London-based Hoop, a family app for millennial parents, has secured 2.4 million in funding. BGF Ventures was the lead investor.
London, 27th September 2017
Hoop, the family app that helps parents discover and book what’s on for their kids, has secured £2.4 million in funding which will help to grow the business across the country and begin to focus on revenue growth. BGF Ventures, the UK-focused fund, is the lead investor. Other investors include ustwo the company behind Monument Valley.
Before Hoop, there was no easy way to find comprehensive information on children’s events, activities and classes. Parents and carers had to check a variety of online listings, noticeboards and council websites, while looking out for posters and flyers in public places like coffee shops and libraries.
Hoop helps families discover fun things they’ll love to do in just a few taps. Through personalised lists of events and classes, Hoop identifies those activities best suited for children based upon their age, location and interests. From local baby and toddler groups and family concerts to drama classes and creative workshops, Hoop makes it easy to uncover and book fun things going on for families.
Launched in 2016 in London, Hoop has rapidly expanded this year to cover the whole of Britain, now listing more than 50,000 different activities each month. With 600,000 parents using the app, businesses that run activities for children have a digital marketing platform to reach new customers. Hoop taps into the multi-billion pound market for family activities and was founded by the entrepreneurs behind VoucherCodes, Europe’s largest coupon business, acquired by a US voucher business in 2011.
This summer Hoop introduced its organiser platform, allowing activity providers to manage their presence and take bookings on the app. More than 4,000 family organisers have signed up to the platform so far. Hoop takes a 10% commission of all bookings that are made through the app.
The app responds to the needs of a new generation of parents that manage their life on a smartphone. Daniel Bower, co-founder of Hoop, said: “Parents want to find interesting, fun and affordable things their kids will love to do. Until now it’s been easy to miss great things happening locally because there’s no easy way to uncover new events and activities. Hoop solves this problem.“We believe that the influence of smartphones on modern families is going to increase significantly in the next few years as more Millennials become parents for the first time. This new generation of parents blend technology seamlessly into their lives and are confident using apps to manage their day to day life. They have grown up using Deliveroo, Uber and WhatsApp to organise their lives, and want to manage their family time in the same way, expecting information to be accessible at a moment’s notice.”
The average age of a first time mum in the UK is just over 30 and since new parents are older they often have more money to spend on activities and hobbies. Anecdotal evidence suggests that Millennial parents value experiences and activities more than accumulating items. That is reflected in the increasing number of new and interesting experiences that are being listed on Hoop, like the Family Bollywood session in Bristol, a robot programming workshop in Liverpool and Junior Jam’s african drumming and singing session in Manchester.
Harry Briggs, partner at BGF Ventures, said: “Hoop is far and away the best mobile app for solving the age-old question of “What shall we do with the children that’s fun, interesting and doesn’t break the bank?”. Hoop are one of those rare teams who not only have the talent and focus to build a revolutionary product, but also are on a mission to make family time more rewarding on a global scale. We’re incredibly excited to be joining them on that journey.”
Hoop was picked by Apple as one of their ‘Top 10 apps of 2016’
The app is aimed at parents with children 11yrs and under
Hoop takes privacy very seriously: users will be asked only for their postcode (to find activities close to home) and also the age, rather than the date of birth, of their children
Users can search for activities by location and age
Hoop gives information on the age the event is designed for, price, booking details, travel times and more
Filters help users sort activities by time, distance from home and age
Users can easily share an event listing with friends at a touch as well as book events
About Hoop: Hoop is the family app that helps parents find and book fun activities for their children, whatever their age. Launched in London in 2016, Hoop is rapidly expanding across the country with over 600,000 users and 50,000 different activities each month. The app was picked as one of Apple’s Top 10 apps in 2016 and was started by the entrepreneurs behind VoucherCodes.
About BGF Ventures: BGF Ventures is the UK’s largest ever venture capital company dedicated to earlier stage UK technology companies, with £200m to invest. Launched in September 2015, BGF Ventures is run by a dedicated team led by Harry Briggs, Simon Calver, Rory Stirling and Wendy Tan White. BGF Ventures’ investments include Marvel, Gousto, Aimbrain and Toucan Box. BGF Ventures is part of BGF, the UK’s most active provider of growth capital to small and mid-sized businesses across a range of sectors. More at www.bgfventures.com and @BGFVentures.