GetSetUp has raised $10 million in new funding through “simple agreement for future equity” (SAFE) warrants led by Aileen Lee’s Cowboy Ventures and LightShed Ventures. This follows an $11 million seed round last October led by edtech investing firm Rethink Education with participation from Yahoo co-founder Jerry Yang’s AME Cloud Ventures.
Rich Greenfield with LightShed Ventures said commenting on the investment, “The media and tech world has largely ignored older adults, with their obsession around millennials and GenZ. GetSetUp has created a first-of-its-kind media and content platform to improve the health, wellness, and knowledge of the over 50 population globally. GetSetUp creates a community that actively engages its members, building their confidence with technology that opens an endless array of new opportunities. LightShed Ventures views GetSetUp as a huge business, but also one that is making the world a better place for all of us as we age.”
Prior to investing Aileen Lee, Founder & Managing Partner of Cowboy Ventures tested the platform in a rather unorthodox manner as she said, “I asked my 80 year old mother to take a virtual class on the platform. A day later, my mother had become infatuated with courses on exercising, speaking Mandarin and making Indian food. She made friends, including the teacher in the food class, who lives in India, and a fellow participant who was learning skills from a hospital bed. My mom has been calling it ‘GSU’ like it’s a university. It became imperative to see through the growth of such an inclusive and excellent platform for older adults.”
Deval Delivala, Co-founder and SVP, GetSetUp said, “We are excited to use this next round of funding to further adapt our technology to meet the needs of seniors around the globe. In the upcoming year I’m looking to use some of this funding to grow our team so we can offer more classes, simpler technology, and a greater variety of classes taught in more diverse languages.”
GetSetUp currently has over 4 million users from over 160 countries. More than 500 live interactive classes run throughout the week for seniors and taught by seniors. Classes cover a variety of topics from health and wellness to technology and creative hobbies. Not only are the seniors coming on the platform to learn but they are also becoming creators themselves and teaching their passions from their favorite dish to leading singing and dancing social hours. The company recently announced a new partnership with healthcare firm Tivity Health that will make the eligible 18 million Americans who are enrolled in one of their more than 70 eligible Medicare plans, able to access GetSetUp for free.
Source: Business World
