Papa Pals 3

Summary List Placement

When Andrew Parker saw his grandfather, who he called Papa, needed help with daily activities, he wrote a post on Facebook asking if any college or nursing students would be interested in helping out. 

After seeing the positive effect on his Papa, Parker tested the idea on family and friends to see if the personal solution could scale to help others. His idea blossomed into a business — named after his grandfather’s nickname — that pairs older adults with caregivers who can provide companionship and assistance with tasks such as errands, transportation, and technology lessons. Think of it as grandkids on demand. 

“Papa was an entrepreneur, so I’ve always been inspired to think of the world that way,” Parker said. 

The Miami-based business announced on September 22 that it raised $18 million in a Series B led by Comcast Ventures, bringing its total to $31 million. Papa’s Series A round of $10 million was led by Reddit co-founder Alexis Ohanian. Papa is one of many startups aiming to find new elder care solutions for Baby Boomers, who are the second-largest living adult generation, according to the population estimates by the Census Bureau. 

Papa declined to share revenue figures with Business Insider but said the company has grown 20% month over month since inception and expects to increase membership growth fivefold compared to last year. The two-year-old company has 85 employees and more than 5,000 students working as caregivers. 

Parker shared Papa’s pitch deck exclusively with Business Insider and explained how he organized the presentation. Sensitive information has been redacted. He also gave his advice for creating a standout pitch deck.

SEE ALSO: We got an exclusive look at the pitch deck open-source platform Almanac used to raise $9 million in funding. The CEO breaks it down and gives his advice for entrepreneurs to perfect their pitch.

DON’T MISS: The first-time founder’s ultimate guide to pitching a VC and getting funding in 2020

The first two slides set up the problem and how Papa solves it.

Parker starts his pitch deck by presenting the problems Papa is trying to solve. He uses relevant statistics that show the scope of the issue in a quick and digestible way for investors. For example, there are 50 million US seniors and social isolation costs the US $7 billion per year. 

“There’s a cost associated with loneliness and isolation,” Parker said. “In a one-second view, you can see …read more

Source:: Business Insider

      

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Read the pitch deck Alexis Ohanian-backed elder care startup Papa used to raise $18 million for an app that provides ‘grandkids on demand’

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