What is Onward Solutions?
Onward Solutions offers a digital platform designed to streamline the tracking and management of shared child-related expenses for co-parents. The application facilitates expense logging, reimbursement processes, and budgeting, aiming to provide users with clarity on their financial obligations. The service targets divorced and separated parents seeking to reduce financial friction and enhance their time with their children. Despite its utility, the app is scheduled for discontinuation.
How much funding has Onward Solutions raised?
Onward Solutions has raised a total of $9.7M across 1 funding round:
Series A
$9.7M
Series A (2022): $9.7M with participation from Lerer Hippeau Ventures, City Ventures, TTV Capital, Correlation Ventures, and Gingerbread Capital
Key Investors in Onward Solutions
Lerer Hippeau Ventures
Lerer Hippeau is a venture capital firm focused on investing in innovative startups, particularly in the early stages such as Seed and Pre-Seed rounds. They aim to support founders with great ideas who are willing to tackle challenging problems, fostering long-term success through their expertise as former operators. The firm invests across both enterprise and consumer landscapes, embodying a community spirit reminiscent of New York's audacity and resilience. Their portfolio reflects a commitment to redefining and creating new industry categories.
City Ventures
City+Ventures is a premier investment and development company in the market. The company works to maximize the benefits of the investments for everyone involved: tenants and residents, employees, the communities in which we operate, financial partners, and the ownership team. City+Ventures is headquartered out of Omaha, NE.
TTV Capital
TTV Capital invests in fintech businesses that serve the widely varying needs of the financial services sector and the consumers of financial products. The company's team of experienced technology and financial services professionals has more than 100 years of venture capital and highly relevant industry operating expertise acquired across three decades and multiple economic cycles. The company creates value for entrepreneurs and investors by using the company's knowledge, experience and relationships to help businesses grow and succeed.
What's next for Onward Solutions?
The recent major enterprise-level funding and strategic investment indicate a phase of scaling and operational expansion for Onward Solutions. However, given the company's announced shutdown date of October 8th, 2024, this funding likely represents a final push or a transition phase rather than a typical growth trajectory. The strategic capital may have been allocated towards winding down operations, fulfilling existing obligations, or potentially facilitating an acquisition or asset transfer. The future strategic direction will be dictated by the company's imminent closure.
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