Care.com Raises Another $50M to Help Families Find Mrs. Doubtfire
August 07, 2012
by Ricardo Bilton
Caregiver portal Care.com announced today that it’s raised $50 million in new funding.
Care.com connects families to caregivers, giving them easy access to people who can help them take care of their kids, elders, pets, and homes.
The site already has 7 million members in over 15 countries. In April, Care said that over a million American caregivers had created accounts on the site. The company makes a good bit of its cash by charging families a one-time fee for access to its database of caregivers. Membership is also a part of Care.com’s WorkPlace solutions program, which is aimed at the employees of big companies (including their CEOs).
Care has been on a big international expansion this year: In April, it launched its UK arm, and last month it scooped up Besser Betreut, Europe’s largest care portal. As for what the company plans to do with the funding, Care’s communications head Nancy Bushkin told VentureBeat that much of it will go toward keeping up that growth.
“We’ll continue to invest in building our business, from the services we offer to the countries we reach,” she said.
The latest funding round was led by Institutional Venture Partners (IVP) and supported by Matrix Partners, New Enterprise Associates, Trinity Ventures, and others. Along with the funding, IVP’s Sandy Miller is joining Care.com’s board of directors.
Founded in 2006 by CEO Sheila Lirio Marcelo, the Boston-based company previously raised $61, bringing the company’s total funding to $111 million.