Latest news with #TrueVentures
Los Angeles Times
4 days ago
- Business
- Los Angeles Times
On-Demand Childcare Marketplace Bumo Raises $10 Million Seed Round
Bumo, an on-demand childcare marketplace, raised $10 million in seed funding led by True Ventures and Offline Ventures with participation from Goodwater Capital and Marketplace Capital. Angel investors Jennifer Carolan, influencer Rachel Barnes, actress Jamie Chung, Ellen Chen, Karina Kruse and Vanessa Dew also contributed. The company was originally founded in 2019 by entrepreneurs Joan Nguyen and Chriselle Lim from their personal struggles as working mothers in search of flexible, high-quality childcare solutions. Its origins include a physical co-working space with on-site childcare, but the company adapted during the pandemic to create a virtual learning platform called BumoBrain to address urgent childcare needs. It then expanded in 2024 with an on-demand childcare marketplace, offering instant booking capabilities and eliminating subscription fees to fulfill the increasing need for accessible and flexible childcare options. 'Our goal is to establish Bumo as the leading infrastructure for flexible childcare,' said Joan Nguyen, co-founder and chief executive of Bumo, in a statement. 'We want Bumo to be as integral to family life as Airbnb, Uber and Instacart are in their respective fields. This funding empowers us to scale our operations and broaden our reach into new markets.' The company is currently operating in nearly 200 cities spanning from Orange County through Los Angeles to the Bay Area. It has facilitated nearly half a million hours of childcare services booked. The platform offers 17,000 searchable programs and now camps for school-age children, catering to children aged 0-17. 'When we met Joan, we saw a rare combination of vision, operational excellence and deep empathy for parents,' said Tony Conrad, partner at True Ventures, in a statement. Information for this article was sourced from Bumo.
Business Insider
07-07-2025
- Business
- Business Insider
A new app helps busy parents book last-minute childcare. Here's the pitch deck that raised $10 million — with another $10 million seed funding round coming up.
Modern life makes it easy to order late-night cars home, book spontaneous vacation rentals, and get lightning-fast takeout. But getting childcare on short notice? For many that's still a pipe dream. Joan Nguyen founded Bumo, an app that allows parents to book empty slots at local childcare centers, after starting two childcare ventures during the pandemic. From working with parents, Nguyen said she realized that they often needed what she calls "fractional childcare," such as when their nanny called in sick or something pressing came up at work. "As a parent, I also felt the pain of not being able to get childcare when you absolutely needed it," Nguyen told Business Insider. "Why is it easier for me to find a dog walker than it is to find a sitter or a nanny?" Launched in 2024 after raising $10 million, the Bumo app was co-founded by Nguyen and Chriselle Lim. It's a continuation of a joint co-working and childcare center they launched in late 2019, followed by BumoBrain, an online learning platform they created at the height of the pandemic to help working parents. This week, Bumo is preparing to announce a $10 million seed funding round, led by venture capital firms Offline Ventures and True Ventures, Bumo shared exclusively with Business Insider. The app, which has about 10,000 users and offers services in 200 locations within 13 states, works similarly to Airbnb. Parents can filter and sift through childcare options from drop-in daycares to summer camps, some of them offering same-day availability. Nguyen said Bumo also fits in with the consumer demand "to want things instantly," now accustomed to quick bookings and deliveries. Meanwhile, "you see childcare as this kind of monolithic thing that hasn't really changed a lot," she said. Filling a gap in childcare demands Bumo aims to offer more convenience and fill a gap in the US childcare system. Parents are more isolated than they have been in generations, not always being able to rely on family members to help them. Many also can't afford full-time daycare, but still need some part-time childcare options. To ensure safety, Nguyen said every service listed on Bumo is licensed by their respective state and has a "digital footprint" including past reviews. Bumo staff also interviews with each facility at least once a year (sometimes virtually depending on the provider's location) to make sure that they're up-to-date on background checks and that all staff have proper certifications. Nguyen said that Bumo only uses original photography and videos for each facility instead of stock photos. Parents can also upload photos in their reviews. Bumo's next step is to keep expanding in other cities; right now, Los Angeles has the highest number of childcare offerings on the app. The goal is to increase Bumo's density in San Francisco and to introduce its service in New York City. Read the 16-page pitch deck Bumo used to secure $10 million. Bumo opens with a positive press quote. Bumo Introducing the founding team and each member's accomplishments. Bumo The slide features the team members' experience levels, follower counts, and press mentions. It defines the app and what makes it stand out. Bumo It addresses the core childcare problems working parents face. Bumo It then shows how childcare providers benefit from the app. It highlights the practicality of the app: childcare providers have empty slots they want to fill, incentivizing them to use Bumo. The next slide demonstrates how simple the app is to use. Bumo The deck emphasizes lower costs. Another slide sums up the key benefits for everyone. Bumo The deck then transitions into Bumo's accomplishments. Bumo Bumo It addresses how many families currently use Bumo, the number of providers, and the social media reach. It also shows investors the opportunities for growth. Another slide highlights Bumo's commitment to digital outreach. Bumo The presentation winds down by zooming out on the market. Bumo It illustrates how big the childcare market is. It draws comparisons to other successful apps. Bumo The second-to-last slide shows Bumo's projected growth. It includes other methods of revenue and its target numbers for childcare service expansion.
Business Wire
11-06-2025
- Business
- Business Wire
Bolo AI is Building the Operating System for Heavy Industries With an $8.1 Million Seed Round
PALO ALTO, Calif.--(BUSINESS WIRE)--Bolo AI, an enterprise AI company building intelligent tools for the people powering heavy industry, today announced an $8.1 million Seed round led by True Ventures, with participation from Benchstrength, Accomplice, J Ventures, and Beat Ventures. Bolo AI is the AI system of action for heavy industries, a $20 trillion sector that's long been overlooked by modern software. It unlocks the knowledge buried across procedures, documents, and legacy systems so teams can act quickly, safely, and with confidence. The result: reduced downtime, improved safety margins, and smarter, faster operations across the industrial value chain. Bolo AI was co-founded by Diti Sood and Dr. Lalit Jain. Sood began her career as a field engineer with SLB, the world's largest oilfield services company. She spent five years working on oil and gas field sites across the UAE and Qatar, often in extreme conditions — and was the first woman in her district to take on rig and offshore jobs. At times on the job with few accommodations, she slept in her truck between shifts. 'I've handled radioactive tools and explosives, worked 24-hour shifts and longer in 120°F heat, and relied on outdated manuals and siloed systems to make critical decisions,' said Sood, CEO and co-founder of Bolo AI. 'That gave me deep respect for the people doing this work — and a front-row seat to envisioning tools and products to enable them to make the best decisions every single time no matter the challenges facing them. Bolo brings AI into the daily flow of work — helping technical and frontline teams make faster, more confident decisions in operations, maintenance, engineering, safety, project management and more...' After earning her MBA from Harvard Business School, Sood led go-to-market strategy for enterprise AI products. Jain, co-founder of Bolo AI, is a machine learning expert with more than 15 years of experience building applied AI systems across cybersecurity, finance, and automation — bringing deep technical grounding to Bolo's platform. 'Diti and Lalit are building the infrastructure to make critical operations in heavy industries more intelligent and efficient with AI,' said Helen Min, venture partner at True Ventures. "The founding team has the unique talent, technical ability, and required customer empathy to transform an industry previously very underserved by technology." Bolo AI counts a Fortune 500 industrial firm and the largest oil refinery in the U.S. as early partners collaborating on both a strategic pilot program and proof of concept. With Seed funding, Bolo AI will grow its engineering and go-to-market teams, deepen integrations with enterprise systems, and accelerate deployments across energy, utility, and industrial operations. About Bolo AI Bolo AI is the daily AI system of action for the people who operate the world's infrastructure — in the field, plant, or office. By unlocking knowledge buried across documents, procedures, and legacy systems, Bolo helps industrial teams act quickly, work safely, and drive better outcomes. The company is headquartered in Palo Alto, with an engineering hub in Bangalore, India.
Yahoo
30-04-2025
- Business
- Yahoo
AI Companion Pallie AI Raises $2 Million to Reduce Loneliness and Improve Wellbeing
Round led by True Ventures; Company Founded by PhD Researchers SAN FRANCISCO, April 30, 2025 /PRNewswire/ -- Pallie AI, a technology company developing an AI-powered companion supporting health and wellbeing, today announced it has raised $2 million in pre-seed funding led by Silicon Valley venture capital firm True Ventures, with participation from the health-tech investor Palta known for backing the unicorn Flo. The funding will accelerate the development of Pallie's AI companion, who acts as a friend, confidant, and wellness coach providing users with their Apple Health data analysis and personalized wellness support in their favorite messaging app. Pallie's technology combines AI with an empathic, highly personalized, human-like interaction to address two critical challenges in modern society: loneliness and unhealthy lifestyle behaviors. Pallie engages with users like a good friend to provide social and emotional support through natural conversation. It further delivers personalized health recommendations — informed by advanced AI algorithms and Apple Health data — designed to boost the user's motivation for wellbeing. In the fourth quarter of 2024, a Gallup report found the rate of loneliness among U.S. adults to be on the rise again at 20% after a temporary downward trend following the COVID-19 pandemic. Global reports on loneliness from the pandemic pointed even higher. The Gallup report cites social wellbeing specifically as a key factor in reducing feelings of loneliness. To combat loneliness, Pallie seamlessly integrates into users' daily lives through existing messaging platforms, requiring no additional app downloads or sign-ups. "Pallie is a pro at maintaining engaging, natural conversations that foster genuine connection and a sense that someone's looking out for your best interests," commented Ivan Zolotukhin, CEO and founder of Pallie. "Pallie is powered by advanced AI agents designed not just to assist, but to connect. Unlike most AIs, which can feel robotic, Pallie is so natural and relatable that users chat with it for hours about movies, books, and memorable meals — just like they would with a friend." Pallie's features include a growing collection of long-term wellbeing programs that help users increase physical activity, improve sleep quality, connect with new people, and make better nutrition choices. Its guidance becomes progressively intelligent through discovery and interpretation of patterns in user's health data, while also gaining a deeper understanding of the user through contextual awareness of their daily life — incorporating calendared events, relevant news, weather, and local spots of interest aligned with their wellbeing goals and preferences. "We've long been captivated by the future of human-computer interfaces, and we are certain that AI will become an even more ambient presence in our lives in the very near future," said Jon Callaghan, co-founder at True Ventures. "When we met Ivan and his team at Pallie, we were amazed by their creation and how effortlessly their personalized agents integrated into the daily routines of their users. Experiencing it offers a glimpse into the future — Pallie exemplifies the incredible potential of AI to adapt to human behavior (in this case, by texting) and deliver meaningful value. We are thrilled to partner with Pallie to support their vision of the future of AI in our daily lives." "Our team of PhD researchers, top-tier data scientists, and health industry veterans has created something truly unique," added Zolotukhin. "Imagine having the world's most intelligent AI right by your side constantly thinking about you — one that truly gets you and is there for life's daily challenges. That's what we've created with Pallie. It's not just about tracking health metrics; it's about having a supportive presence that nudges you toward better choices, celebrates your wins, and offers a steadying hand during tough times — all while keeping safety and privacy at the core." The funding will be used to enhance the AI's capabilities, expand its range of wellness programs, and scale the platform to reach more users globally. Start talking with Pallie and explore its capabilities in beta, no app download required. About Pallie AI Pallie AI, a product from AI Companions, Inc., is an AI friend and health buddy focused on supporting emotional and social wellbeing. Led by PhD researchers and esteemed data scientists, Pallie is both a friend and health coach that communicates naturally with its users through popular messaging platforms while leveraging Apple Health data for personalized guidance. Pallie AI's mission is to combat loneliness and promote healthier lifestyles through accessible, intelligent, and empathetic AI interaction. Learn more athttps:// About True Ventures Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $3.8 billion under management, True provides pre-seed, seed, and Series A financing to founders in some of today's fastest growing markets. To learn more, View original content to download multimedia: SOURCE AI Companions, Inc.
Associated Press
30-04-2025
- Business
- Associated Press
AI Companion Pallie AI Raises $2 Million to Reduce Loneliness and Improve Wellbeing
Round led by True Ventures; Company Founded by PhD Researchers SAN FRANCISCO, April 30, 2025 /PRNewswire/ -- Pallie AI, a technology company developing an AI-powered companion supporting health and wellbeing, today announced it has raised $2 million in pre-seed funding led by Silicon Valley venture capital firm True Ventures, with participation from the health-tech investor Palta known for backing the unicorn Flo. The funding will accelerate the development of Pallie's AI companion, who acts as a friend, confidant, and wellness coach providing users with their Apple Health data analysis and personalized wellness support in their favorite messaging app. Pallie's technology combines AI with an empathic, highly personalized, human-like interaction to address two critical challenges in modern society: loneliness and unhealthy lifestyle behaviors. Pallie engages with users like a good friend to provide social and emotional support through natural conversation. It further delivers personalized health recommendations — informed by advanced AI algorithms and Apple Health data — designed to boost the user's motivation for wellbeing. In the fourth quarter of 2024, a Gallup report found the rate of loneliness among U.S. adults to be on the rise again at 20% after a temporary downward trend following the COVID-19 pandemic. Global reports on loneliness from the pandemic pointed even higher. The Gallup report cites social wellbeing specifically as a key factor in reducing feelings of loneliness. To combat loneliness, Pallie seamlessly integrates into users' daily lives through existing messaging platforms, requiring no additional app downloads or sign-ups. 'Pallie is a pro at maintaining engaging, natural conversations that foster genuine connection and a sense that someone's looking out for your best interests,' commented Ivan Zolotukhin, CEO and founder of Pallie. 'Pallie is powered by advanced AI agents designed not just to assist, but to connect. Unlike most AIs, which can feel robotic, Pallie is so natural and relatable that users chat with it for hours about movies, books, and memorable meals — just like they would with a friend.' Pallie's features include a growing collection of long-term wellbeing programs that help users increase physical activity, improve sleep quality, connect with new people, and make better nutrition choices. Its guidance becomes progressively intelligent through discovery and interpretation of patterns in user's health data, while also gaining a deeper understanding of the user through contextual awareness of their daily life — incorporating calendared events, relevant news, weather, and local spots of interest aligned with their wellbeing goals and preferences. 'We've long been captivated by the future of human-computer interfaces, and we are certain that AI will become an even more ambient presence in our lives in the very near future,' said Jon Callaghan, co-founder at True Ventures. 'When we met Ivan and his team at Pallie, we were amazed by their creation and how effortlessly their personalized agents integrated into the daily routines of their users. Experiencing it offers a glimpse into the future — Pallie exemplifies the incredible potential of AI to adapt to human behavior (in this case, by texting) and deliver meaningful value. We are thrilled to partner with Pallie to support their vision of the future of AI in our daily lives.' 'Our team of PhD researchers, top-tier data scientists, and health industry veterans has created something truly unique,' added Zolotukhin. 'Imagine having the world's most intelligent AI right by your side constantly thinking about you — one that truly gets you and is there for life's daily challenges. That's what we've created with Pallie. It's not just about tracking health metrics; it's about having a supportive presence that nudges you toward better choices, celebrates your wins, and offers a steadying hand during tough times — all while keeping safety and privacy at the core.' The funding will be used to enhance the AI's capabilities, expand its range of wellness programs, and scale the platform to reach more users globally. Start talking with Pallie and explore its capabilities in beta, no app download required. About Pallie AI Pallie AI, a product from AI Companions, Inc., is an AI friend and health buddy focused on supporting emotional and social wellbeing. Led by PhD researchers and esteemed data scientists, Pallie is both a friend and health coach that communicates naturally with its users through popular messaging platforms while leveraging Apple Health data for personalized guidance. Pallie AI's mission is to combat loneliness and promote healthier lifestyles through accessible, intelligent, and empathetic AI interaction. Learn more at About True Ventures Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $3.8 billion under management, True provides pre-seed, seed, and Series A financing to founders in some of today's fastest growing markets. To learn more, visit View original content to download multimedia: SOURCE AI Companions, Inc.
