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Venture Capital News: Sittercity Raises $13M

2013-11-18
CHICAGO, IL, Online source for in-home care, today announced the closing of $13 million in financing.
Sittercity.com, America's largest and most trusted online source for in-home care, today announced the closing of $13 million in financing. The financing includes Bright Horizons Family Solutions Inc. (BFAM), the leading provider of high-quality child care, early education, back-up care and other work/life solutions designed to help employers and families better address the challenges of work and life. Bright Horizons' investment makes them the exclusive provider of Sittercity's employer-sponsored SelectPlus program, which gives employees access to the largest online network of caregivers, including child care, elder care and pet care.

Sittercity plans to use the latest funding, which includes existing investors Apex Venture Partners, Baird Venture Capital, I2A Funds, Point Judith Capital, Pritzker Group Venture Capital, State of Wisconsin Investment Board and new debt provider Square 1 Bank, to expand and strengthen its position as the leading solution for families seeking nannies, babysitters and other in-home care. Together, Sittercity and Bright Horizons will engage more families to help them find quality care for their children.

'In partnership with Bright Horizons, we look forward to better supporting families while continuing to attract, cultivate and feature the industry's top sitters and nannies as part of our comprehensive child care offering,' said Sittercity CEO Martin Clifford. 'This is an important step in helping us to provide the best child care available online.'

'Bright Horizons set the standard for high-quality employer-sponsored child care and education, meeting the needs of our client's employees,' said Bright Horizons CEO David Lissy. 'This new partnership with Sittercity will help our clients provide their employees with an even broader range of support as they seek to meet the various demands required of them.'

Effective January 1, 2014, Sittercity's SelectPlus program will be part of the newly created Bright Horizons CareDirecttm program. Employees will have access both to Sittercity's industry-leading self-select, online care base, including child care, pet care, homework help, and senior care planning and referrals, for everyday care needs and to Bright Horizons' broad Back-Up Care Advantage program, which offers care for children and adults, reserved through a call center, provided by a network of credentialed in-home providers or at a child care centers in Bright Horizons' nationwide network.

'Bright Horizons is a great platform for SelectPlus to continue to significantly expand its reach,' said Clifford. 'Sittercity and Bright Horizons have each set the standard as leaders their sector of the employer-sponsored care industry. This new partnership offers a more comprehensive and integrated suite of high-quality solutions for employees.'

About Sittercity.com

Sittercity, founded in 2001, is America's most trusted online solution for connecting families with high-quality local caregivers, including babysitters, nannies, special needs sitters, care companions, and pet sitters. With over four million members nationwide, Sittercity meets every family's needs by providing detailed profiles reviewed by industry professionals complete with photos, parent reviews, up-to-date availability, references and caregiving experience. Sittercity also provides tools to help families throughout the screening and hiring process, including two levels of background checks, motor vehicle records checks, and an online safety guide. As the Department of Defense's solution of choice, military families in all four branches (Army, Marines, Navy and Air Force) have access to Sittercity funded through an exclusive Department of Defense contract. For more information, visit the company Web site at www.sittercity.com.

About Bright Horizons Family Solutions Inc.

Bright Horizons Family Solutions is a leading provider of high-quality child care, early education and other services designed to help employers and families better address the challenges of work and life. The Company provides center-based full service child care, back-up dependent care and educational advisory services to more than 850 clients across the United States, the United Kingdom, Ireland, the Netherlands, Canada and India, including more than 130 FORTUNE 500 companies and more than 75 of Working Mother magazine's 2012 '100 Best Companies for Working Mothers.' Bright Horizons is one of FORTUNE magazine's '100 Best Companies to Work For' and is one of the UK's Best Workplaces as designated by the Great Place to Work Institute. Bright Horizons is headquartered in Watertown, MA. The Company's web site is located at www.brighthorizons.com.
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