With an eye on expansion, Chicago-based Sittercity has raised $22.6 million in venture capital, the Chicago Tribune reported.
Two Chicago-based venture capital firms, Baird Venture Partners and New World Ventures, led the investment round, which also included funds from the State of Wisconsin Investment Board and Western Technology Investment, the Tribune said.
The company, which helps families find sitters through an online database of 2 million caregiver profiles, plans to expand its core offering internationally and accelerate development of its new corporate program domestically, Crain’s Chicago Business reported.
“We had thought through, ˜Do we want to drive with what we ve got and build the business along that route, or do we really want to push the pedal to the metal and drive for growth? We decided that we ve got a model that really works, and now it just about doing it harder ”and that going to take some investment, Sittercity CEO Martin Clifford told Crain’s.