Sittercity.com, a Chicago-based online care-giving network, has raised $7.5 million in new VC funding. Point Judith Capital and Apex Venture Partners co-led the round, and were joined by company management and returning angel investors.
Sittercity.com, America‘s first and largest online caregiving network, announced today that it has closed $7.5 million in equity financing. The round was co-led by Point Judith Capital and Apex Venture Partners, and included management and previous investors.
Over the last seven years, Sittercity has won 12 national awards, made more than 1,000 appearances in the media — including Ellen, The View, Today Show, The Early Show and Good Morning America — and was recently number 287 on INC Magazine’s list of the 500 fastest growing companies in America.
“Sittercity has established itself as the clear leader in the field,” said Genevieve Thiers, Sittercity’s founder and CEO. “Back in 2001 when we launched, many people were highly skeptical that anyone would ever go online to find in-home care. Today, with more than a million caregiver profiles nationwide, more than 100,000 care seeker profiles and 25 of the country’s most admired corporations using our service, we’ve not only established online as a viable place for finding care but also solidified Sittercity is the definitive leader in this growing field.”
As part of the financing, Sittercity.com named three new members to the Company’s Board of Directors, including Sean Marsh, General Partner of Point Judith Capital, Lon Chow, General Partner of Apex Venture Partners and Martin Clifford, CEO of Wis.dm and former COO of Udate.com. Lee Hower, Principal of Point Judith Capital and former co-founder of business social networking pioneer LinkedIn, also joins the team as an advisor.
“Our new investors and directors have been intimately involved in the creation and growth of some of the most important Internet subscription and media companies in the US and Europe over the past decade,” states Thiers. “I’m thrilled to have added these passionate and experienced Internet investors and entrepreneurs to the team.”
Sean Marsh states, “Point Judith Capital is very excited to have the opportunity to partner with Sittercity.com to expand its leadership in the industry. This is a company that has built a highly scalable and attractive business model that is showing both accelerated growth and network expansion, the two cornerstones of capital-efficient Internet businesses of substantial size and equity value. Genevieve is a true entrepreneurial pioneer, and has built the clear leader in a fast growing and important sector offering a solution that is universal for families across the US. As a parent of three children, myself, I know how difficult it is to find quality caregivers for all of our household needs. Sittercity delivers a solution that is unparalleled.”
Even in the current economic downturn, Sittercity is proving to be a recession-proof business. In 2008, the company continued solid year over year growth in the middle of the worst recession since the depression, and it is already beating its revenue goals for 2009.
Sittercity.com(R), the inventor of online caregiving, is America’s largest and most trusted online source for child care, pet care, senior care, housesitting, housekeeping and tutoring. As the industry leader in online care, Sittercity has a network of more than a million caregiver profiles nationwide, and helps families and individuals across America find the perfect in-home care provider quickly, easily and safely. Sittercity’s care-seekers can use the company’s four-step screening process, which includes checking references, reading caregiver reviews, conducting interviews and utilizing free access to background checks. Sitter profiles also come with photos, experience, training, safety skills, availability calendars, reviews and more. Registration for sitters is free, and care-seekers pay as little as $8 per month for a membership, which gives them unlimited ability to post jobs, and search, contact and hire sitters in their areas. The pioneer of its field, Sittercity has been featured by thousands of media outlets, including The Ellen DeGeneres Show, The View, TODAY Show, Good Morning America, The Early Show, New York Times, Wall Street Journal, and many more. Sittercity has also received twelve national awards, including a U.S. Small Business Administration award in 2006 from President Bush, and three international awards, including first place in the prestigious UPS “Out of the Box” Small Business contest. Sittercity’s Corporate Program now serves more than twenty-five marquee clients, including Avon, Mastercard, FOX Networks, Pitney Bowes, and Monster Worldwide. For more information, visit the company Web site at http://www.sittercity.com.
About Point Judith Capital
Point Judith Capital is a leading early-stage venture capital firm partnering with outstanding entrepreneurs building world class communications, Internet, healthcare and technology companies. Point Judith Capital has a strategic partnership with Tudor Investment Corporation, a premier, global alternative asset management firm. Point Judith’s team has funded or founded such notable successes as LinkedIn, Optasite, Andover.net (Slashdot, Linux.com) and Yandex. For more information, visit http://www.pointjudithcapital.com.
About Apex Partners
Apex Venture Partners is one of the oldest venture capital firms in the Midwest. Founded in 1987, Apex has invested in over 140 information technology and technology-enabled services companies throughout the U.S. Apex has six funds and over $600 million under management. For more information about Apex Venture Partners, please visit http://www.apexvc.com.