Trusted wants the providers of its on-demand babysitting service to feel like they’re welcome. The company announced today the launch of a tuition reimbursement program for employees, helping them save $5,250 each calendar year as long as they meet specific criteria.
In order to participate, employees must be enrolled in an accredited university and must have a GPA of 3.0 or better. It doesn’t matter if you’re an undergraduate or graduate student nor does it apply to a particular major or profession: “As long as you’re working towards your degree, it doesn’t matter at all,” the company told VentureBeat.
Trusted chief executive Anand Iyer said that over the past six months since the company’s launch, the team has thought about what incentives and benefits could its providers receive to help them stay engaged while also setting the service apart from other on-demand marketplaces. It turns out that some of its workers were nursing students carrying an average loan of $30,000.
The tuition reimbursement program is expected to take some of the pressure off of the employee so that they can put their education into practice while also generating income to pay off their other bills. Trusted tested this offering out with those from the University of San Francisco with the feedback being “overwhelmingly positive.”
Iyer thinks it’ll be a “unique offering and proposition for providers to work with Trusted.”
Since its launch six months ago, Trusted has seen a large amount of demand — so much that it has resigned itself to throttling it in a way where it can continue to offer great experiences. Iyer said that it’s gotten to a point where there’s a waitlist set up for parents interested in using the service.
The premise behind the company is that it’s a marketplace to find childcare. If you’re looking for a verified caretaker for just a few hours, but don’t want to spend endless hours searching for the right one, Trusted wants you to take a chance on it. All providers are W-2 employees, has their background checked, and undergo a strict testing process. What’s more, parents can elect to watch their child through a livestream set up by the babysitter.
The service started out in San Francisco and is slowly expanding to other parts of the Bay Area. Iyer told us that it is alpha testing in the peninsula and upper East Bay (between Oakland and Walnut Creek) now.
Originally it raised $1.1 million in seed funding, but just added an additional million to that round from investors like Naval Ravikant and CrunchFund.