Eldercare site and community Caring.com has raised $10 million in a second round of funding. New investor Shasta Ventures led, with participation from previous backers DCM and Split Rock Partners. The company says it will use the money for new hires, as well as an expansion of the core Caring.com site, and Gilbert Guide, the eldercare services directory it acquired in October. The company has raised $16 million in total.
Founded in 2007, San Mateo-based Caring.com says its traffic has grown to over a million monthly uniques. In a statement, Tod Francis, managing partner at Shasta Ventures, said the company’s traffic growth and ad performance were what attracted the investment.
Caring.com runs display ads and sponsorships; co-founder and CEO Andy Cohen said about half of the site’s advertisers are pharmaceutical brands. As for the recent scrutiny by the FDA around pharma ads, Cohen said Caring.com was insulated because the Agency was focused on search ads and user-generated content — not display ads or curated editorial.