- Britt Riley is the cofounder of the Haven Assortment, a daycare community with sources for fogeys.
- She alongside along with her two cofounders secured $2.6 million in seed funding in January 2022.
- They plan to open 5 golf equipment this yr. Here is the pitch deck they used to get traders’ consideration.
Rhode Island-based advertising and marketing and branding skilled Britt Riley first considered the concept for her firm the Haven Collection — a rising community of Montessori-style daycare facilities that additionally provide coworking and health advantages for fogeys — whereas awake one night time at 3 a.m. attempting to get her new child and toddler again to sleep. Her work-life stability wasn’t balancing, she advised Insider, and getting everybody in her household to work and daycare each day was nerve-racking. She envisioned a brand new childcare mannequin that put household first.
“I got here to this as a result of I used to be a working mother, I used to be all of those statistics. I misplaced sleep over it, misplaced 25% productiveness, felt responsible, and I wasn’t doing something effectively,” Riley mentioned. “You do not have to look very laborious to see how a lot of an issue that is, and the way desperately it must be improved.”
She determined to hunt enterprise technique and instruction from Harvard Business School StartUp Partners, a program that connects entrepreneurs dealing with challenges with HBS alumni who’ve real-world expertise to “crack the case” and put the startup on an accelerated path for progress. Along with her new companion and future cofounder of the Haven Assortment, Morgan Everson, the pair invested greater than $100,000 of their very own financial savings to open their premier Coggeshall Club in Rhode Island in August 2019.
COVID-19 interrupted growth plans and lower money circulate at an integral time, Riley mentioned. A $150,000 federal Paycheck Safety Program mortgage and a convertible be aware, which is a well-liked technique of turning short-term debt into fairness, helped the fledgling enterprise scrape by. Bringing on Christy Johnson because the third cofounder in 2020 after being launched by mutual mates allowed them to renovate, fund, and open a second location in New Jersey in September 2021. The trio then secured $2.6 million in seed funding in January 2022, to which Johnson contributed along with three different traders, by pitching personal fairness corporations nationwide.
What’s now the Haven Assortment has grown 300% in income since 2019, Riley mentioned, and is about to develop as many as 5 golf equipment within the subsequent yr because of a Sequence A funding spherical on the docket for this autumn.
Riley walked Insider by way of the pitch deck they used to get traders’ consideration for each rounds, with slight changes from the primary spherical.