News

Red Ventures has sold Caring.com, a senior care resources company, to a consortium of unnamed family office and private equity investors and digital marketing experts. No financial terms were disclosed. Petsky Prunier advised Red Ventures on the sale.

PRESS RELEASE

May 9, 2018 (New York, NY) – Petsky Prunier is pleased to announce it has advised Red Ventures on its sale of Caring.com to a consortium of family office and private equity investors and digital marketing experts. Caring.com, a leading customer acquisition platform focused on the senior care market, was acquired by Red Ventures as part of its purchase of Bankrate in 2017.

Caring.com connects assisted living communities, independent living communities, and in-home care service providers with high-intent customers who are looking to find the best available care options for themselves and their loved ones. Caring.com is widely regarded as the leading destination for senior care information with more than three million monthly visitors, more than double the visitors of the next closest competitor. The site offers in excess of 150,000 reviews and more than 3,000 relevant articles.

The company’s analytically-driven demand generation capabilities result in more than 50,000 inquiries each month. Once a family expresses interest in learning more about senior living communities or in-home care service providers in their area, they are contacted by one of Caring.com’s more than 115 expert Family Advisors, who works closely with them to help find the most suitable options available for long-term senior care, aligning the family’s preferences and detailed attributes with the most relevant providers via the company’s proprietary predictive matching algorithm. In 2017, Caring.com generated nearly 10,000 move-ins for its community partners.

Caring.com has been acquired by a consortium of family office and private equity investors and digital marketing experts. The investor group will continue to grow the company’s current lines of business, while also pursuing new expansion opportunities in adjacent markets.

Petsky Prunier, with a team led by Sanjay Chadda, Christopher French, Dylan Kearns, and Greg Staton, served as the exclusive financial advisor to Red Ventures and Caring.com.

Petsky Prunier is one of the leading investment banks to the technology, media, marketing, information, eCommerce, and healthcare industries. Our firm’s merger and acquisition and private placement advisory services reflect a unique blend of product specialization and industry expertise. Together with strategic consulting firm Winterberry Group, a Petsky Prunier company, our organization represents one of the largest industry-specific advisors providing strategic and transactional services. We offer global reach supplemented through our partnerships in China and India. Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA, and an affiliated entity.