Care.com raises USD50m in E-round financing
Care.com has closed USD50m in new funding, led by Institutional Venture Partners (IVP) and joined by existing investors Matrix Partners, New Enterprise Associates and Trinity Ventures among others.
Founded in 2006, Care.com has raised USD61m in previous rounds of financing.
The company, which has approximately seven million members in more than 15 countries, allows families to connect with millions of caregivers to help manage the lifecycle of care challenges families face: childcare, including special needs, senior care, pet care, housekeeping, tutoring, and more.
Earlier this year, Care.com embarked upon an international expansion campaign which to date has included the acquisition of Berlin-based Besser Betreut, the largest online care portal in Europe, and the launches of Care.com in the UK and Canada.
Sheila Lirio Marcelo, founder and chief executive of Care.com, says: “It’s both thrilling and gratifying to have investors like IVP embrace the vision of Care.com, appreciate the enormity of global care needs, and believe in the scalability of our services to meet the care challenges faced by families around the world.”
Sandy Miller (pictured), general partner of IVP who will also now serve on the Care.com board of directors, says: “Sheila and the team at Care.com have done more than identify a growing global need; they’ve delivered on a strategy to help fill that need for millions of families. IVP is excited to be part of Care.com’s continued growth and expansion both in terms of the services the company offers and the markets it reaches.”
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