Why young billionaire Mark Woodland Lister left retirement to start Kismet

Retirement


“I retired for two weeks.

The world has changed since 2010. Woodland decided the time was right to build his tools online to ease administrative headaches for the aging population and participants in the National Disability Insurance Scheme.

waiting game

“I was ready for my education.

“I couldn’t pass up the chance, so I jumped in again,” he said.

Investor Daniel Petre and venture capital firm Airtree provided the founder with a second round of funding, raising $4 million in a pre-seed round. The startup also includes Black Nova and Flying Fox.

Kismet is an online platform that provides a complete picture of NDIS participants’ plans and helps them track where their funds are spent. There is also an online marketplace of his 27,000 providers, all vetted, where participants can make reservations and leave reviews.

The startup has also replicated the digital tick-in system functionality it built into Xplor, allowing parents to sign their children in and out of the daycare via their smartphones. For Kismet, digital check-in is used by NDIS to verify that the services paid for are actually provided.

spending reduction

“Ten years ago, we saw the same problems of fraud, inefficiency and friction in childcare,” Woodland said.

Last week, Disability Minister Bill Shorten outlined plans to cut $74 billion from projected NDIS spending over the next decade as the cost of the NDIS scheme continues to rise.

The company’s first suite of products is designed for NDIS, but Woodland plans to use the company’s new capital to expand into the international elderly care space.

Woodland co-founded Kismet with four of his Xplor colleagues: Sam Armstrong, Stephen Cordiner, Lauren Grimes and Matt Ellis.

“We understand how difficult it is to build something like this, and we love to see repeat founders build on the lessons learned from past successes,” said Airtree. Ventures partner Elysia McDonald said.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *