The other half of expenses, including medical bills, extracurricular activities, transportation, and childcare, are often discussed over text messages or emailed spreadsheets, which can get contentious quite quickly. Oftentimes there is a child support payment in place, however child support only covers food, shelter, and clothing, which is roughly half the cost of raising a child. When separating, couples face the difficult choice of either figuring out finances ad hoc on their own or hiring lawyers and going through an expensive legal process. Throughout our journey, we have been inspired and humbled by the way co-parents have brought us into their financial lives and are eager to continue advancing our offerings to better serve co-parents and create happier homes for the next generation." "We set out to build a product that eases tense communication about shared finances and serves the nuanced needs of separated parents. In more contentious divorces, it often gets used as a power lever among two emotionally charged individuals with no other tools at their disposal," said Jacklyn Rome, CEO and founder of Ensemble. "What we've heard time and time again is that money is often the #1 cause of arguments among co-parents, even in the most amicable relationships. This underscores the need for a solution like this to help manage ongoing expenses. Ensemble's users, on average, are tracking over $1,000 per month in shared expenses for their children, a substantial amount of money for the average American family. This growth, paired with consistent positive feedback from divorced and separated parents, signals Ensemble's lead in a large and underserved market. Ensemble's platform was designed to meet the needs of co-parents who are often tasked with ongoing emotional conversations around shared finances for their children, ranging from splitting one-off expenses to saving for college tuition.Īfter launching in the iOS App Store in the Spring of 2020, Ensemble saw strong organic growth and referrals from its existing users. The app solves an acute pain point for the 50+ million divorced parents in the United States, who currently rely on text messages and spreadsheets to track shared expenses for their children. The fundraise kicks off Ensemble's official public launch and will help expand the app's capabilities to better serve the needs of divorced and separated parents.Įnsemble's mission is to improve the lives of co-parents and their children. LOS ANGELES, Ma/PRNewswire/ - Ensemble, the expense tracking app for co-parents, announced its launch today and a $3 million seed investment by TTV Capital, Lerer Hippeau, and Citi Ventures.
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