CARE.COM RAISES $20 MILLION IN C-ROUND FINANCING LED BY NEW ENTERPRISE ASSOCIATES
Waltham, MA (October 12, 2010) - Care.com, Inc. (http://www.care.com) the premier source of trustworthy family care options, including childcare, senior care, pet care and housekeeping, today announced the closing of $20 million in funding. The financing was led by New Enterprise Associates (NEA) and joined by existing investors, Matrix Partners and Trinity Ventures.
At Care.com families can search mom-reviewed and prescreened profiles of hundreds of thousands of babysitters, nannies, tutors, housekeepers and senior caregivers, both locally and nationally. Care.com gives families access to detailed background check reports and recorded reference interviews, adding a layer of confidence and security when making important decisions regarding personal family care needs. Families can also find much needed advice from experts and tools covering many care related issues and topics.
"I'm thrilled to have found a partner in Tony Florence and NEA who not only appreciated the financial value in how Care.com is helping families today, but also understood the growth potential and continued need for what we do," Sheila Lirio Marcelo, Care.com founder and CEO said. "In 2006, we founded Care.com with the belief that like our own families, people need help in finding trusted care, whether it's for their children, parents, pets or home. We've built our success on providing thorough and expansive safety measures for families and providers, all the while supported by a great team of real people who care."
"Care.com is building the most trusted brand online for families to source all of their family care as well as home and personal services. It's a massive market that we believe is in the early stages of transitioning online, and Care.com is the leader with a unique value proposition that delivers a safe and secure way for families and providers to meet their care needs," said Tony Florence, a partner at NEA who co-heads the firm's venture growth equity practice and who will join the Care.com board in conjunction with the financing. "Sheila and her management team have a proven track record of success, and I am thrilled to partner with them as they continue to extend their leadership position and accelerate their growth strategy."
As the largest and fastest growing service used by families in the United States, Care.com intends to expand its growth through corporate and government partnerships; customized senior care service offerings; and, new vertical expansion beyond child care, special needs, elder care, pet care, tutoring and housekeeping.
Founded in 2006, Care.com is the largest and fastest growing service used by families to find high-quality caregivers, providing a trusted place to easily connect, share caregiving experiences and get advice. The company addresses the unique lifecycle of care needs that each family goes through-child care, special needs care, tutoring and lessons, senior care, pet care, housekeeping and more. The service helps families find and select the best care available based on detailed profiles, background checks and references for hundreds of thousands of mom-reviewed and pre-screened providers who seek to share their services. Through its Care.com Employer Program, corporations can offer Care.com memberships as a benefit to employees. www.care.com
About New Enterprise Associates, Inc.
New Enterprise Associates, Inc. (NEA) is a leading venture capital and growth equity firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 165 portfolio company IPOs and more than 265 acquisitions. In the U.S., NEA has two offices in the Washington, D.C. metropolitan area and one in Menlo Park, California. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com