From the Wires
Care.com Acquires Parents in a Pinch
-- World's Largest Online Care Destination Expands Services With Back-Up Care --
By: PR Newswire
Jan. 15, 2013 10:30 AM
WALTHAM, Mass., Jan. 15, 2013 /PRNewswire/ -- Care.com (http://www.Care.com), the largest online care destination in the world, has acquired Parents in a Pinch, a leading back-up child and adult care specialist, broadening its service offerings for employers and members. Terms of the transaction, which closed on December 31, 2012, were not disclosed.
Parents in a Pinch, which is currently based in Brookline, MA and will relocate to Care.com's offices, is now a wholly owned subsidiary of Care.com and will continue to be run by co-founders Barbara Siegel and Davida Manon.
Currently, an estimated 30% of Fortune 500 companies offer back-up care to employees and trends in the workforce, such as the rising number of dual-income households and the growing prevalence of working remotely, make in-home back-up care increasingly important to both employers and employees. Parents in a Pinch currently has more than 60 corporate clients whose employees utilize its services to find both back-up childcare and adult care. Parents in a Pinch provides its services across the country, with a significant presence on the East Coast, to clients including Bain & Company, Inc., Boston Children's Hospital, Cubist Pharmaceuticals, Dana-Farber Cancer Institute, Edwards Wildman Palmer LLP, TripAdvisor, University of Pennsylvania, Vanderbilt University, and Vistaprint, among many others.
In announcing the acquisition, Sheila Lirio Marcelo, Founder and CEO of Care.com, said, "Through our existing business serving employers, we are acutely aware of the needs companies face in addressing the growing care challenges faced by their employees and their desire to do so via one provider who can offer a full scope of services. Back-up care is a critical component in that mix and with Parents in a Pinch, Care.com is now uniquely positioned to provide professional in-home back-up care assistance as an adjacency to our existing services."
Ms. Marcelo continued, "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."
Ms. Siegel said, "We are thrilled with the opportunities that being part of the Care.com family offers us to support even more companies and families across the country. Care.com's membership and its ever-growing list of corporate clients are huge new markets to which we can lend our expertise."
While Parents in a Pinch focuses primarily on providing in-home back-up care to corporations and families, it also provides back-up care services to hotels and at group events.
In-home back-up care via Parents in a Pinch will be available to Care.com members later this year. Care.com will begin adding Parents in a Pinch's back-up care services to Care.com's employer offerings immediately; likewise, Care.com expects to begin offering its full suite of corporate care services to corporate clients of Parents in a Pinch this month.
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