SEATTLE and MENLO PARK, Calif. and NEW YORK, July 5, 2017
Established in 2000, A Place for Mom's multi-channel marketing and technology platform connects families to a network of over 18,500 senior living providers in the U.S. and Canada, providing free, personalized assistance. Addressing the unique needs of each family it serves, the company generates in-depth and detailed informational guidance that can dramatically simplify an often challenging and opaque search process. A Place for Mom and its network of senior living partners offer options for independent living, assisted living, residential care homes, memory care and home care services. Over the past year, the company has helped over 275,000 families in their search for senior living and home care solutions.
"As a growing number of Americans confront the daunting task of finding the right care solutions for their aging family members, our website, mobile tools and team of more than 500 expert local Advisors offer carefully researched and diverse options to identify the best and most appropriate senior care communities," said Sean Kell, CEO of A Place for Mom. "We are proud of the progress we have achieved together with our valued network of senior living community partners and through our partnership with Warburg Pincus. General Atlantic and Silver Lake both have proven track records of partnering with high-growth companies and will add considerable strategic value as we aim to expand our capabilities to serve the needs of both our families and network of senior living providers."
"We are excited to partner with Sean and his talented team as they embark on the company's next phase of dynamic growth," said Greg Mondre, Managing Partner and Managing Director, and Adam Karol, Director, both of Silver Lake. "A Place for Mom provides both families and the senior care community with a valuable service, differentiated by its powerful technology platform and data-driven approach. We look forward to working with General Atlantic to build on these strengths by helping A Place for Mom execute its important mission and expand its capabilities as the trusted network for senior care."
Anton Levy, Managing Director and Global Head of Internet & Technology at General Atlantic, said, "A Place for Mom sits at the critical intersection of a number of exciting trends across the information technology and healthcare sectors, including the continued shift in consumer research from offline to online channels." Robbert Vorhoff, Managing Director and Global Head of Healthcare at General Atlantic, continued, "Given the ever increasing demand for high quality senior care, we believe A Place for Mom is poised for continued rapid growth. We are thrilled to partner with the management team and Silver Lake to help achieve the company's long-term strategic vision as an innovative industry leader."
"A Place for Mom has established a best in class leadership position in the online senior living and care industry, with an attractive business model and a mission-driven approach," said Vishnu Menon, Managing Director and head of the Warburg Pincus San Francisco office and Justin Sadrian, Managing Director, Warburg Pincus. "We have been delighted and honored to support Sean and his team as they have built A Place for Mom into the world-class senior services network and support organization that it is today, while positioning the company to continue capitalizing on powerful long-term demographic trends going forward."
As an authority and thought leader in the senior living industry, A Place for Mom provides extensive resources including its Senior Living Finder mobile app, newsletter, blogs and planning guides to help streamline the search process for families. In addition, A Place for Mom's Senior Living Cost Index helps families learn about the cost of senior living options in over 2,000 cities. A Place for Mom is proud to have a 97% customer satisfaction rating and an A+ rating with the Better Business Bureau.
In its next phase of growth, A Place for Mom will seek to enhance its capacity to meet the growing needs of families and adult children who are increasingly turning to the Internet to inform and navigate pivotal life decisions around senior care. The company hopes to expand its service offering across the senior living continuum to provide better access, coordination and quality of care for the families it serves. In addition, A Place for Mom expects to make further investments in its technology platform including cloud-based initiatives and advanced data collection and analytics.
As part of their firms' investment in A Place for Mom, Greg Mondre and Adam Karol from Silver Lake and Anton Levy and Robbert Vorhoff from General Atlantic will join the company's board of directors.
A Place for Mom was advised by William Blair & Company and Willkie Farr & Gallagher. The transaction is subject to customary closing conditions.
About A Place for MomA Place for Mom is North America's largest senior services network with more than 500 Senior Living Advisor and Community Relations Advisors providing resources and personalized assistance in finding senior living options. A Place for Mom works with a nationwide network of over 18,500 providers to help families find options based on a loved one's stated needs, preferences and budget. This may include independent senior housing, home care, residential care homes, assisted living communities, memory care and Alzheimer's care. The service is offered at no charge to families as providers pay a fee to A Place for Mom. For more information, visit www.aplaceformom.com.
About Silver Lake Silver Lake is the global leader in technology investing, with about $39 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, Hong Kong and Tokyo. Silver Lake's portfolio of investments collectively generates more than $140 billion of revenue annually and employs more than 300,000 people globally. The firm's current portfolio includes leading technology and technology-enabled businesses such as Alibaba Group, Ancestry, Broadcom Limited, Cast & Crew, Ctrip, Dell Technologies, Fanatics, Global Blue, GoDaddy, Motorola Solutions, Red Ventures, Sabre, SoFi, SolarWinds, Symantec and WME?IMG. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.
About General AtlanticGeneral Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com
About Warburg PincusWarburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $44 billion in private equity assets under management. The firm's active portfolio of more than 140 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds which have invested more than $60 billion in over 780 companies in more than 40 countries. The firm has been among the most active investors in marketplace businesses globally with current and former investments including OfferUp, 58.com, Quikr, Koudai, CarTrade, GO-JEK, Uxin, Haodai, GlobalSpec, GrubHub Seamless, and Slickdeals. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information, please visit www.warburgpincus.com.
For A Place for MomCharlie SevernMediaInquiry@aplaceformom.com+1-206-802-1604
For General AtlanticMike GellerEdelman for General Atlanticmedia@generalatlantic.com+1-212-729-2163
For Silver LakePatricia Graue / Sourav BhowmickBrunswick Group for Silver Lakesilverlake@brunswickgroup.com+1-212-333-3810
For Warburg PincusMary Armstrong / Christopher Beattie+1-212-878-9201
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/a-place-for-mom-announces-strategic-investment-from-general-atlantic-and-silver-lake-300483582.html
SOURCE A Place for Mom
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