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Caring.com closes USD10m in series B financing

Caring.com, an online destination for people caring for aging parents and loved ones, has closed USD10m in series B financing, led by new investor Shasta Ventures.

Existing investors DCM and Split Rock Partners, also participated, along with support by individual investors.

"We’re excited to invest in the large and growing eldercare category. Caring for an aging loved one is a life stage when consumers need a lot of information, products and services," says Tod Francis (pictured), managing partner at Shasta Ventures. "Caring.com is meeting this need as evidenced by its strong traffic growth and the high demand for site inventory from advertisers."

The new funding will support the continued expansion of Caring.com, including further development of the Caring.com site, the recently acquired Gilbert Guide eldercare services directory, new marketing programmes and growth of the Caring.com team.

"We’re thrilled to have Shasta as a new business partner," says Andy Cohen, co-founder and chief executive Caring.com. "Their experience building successful online brands like Mint.com will help Caring.com continue to grow at a rapid pace."

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