Caring.com Announces $4 Million Investment From Intel Capital
New funding will support further development of the site, with an emphasis on engagement; Robin Joy joins company as Vice President of Marketing
SAN MATEO, CA, April 22, 2010 — Caring.com, the leading online destination for family caregivers facing the many challenges of eldercare, today announced it has closed a $4 million investment from Intel Capital. The new funding is in addition to the initial $10 million Series B financing announced in November 2009, bringing the company's total funding to date to $20 million.
Caring.com will use the new funding to support the company's continued expansion, including further development of the Caring.com site, its local eldercare services directory, and new marketing programs focused on customer acquisition and engagement.
"Using the latest technology to provide information and resources to help manage the care of America's aging population is an important element of digital health," said Curt Nichols, Vice President of Intel Capital. "Intel is looking forward to working with Caring.com to bring support to the millions of family caregivers around the world."
With one million unique monthly visitors, Caring.com is a trusted source of eldercare information and community on the Web. Its offerings include thousands of original articles, helpful tools, advice from more than 50 leading experts, a community of caregivers, and a comprehensive directory of eldercare services. Since announcing its Series B funding in November 2009, Caring.com has seen positive momentum in site visitors and registrations.
As part of its plans to focus on customer acquisition and engagement, Caring.com also announced the arrival of Robin Joy as Vice President of Marketing. Joy brings a wealth of experience from working in marketing, strategy, and general management at a broad spectrum of technology and consumer-focused companies. She has held leadership positions at businesses including AltaVista, Clorox, Mercer Management Consulting, Moxi Digital, Odwalla, and, most recently, Intuit, where she was Director of Marketing for QuickBooks, the nation's leading small-business financial software.
"Intel Capital is a valuable strategic investor for Caring.com, and we're excited to be growing the Caring.com management team with the addition of a world-class marketer like Robin Joy," said Andy Cohen, CEO and Co-Founder, Caring.com. "The addition of new funding and arrival of key senior talent will strengthen our ability to meet the needs of family caregivers."
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$9.5 billion in over 1,050 companies in 47 countries. In that timeframe, 175 portfolio companies have gone public on various exchanges around the world and 241 were acquired or participated in a merger. In 2009, Intel Capital invested US$327 million in 107 investments, with approximately 50 percent of funds invested outside the U.S. and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.