This article was published in the Spring 2019 edition of Silicon Slopes Magazine.
By Karmel Larson, Founder/CEO, Momni
Majestic, mighty, matriarchal elephants circle up when there is danger. If you are fortunate enough to observe them in the wild, you’ll quickly notice their nurturing instincts that calls them to care for one another and for their young. When you see a group or herd of elephants, you are most likely seeing the adult mamas, aunties, matriarch grandmas, teens, and child elephants. When there is danger lurking or any need to be on guard (encroaching hyenas or lions, a wounded calf, a birthing mother or a dying elephant) the others will circle and protect. These females have discovered the power of supporting each other.
Linking All Moms, Everywhere For Caresharing
As a female founder I have also discovered the power of circling up for support. Omni is Latin for “all and everywhere.” Momni seeks to link together all moms everywhere, with a vision of empowering moms to help one another find solutions for care through the power of technology and the new sharing economy of “caresharing.” Either as a Momni user or as a Momni host, moms are able to link together for paid playdates in the convenience of their own homes and with the flexibility necessary for busy moms and parents.
With the aid of filters, ratings, reviews, references, and background checks, parents are able to quickly and simply find immediate care solutions with qualified and exceptional Momnis. Simultaneously, Momni helps mothers to obtain family-friendly, flexible, and instant income from home. Moms are able to set their own price, set their own hours and adjust either at any time as needed.
A Circle of Support To Get Momni Funded
Having launched this tech startup two years ago in March 2017, I quickly became aware the odds were stacked against me to get funded. Among other statistics that loomed large was this one: only 2.2% of venture funding went to women in 2018. I’m not one to be deterred, however, and so I focused on surrounding myself with a great team comprised of trusted mentors, entrepreneurs, and advisors.
We made headlines in December 2018, securing that all-elusive seed round and bringing our total investment to over $2M. I could have never achieved that mega milestone without the circled up support of the Silicon Slopes community, especially StartUp Ignition, Braid, Women's’ Tech Council, VentureCapital.org, RevRoad (the Provo-based venture services firm), Tamarak Capital and many angel investors who mentored and made introductions for me.
With this new infusion of funds, we are accelerating our efforts and vision to elevate the standard for raising children. Currently there is a global childcare crisis recognized in almost every nation of the world. In addition to this current plight, the UN predicts that over the next decade one billion women will enter the workforce, causing the current crisis to become a global epidemic of lack of care.
Care Crisis Economics Affect Corporations Bottom Line
The alarming stats about the global childcare crisis are not a mom or parent issue alone. Care crisis economics affect the bottom line of corporations. $4.4B of revenue was lost last year to worker lost productivity caused by childcare challenges and 72% of the workforce cite care issues as decreasing their work capacity, with 67% taking sick days as a best possible solution.
The solution of caresharing, extra income, trusted child care, and unmatched convenience of Momni are why we are already starting to gain traction with corporate groups. A sponsored Momni program can be a huge help to parents who need affordable, flexible childcare for their busy lives. For less than you think, you can help provide cutting-edge childcare for your employees' families. So, we are inviting the leadership of the Silicon Slopes community to circle up with Momni and add caresharing to your arsenal of perks offered via your benefits packages. Give your team what they really want: the flexibility to manage work and family, with a solution that helps take care of what matters most to them.