BrightWheel Shark Tank Pitch
Brightwheel is a mobile app for daycare,preschool, and early education. You get to be a part of your child's day using Dave Vasen's app. Teachers easily check in to the app, send updates, and send photos.
They use Brightwheel to track activities and manage their business. Teachers save time working with the app and are able to spend more time with the kids every day.
The Brightwheel app is free right now, but will have a premium subscription fee when they launch the full product. They have 2,500 schools across the country. This group has a massive market that does not have software. They are going to price at $40-200 per month.
Based on their pilot they raised a seed round of $2.2 million. He is looking for the partnership of being in Sharks for strategy.
BrightWheel Shark Tank Episode Data
- Company: BrightWheel – Website
- Entrepreneur: Dave Vasen
- Ask: $400,000 for 4% equity
- Episode Season 7 Episode 726
- Companies in this episode:
- First Aired: 04/29/2016
- Deal: Mark Cuban and Chris Sacca at $600,000 at $9 Million or 6.67% equity
What do the Shark Tank Investors say about BrightWheel?
- Mark Cuban – says that he doesn't need to nominate himself, but once you get out of Chris's bubble it doesn't mean S**t. He offers $400,000 at the 4% equity matching his ask.He counters at $300,000 from Mark and $300 from Chris at 4%
- Daymond John – doesn't think he can add a lot of value. He is out.
- Kevin O'Leary – offers $400,000 for 10% equity. Dave likes having Kevin with his interest given that he knows the education market. Kevin points out that the only Shark that has had a multi-million dollar exit in the education space is Mr. Wonderful. He matches Chris's deal.
- Barbara Corcoran –
- Chris Sacca – offers $400,000 at the $8.2 million valuation which is 4.89% Chris doesn't think he needs the other Sharks in on this deal even though Dave asked about bringing others in on the deal.
BrightWheel after Shark Tank
Dave sealed the deal with Mark Cuban and Chris Sacca and continues to grow the company. They are featured on a Shark Tank Update in Season 9.