To say that the startup sector in India has undergone a revolution will be an understatement, given the record number of additions to the coveted unicorn club and the record amounts of capital that companies have gobbled up from investors, both domestic and global.
The rest of the startup eco has been catching up as well, and peer-to-peer social platform GetSetUp is the latest firm to put its name on the list after it raised $10 million in new funding round. The capital was raised through “simple agreement for future equity” (SAFE) warrants led by Aileen Lee’s Cowboy Ventures and LightShed Ventures. Earlier, it had raised $11 million in a seed funding round led by edtech startup investing firm Rethink Education with participation from Yahoo co-founder Jerry Yang’s AME Cloud Ventures.
The proceeds from the funding round will be utilized towards further adapting its technology so that it meets the needs of seniors around the globe. 2022 would see the firm utilize some of the funds to expand its team so that they can offer more classes, simpler technology, and a greater variety of classes taught in more diverse languages.
What makes GetSetUp’s work all the more important is that it focuses less on the younger generation and more on the older ones, especially individuals over 55 years old. Education is an area that is crucial for all individuals regardless of age, but the education sector mostly focuses on the young generation. This, in the long run, leaves older individuals to fall behind Gen Z, who are skilled in the internet, social media, and overall, more tech-savvy. This is where GetSetUp comes in, and with over 4 million users from more than 160 countries, it seeks to empower the older generation through education and provides a community where people can communicate and connect with other individuals and share their knowledge and passions.
GetSetUp offers more than 500 live interactive classes on topics ranging from health and wellness to technology and creative hobbies, where students and teachers alike consist of seniors. These bite-sized classes, taught in English, Spanish, Hindi, and Mandarin, help them learn new skills, connect with others, unlock new life experiences, and stay mentally and physically fit. This, in the long run, creates economic opportunities through jobs and reskilling. If GetSetUp continues its good work, age will cease to become an obstacle as individuals will have access to, and will be able to learn, new skills.
GetSetUp has been working hard ever since its inception, signing deals with senior living communities and the healthcare programs of various states in the US and other countries. In fact, it is also entering into a partnership with healthcare firm Tivity Health, something that will give the eligible 18 million Americans, who are enrolled in one of their more than 70 eligible Medicare plans, access to GetSetUp for free.