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Finding someone to take care of your loved ones is an extremely stressful and anxiety-laden process. has built a successful business on making this process easier.

Today the company set the range for its upcoming initial public offering at $14 to $16 a share. It plans to sell 5.35 million shares.

The online marketplace connects care providers with people who need care. The company expressed its intent to go public in December 2013, and said it aims to raise $80 million.

This share price puts Care directly in that range — if shares sell for $15 a share, Care will raise $80.25 million, and could raise up to $85.6 million. connects families to caregivers, giving them easy access to people who can help them take care of their kids, elders, pets, and homes. Caregiver profiles contain basic information about credentials as well as options to request background checks, contact references, and interview candidates.

Searching, posting a job, and previewing profiles on Care is free. The company makes money through subscriptions for its products and services. Customers pay a monthly, quarterly, or annual subscription fee (costing from $37 a month to $147 a year) to connect directly with caregivers and access supplemental tools, such as background checks.

The site now has 9.7 million members across 5.2 million families and 4.5 million caregivers. It attracts 6.3 million unique visitors a month, and a new job is posted every 30 seconds. Care also gives employers access to the platform and works with over 600,000 employer-sponsored families.

Even though Care was founded in 2006, the company said it is still “early in the penetration” of the addressable market.

Care has experienced “rapid growth” in revenue and members. In September 2010, it had 1.9 million members. Three years later, it has 9.1 million, representing 70 percent compounded annual growth.

Revenue grew from $12.9 million in 2010 to $48.5 million in 2012, representing 94 percent compounded annual growth. Revenue for the nine months ending in September totaled $59 million, an increase of 81 percent from the same period in 2012.

Care still saw a net loss of $20.4 million in 2012 and $24.6 million during the first nine months of 2013. It said it expects to continue having operating losses as it grows the business and may not maintain the current rate of revenue growth.

Care is based in Waltham, Mass. and this will make it the first venture-funded tech company from the Boston Area to go public in nearly two years.

Care has raised a total of $111 million in venture capital. Matrix Partners, also from Waltham, is the largest investor, with 22.2 percent of shares. Other investors include Trinity Ventures with 14.3 percent, NEA with 13.3 percent, and Institutional Venture Partners with 10.2 percent.

It will be listed on the New York Stock Exchange under the symbol CRCM.


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