The deal, which was announced today but formally closed on December 31 last year, will allow Care.com to expand upon its services both for individual and corporate members.
Founded in 1984, Parents in a Pinch has built up a comprehensive network of nanny agencies in the Unites States, which can provide trusted back-up care whenever there is a gap in a family’s care arrangements.
While it focuses predominantly on in-home back-up care to companies and families, it also offers hotels and group events a similar service. As a result, the firm has more than 60 corporate clients, including Bain & Company, Boston Children’s Hospital, Cubist Pharmaceuticals, Dana-Farber Cancer Institute, TripAdvisor, the University of Pennsylvania, Vanderbilt University, and Vistaprint, among many others.
As a result of the acquisition, Parents in a Pinch, which is currently based in Brookline, MA, will relocate to Care.com’s offices in Waltham, MA. It is now a wholly owned subsidiary of Care.com, and will continue to be run by its co-founders Barbara Siegel and Davida Manon.
Sheila Lirio Marcelo, founder and CEO of Care.com, said:
“Barbara Siegel is one of the most respected leaders in the back-up care industry and has built strong relationships with top-tier nanny and home care agencies across the country.
Making those relationships available to Care.com’s multi-million membership and corporate clients is a win for everyone: agencies, caregivers, and most importantly, families in need of care.”
Care.com members will be able to access back-up care through Parents in a Pinch later this year. Likewise, Care.com says they will begin offering its own range of corporate care services to Parents in a Pinch’s clients in the coming weeks.
Care.com was founded in 2006 and now has 7 million members in more than 15 different countries. That tally makes it the largest and also one of the fastest growing online care destinations available.
The company has received $105 million in venture capital funding through five different rounds (Series A-E), the most of recent of which had participation from New Enterprise Associates, Trinity Ventures, Matrix Partners and Institutional Venture Partners.
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