What is SupportPay?
SupportPay operates as a leading platform for divorced, single, step-parents, and caregivers, facilitating the management and exchange of child support, shared expenses, payments, communications, custody, and schedules. The company aims to simplify financial and logistical coordination for families navigating co-parenting arrangements, providing a centralized and efficient system for these critical aspects of family life.
How much funding has SupportPay raised?
SupportPay has raised a total of $10.6M across 4 funding rounds:
Angel/Seed
$2.6M
Series A
$4.1M
Unspecified
$800K
Angel/Seed
$3.1M
Angel/Seed (2014): $2.6M with participation from Aspect Ventures, salesforce.com, RPM Ventures, Draper Associates, and Broadway Angels
Series A (2016): $4.1M led by Moneta Ventures, Continental Advisors, and Fenway Summer Ventures
Unspecified (2020): $800K supported by Hustle Fund, EVPI Investments, Comeback Capital, The Syndicate, and Launch Accelerator
Angel/Seed (2023): $3.1M featuring HearstLab and Michigan Capital Network
Key Investors in SupportPay
HearstLab
HearstLab is a corporate venture fund that provides cash investments and services to early-stage, women-led startups across various sectors, including fintech, healthcare, and media. Its mission is to bridge the gender gap in venture capital by supporting founders in building scalable businesses.
Michigan Capital Network
Grand Angels is a venture capital and angel network dedicated to fostering business growth in the West Michigan region. The organization provides mentoring, strategic advice, and networking opportunities to innovative companies, strengthening the entrepreneurial economy.
Aspect Ventures
Aspect Ventures, headquartered in Palo Alto, California, and established in 2014, is a venture capital firm that partners with entrepreneurs to build transformative businesses.
What's next for SupportPay?
The recent major enterprise-level funding and strategic investment indicate a significant growth phase for SupportPay. This capital is likely to be deployed towards enhancing platform features, expanding market reach, and potentially developing new services to further support co-parenting families. The company's focus on simplifying complex financial and logistical challenges positions it for continued expansion in the family tech sector.
See full SupportPay company page
