Institutional investors joined by power users in latest round
San Francisco, Oct. 6, 2017 – UrbanSitter, an online and mobile service that enables parents and childcare providers to connect through the people they know and other trusted sources, has closed $17 million in Series C funding. The round was led by Advance Venture Partners (AVP) with participation from existing investors Canaan Partners, Aspect Ventures, DBL Investors, First Round Capital, Menlo Ventures, Rustic Canyon Partners and Shatter Fund. The new financing brings UrbanSitter’s fundraising total to $40 million.
UrbanSitter’s new funding will primarily be used to expand to new U.S. cities, including Atlanta, Austin, Dallas, Portland and Sacramento. In addition, the investment will support ongoing product development and the introduction of new features, such as allowing parents to find, screen and book recurring caregivers, such as nannies.
“AVP invests in three core areas: software and services, commerce and media,” said David ibnAle, a Founding Partner of AVP. “UrbanSitter operates at the intersection of all three of these areas, which makes the company especially compelling for us. We believe that UrbanSitter is well-positioned for rapid growth in the coming years, as a growing number of parents look for high-quality, trusted solutions for their childcare needs and demand platforms that resemble the solutions they utilize in other aspects of their lives. As both an UrbanSitter investor and a frequent user, I’m excited about what the future holds for the company.”
In addition to traditional investors, UrbanSitter has also invited some of its power users to participate in the round. Roughly a dozen women who use the UrbanSitter service regularly are now investors and as a result, will have the opportunity be a part of a product advisory group through which they’ll provide the company’s product teams with monthly feedback.
“From AVP’s founding partner to a stay-at-home mom in San Francisco, all of our investors have conviction about the broader market opportunity and the company’s business plan and will bring new ideas and unique perspectives to the table,” said Lynn Perkins, CEO and co-founder of UrbanSitter. “I am thrilled to partner with all of them to realize UrbanSitter’s enormous potential and to bring our trusted platform for childcare to even more parents across the country.”
Since UrbanSitter launched in 2011 in San Francisco, the company has expanded to serve more than 500,000 members in 65 cities. The company has facilitated more than 450,000 babysitting jobs and has filled more than 80 percent of the job requests created on its platforms, the majority of which receive a response in less than three minutes.
Lead investor David ibnAle, a Founding Partner of AVP, will join the UrbanSitter board of directors.
An online and mobile service that enables parents and childcare providers to connect through the people they know and other trusted sources, UrbanSitter makes booking a trusted babysitter as easy as booking dinner reservations. The site enables parents to search, book and review trusted sitters within minutes.
Headquartered in San Francisco, UrbanSitter was founded by a group of Internet veterans who wanted to use technology to power a faster, more personal babysitting service. The company is backed by Advance Venture Partners, Canaan Partners, DBL Investors, First Round Capital, Match Group – a division of IAC, Menlo Ventures, Rustic Canyon, Aspect Ventures, A-Grade Investments, Shatter Fund and several angel investors. For more information or to sign up, visit www.urbansitter.com.