CHICAGO, Jan. 28 /PRNewswire/ -- 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.
About Sittercity.com
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.
