Lightbank has led a $1.2 million investment into BabbaCo. SV Angel also collaborated. BabbaCo is a baby products company.
BabbaCo, Inc., announced today they have closed their first outside investment lead by Lightbank in collaboration with SV Angel, the investment firm located in Silicon Valley and founded by angel investors, Ron Conway and David Lee.
Created by Founder and CEO, Jessica Kim, BabbaCo develops simple, functional products to make parents’ lives easier while engaging children in an educational way. BabbaCo’s latest product, the BabbaBox, was created to address the overwhelming demand for new products by existing customers.
Kim started her entrepreneurial path as the teenage founder of Jessica’s Wonders, an upbeat brand of premium baked goods. She founded the company out of her dorm room and raised $1 million in start-up capital from angel investors. Jessica’s Wonders quickly grew to three outsourced manufacturers, thirteen employees, and full distribution launch in the largest chain of supermarkets in New England. Within two years, Jessica’s Wonders grew to $3 million in sales.
“It’s been an exciting process to watch all the pieces come together with this project, and mostly, to see Lightbank and SV Angel’s incredible support of my vision,” said Kim. “In addition to this investment helping to drive our rapid growth and demand, the funding will also lend a major hand in further expanding our offerings to make it simple to feel like a great parent, our ultimate goal at BabbaCo.”
BabbaBox is a monthly subscription box that combines all the physical materials with the know-how content to really engage kids. It helps parents create, explore, story-tell and teach in an interactive and enriching way.
BabbaCo is one of the first collaborative investments between Lightbank and SV Angel.
“We’re excited to have the opportunity to work more closely with Jessica and the Lightbank team in building BabbaCo,” said David Lee. “Lightbank’s hands-on operational involvement and Jessica’s passion in this space are sure to produce another winner in Chicago.”
“What struck me was how authentic Jessica was in her desire to create a compelling solution for busy parents,” commented Paul Lee, Partner at Lightbank. “Obviously, Ron saw the same drive, and we’re thrilled about working with him to help BabbaCo achieve its mission”
About BabbaCo, Inc.
Founded in 2007 and backed by LIghtbank and SV Angel, BabbaCo, Inc. is a premier baby products company that creates innovative parenting solutions that are “simple, functional, and super cute.” Founded by a mother of two and serial entrepreneur, Jessica Kim, BabbaCo represents the latest know-how, trends, and innovation.
About SV Angel
Founded by angel investors, Ron Conway and David Lee, SV Angel provides capital investments to early stage companies focused on the Internet, e-commerce, and information technology markets. SV Angel is a venture fund, which has raised investment from external investors or limited partners in industry parlance.
Lightbank is an investment fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who started Groupon, MediaBank, InnerWorkings (NASDAQ:INWK) and Echo Global Logistics (NASDAQ:ECHO), Lightbank invests money, time and expertise to help innovative businesses achieve dynamic growth. For more information, visit http://www.lightbank.com.Related