Upwards

Upwards, which does business under the legal name WeeCare Inc., operates a technology platform that matches families with local childcare providers, including daycare centers, preschools, nannies and babysitters. The consumer-facing marketplace lets families filter caregivers by criteria such as price, location and the ages accepted, while providers list their services and can indicate whether they accept subsidies. The platform structure has been compared in press coverage to listing marketplaces such as HomeAdvisor and Airbnb.

Beyond matching, Upwards focuses on affordability: it helps families assess eligibility for government childcare financial assistance, and in some cases contributes to a portion of childcare costs. It also sells childcare benefits to employers and builds programs with government agencies. A dedicated military program provides covered childcare for eligible U.S. Army Reserve and National Guard families during battle assemblies, annual training, drill weekends and emergency deployments, with Care Managers handling enrollment and a mobile app used for caregiver communication, tour scheduling and provider enrollment; the assistance program is available in selected states, while matchmaking is offered nationwide.

The company describes a four-sided ecosystem of families, caregivers, employers and governments, and says it uses a data-driven approach to expand the supply and capacity of the care system.

Founding story

Jessica Chang, Jesse Forrest and Matt Reilly founded the company in 2017 to address gaps in the childcare system; Chang has framed the problem as billions in public and private childcare funding coexisting with hundreds of millions of families unable to find quality, affordable care or fully participate in the workforce.

Business model

Upwards brings together four constituencies — families, care providers, employers and government agencies — on one platform. Families are matched with vetted, licensed providers; providers gain access to families and administrative support; employers purchase childcare and eldercare benefits for their workforces; and governments run subsidized care programs through the platform. Care is made affordable through government subsidies, workplace benefits and, in some cases, Upwards covering part of the cost.

Employer and government partners contract with Upwards to provide care benefits and subsidized care programs for their employees and community families; providers list services on the marketplace and Upwards facilitates subsidy-funded and benefit-funded placements.

Traction

The company reports more than 3 million families supported and employer partnerships spanning over 520 companies. Total capital raised reached $43.3 million as of the February 2024 Series B. Recognition includes ranking #292 on the Inc. 5000 list of fastest-growing companies, Inc. Best Workplaces 2023, the Forbes Next 1000 list, and Benefits Pro Luminaries 2023 for industry impact.

Latest developments

In February 2024 Upwards announced a $21 million financing led by Alpha Edison with participation from existing investors M13 and Fika Ventures, to be used for expansion of its platform and caregiver network and for improving the experience of families, caregivers and employer and government partners. Alpha Edison managing partner Nate Redmond joined the board, which also includes M13 investing partner Anna Barber. Reported partnerships include Chobani expanding child care and elder care benefits, a Dollywood childcare benefit, and a New Mexico National Guard drill childcare program.