case , CEO and founder of , is hoping to make for her connected device startup, which sells a wristband for toddlers that tracks location and wellness, as well as a paired app.
Her inspiration, Plath said, is the notion that even when parents arent with their children, they still spend an inordinate amount of time worrying about their well-being. I was just trying to worry a little bit less, she said.
At the end of the day, it seems what famtech entrepreneurs are selling more than anything else is a tech-centric path to what everyone wants: a little more free time and a lot less worrying.
As the market matures, well get a better sense of the two great unknowns: Whether startup-driven technology can deliver those things and, if so, whether consumers will be willing to pay for them.
Illustration: Dom Guzman
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