Since its inception, I sensed Wonderschool’s mission could ripple far past a single program launch or parent’s child care search and into some pretty big social spheres. Those spheres matter to me on a leadership and personal level.

Receiving $25 million in Series B funding from Goldman Sachs One Million Black Women (OMBW) is the subsequent ripple effect, and I could not be more excited. OMBW has a multi-pronged strategy with a focus on child care and Black women’s economic empowerment. The initiative supports prenatal, child care, and preschool security, which Black women disproportionately lack for generational success.

Many parents and child care entrepreneurs require solutions these days, but OMBW addresses the demographic (Black women and children) that is the most affected—working from the most challenging part of a national problem first.

SOME HARD TRUTHS:

More than 38% of the difference in premature births between Black and white mothers connects to chronic stress due to socioeconomic characteristics, education levels, aspects of their health, and where they live. Premature birth can be a huge challenge to surmount, and when it comes to child care, the challenge continues to go uphill.

Black and Latina mothers are more likely to be the breadwinners among other female ethnicities and at the same time more likely to live in child care deserts or not afford quality child care. Only 15% of African-American children have access to quality early education at the moment.

HOW GREATER CHILD CARE ACCESS CAN HELP IMPROVE OUTCOMES:

  • Black women carry full term with less chronic stress related to child care/financial insecurity.
  • Black women retain employer-provided health insurance, protecting against financial risk.
  • Black mothers continue to scale earnings and careers, reducing the wage gap.
  • Black women increase retirement savings, closing another financial gap.
  • Black women build generational wealth-college funds, businesses, and home ownership.
  • Black Womenomics and accessible child care improve economic and social stability.
  • Quality preschool bridges skill gaps Black children face due to a lack of access.

    My mother is a Black woman who enrolled me in an early education program led by a woman of color while she worked. I credit her and this early school for boosting the opportunities that make me the entrepreneur, technologist, and founder I am today. What if we didn’t have this access early on? An unreasonable number of Black mothers and children do not.

    This funding is more than an investment; it’s the big-picture dispersion of opportunity for Black women today and Black children tomorrow.

    Every child should grow and thrive, so should great solutions.
    
    -Chris Bennett
    CEO of Wonderschool