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Are Childcare Benefit Programs Expensive?
What is childcare really worth? The answer for many is that it’s priceless.
Employers considering expanding existing …
NEW YORK, Aug. 16, 2022 – Today, Inc. revealed that Upwards (formerly WeeCare), the nation’s largest childcare network, has ranked No. 292 on its annual Inc. 5000 list. As the most prestigious collection of the fastest-growing private companies in America, the list showcases companies that have proven themselves within the economy’s most dynamic segment: independent business. Microsoft, Facebook, Under Armour, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“We’re honored to be included on the 2022 Inc. 5000 list,” says Jessica Chang, Co-Founder and CEO of Upwards. “Working families are the backbone of the economy, and the need to support them through childcare cannot be overstated. We’re proud to be recognized as industry leaders and look forward to continuing our mission of making affordable, high-quality childcare available to all American families. This is only the beginning!”
Upwards was founded in 2017 by Jessica Chang — alongside partners Jesse Forrest and Matt Reilly — due to her frustration with finding affordable, high-quality childcare for her own family. During the COVID pandemic, the company shifted its business model from a consumer marketplace to connecting organizations with employee childcare as a corporate benefit. Upwards leverages its network of daycares and caregivers (the largest of its kind in the nation) to enable more than 90 U.S. enterprises in supporting their employees’ childcare needs. The company also works with varying levels of government to support childcare providers, working families, and employers, focusing on expanding equitable access to childcare. Upwards (formerly WeeCare) recently announced a $12 million Series A fundraising round — led by M13’s Anna Barber — to bolster its childcare benefits program for working families at all income levels, and to bring the nation one step closer to resolving the current childcare crisis.
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
Companies on the 2022 Inc. 5000 have not only demonstrated their success, but have shown resilience amid supply chain woes, labor shortages, and the ongoing impact of COVID-19. Among the top 500 honorees, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies created more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles, can be found at www.inc.com/inc5000. The top 500 companies, including Upwards (formerly WeeCare), will be featured in the September issue of Inc. magazine, available August 23.
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More about Inc. and the Inc. 5000
Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at www.inc.com/inc5000.
About Inc.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
About Upwards
Upwards is a technology-driven care solutions company with a mission to make care accessible to all families and empower the caregivers who provide it. Upwards brings together families, care providers, employers, and governments to create new care avenues in real-time and utilizes a data-driven approach to enhance the supply and capacity of the care system. Upwards matches families with caregivers equipped to meet their unique needs and connects families with the resources they need to afford care, whether through government subsidies or workplace benefits. To learn more, visit upwards.com.
