SupportPay

paymentswealthtech-retailpersonal finance managementbill payments

STATUS: Closed
FOUNDING YEAR: 2018
LOCATION: United States
Last Update: 01/05/2020

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About

Ending family financial conflicts through the world's first-ever automated child support payment platform

MEDICI Analysis

SupportPay is a part of Ittavi Inc., it provides a payment platform for parents to share child expenses and manage child support. This platform allows parents to notify, dispute, pay or receive, and track child support expenses and payments; and SupportPay, an automated child support payment platform that allows parents to submit child expenses, store receipts, and make payments.

Focus

PRODUCTS & SERVICES

An automated child support payment app - Allow parents to pay child expenses and track month transactions. SupportPay helps parents manage child support and share expenses, resolve payment disputes, and share and track all documents and receipts related to their shared payments.

REVENUE MODEL

The company follows monthly & annual pricing plans: Lite plan: Free services with limited features. Premium plan: $14.99 per month & $9.99 per month(Billed annually) with permium services. Legal plan: $19.99 per month & $12.99 per month(Billed annually) with adding legal features.

MAIN CLIENTS

Retail consumers

EXISTING PARTNERSHIPS

Partnered with legal firm Avvo to give parents direct access to make their agreements legally binding and get legal services they require

instantly. Partnered with Care.com

to guide parents to the necessary tools like HomePay for their caregiving employment needs between households. Partnered with notary firm Notarize to provide online notary service to their users.

COMMENT

SupportPay's platform provides family law professionals and parents with a central database for automated payments, the ability to track and manage additional expenses, certified records of transactions, and a single place to store all receipts, documents and payment proof.

Traction

VALUATION / MARKET CAP:

$27.33 M in 2016

ACTIVE USERS:

400000

ACTIVE USERS COMMENT:

Approximately value

People

BOARD MEMBERS AND ADVISORS

Joanna Drake Earl

David Frank

Kevin Gould

Javier Saade

Paul Purcell

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Aspect Ventures

Bob Bozeman

Broadway Angels

Continental Advisors

Draper Associates

Fenway Summer Ventures

Financial Solutions Lab

Moneta Ventures.

RPM Ventures

Salesforce Ventures

Sonja Perkins

T5 Capital

TA Ventures

TEC Ventures

The Perkins Fund

KEY EMPLOYEES:

Sheri Atwood(CEO);Jyoti Das(CTO)

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

3

TOTAL FUNDING

$6.8 M

DATE OF LAST FUNDING

Dec 2016

SEED & PRIOR FUNDING

$2.7 M

SEED CLOSED ON

Jun 2015

FUNDING SERIES

SERIES A  · $4.1 M  · Dec 2016

LISTED

NO

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