BabyQuip, a baby gear rental marketplace, has raised $3.4 million in funding. The investors include How Women Invest and Thorney Investment Group.
Santa Fe, New Mexico (April 26, 2022) – BabyQuip, the #1 baby gear rental marketplace, today announced it has closed $3.4 million in new funding. BabyQuip delivers clean, insured, and quality equipment to families on-the-go in over 900 locations in the U.S., Canada and beyond. This latest seed round includes How Women Invest, Thorney Investment Group (an investor in prior rounds), and individual investors through the crowd-funding platform, SeedInvest, among others.
The funding will accelerate international expansion plans, including capturing key travel markets in Mexico and the Caribbean, new hospitality partnerships, and expanding its network of independent contractors, called Quality Providers. BabyQuip will also use the capital to fuel product and technology innovation, including a mobile app for customers, expansion into new services, and improvements to its robust proprietary technology platform.
Launched in 2016, BabyQuip is the only national marketplace for baby gear rentals and has far outpaced its competitors, mostly regional and mom ‘n pop companies. Founded by Fran Maier, a co-founder of Match and founder of TrustArc (formerly TRUSTe), BabyQuip gives families access to trusted baby gear through the popular sharing economy model. The platform is powered by its Quality Providers (mostly moms) who use their own inventory to build, launch, and grow their baby gear rental businesses, leveraging the proprietary platform, and drawing on BabyQuip’s branding and marketing expertise. BabyQuip now has over 1000 Quality Providers and continues to expand its Quality Provider community during a time when many businesses are struggling to add and keep their workforce.