For the first time in the adoption industry, institutional investors come together to provide resources to help make the process more efficient and equitable for Biological Moms and Adoptive Families
SEATTLE–(BUSINESS WIRE)–#PairTree—PairTree, an adoption platform using technology and data to increase and accelerate connections between Biological Moms and Adoptive Families, announced the closing of a $2.25 million seed financing round to modernize adoption through its use of technology to enable a more ethical, affordable and equitable adoption process.
As one in eight couples suffers from infertility, more people are seeking alternate paths to parenting, including more than five million families looking into adoption in the U.S. every year. However, the conventional approach to adoption includes high fees, long timelines and opaque and analog processes which are barriers for many hopeful parents. For the first time in the adoption industry, institutional investment firms are investing in a company focused on making the adoption process efficient, easier and more equitable for Biological Families and Adoptive Families. PairTree’s seed round was led by Urban Innovation Fund, with Founder Collective, Female Founders Alliance and Techstars as the other major participants.
“At PairTree we believe the future of adoption is more ethical, affordable and equitable, and that technology will play a critical role to make it happen more efficiently and safely. Biological and Adoptive Families have grown up with the Internet, so they are more comfortable forming these deep relationships online, so our goal is to provide a more modern approach to the adoption process for them,” said PairTree co-founder and CEO Erin Quick. “We’re grateful to our expert and diverse group of investors who share our vision that adoption should be a viable path to parenting for more people. Like us, our investors believe in the importance of supporting Biological and Adopting Families along with the Adoptees, because adoption is not a single transaction but a journey they’re taking over the course of a lifetime.”
Funding from PairTree’s seed round will help further expand the company’s proprietary technology platform to make the adoption journey more efficient for Biological Families and Adoptive Families and Adoption Professionals; build an industry-leading, iOS and Android app to create a modern experience for Biological and Adoptive Families, of which 90% are currently using PairTree on mobile devices and; initiate partnerships with community health care organizations, reproductive clinics, and NGOs who are seeking modern technology resources to better support stakeholders across each stage of the adoption journey.
“The Urban Innovation Fund backs startups that have the potential to positively shape the lives of millions of people. By modernizing the adoption process, PairTree is uniquely positioned to do this,” said Julie Lien, co-founder and Managing Partner of the Urban Innovation Fund. “We’re proud to back a company that strongly supports expectant families and finds loving homes for all of our nation’s children.”
A short video with insights from PairTree’s investors is available at: https://vimeo.com/565775269/05fafccf6d.
PairTree was co-founded by entrepreneurs Erin Quick and Justin Friberg. Chief Executive Officer Erin Quick is building on a 20-year career in global brand marketing and her own first-hand experiences as the adoptive mom of two children. Justin Friberg, Chief Technical Officer, is an experienced engineering leader and start-up veteran that had a successful exit with Record360 in 2019.
Launched in July 2020, PairTree is an adoption platform using technology and data to increase and accelerate connections between Biological and Adoptive Families. More than 1,600 Adoptive Families and 300 Biological Moms have registered on the platform. PairTree believes traditional adoption is lopsided, with Biological Moms giving the most, but receiving the least. The company believes providing lifetime support for Biological Moms should be standard and donates 5% of net profit to organizations that provide lifetime support for Biological Moms.
Jennifer Tice Walker