CareGuide raises $6 million Series A, acquires Nannies4Hire
CareGuide has closed a $6 million Series A round as the company looks to ramp up sales and marketing efforts for its portfolio of marketplaces.
iNovia Capital and Plaza Ventures led the round, with participation from Conconi Growth Partners, new Halifax-based VC firm Metric, and US firms Structure Capital and FJ Labs. Follow-on investors from CareGuide’s small army of angels include: Alex Conconi, Alkarim Nasser, Bernie Li, Corby Fine, Dave Johnson, David Hamilton, Hasham Aboulhosn, Jacob Shea, Jillian Manus, Jim Murphy, Mike Walsh, Taylor Little, Rahul Parmar, and Tom Predovic. iNovia’s Sarah Marion will be joining the board of directors as part of iNovia’s investment.
CareGuide is a family of online services with a simple mission to pair families and individuals with great care providers. With thousands of user profiles, you can find a care provider in your area, in just about any industry. Founded in 2013, CareGuide has taken an aggressive approach to acquisitions as fuel for growth. The $1 million in debt financing the company took from RBC in 2015 went towards acquiring 13-year-old market leader CanadianNanny. Since then, CareGuide has grown that property’s top-line revenue threefold.
Partner James Smith and Kyle Lavender from LaBarge Weinstein acted as counsel for CareGuide.
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