Thumbtack, a US-based local services listing platform backed by internet and technology conglomerate Alphabet, received $150m yesterday in a series H round led by venture capital firm Sequoia Capital.
Asset management firm Baillie Gifford also took part in the round, which valued Thumbtack at $1.7bn. A regulatory document last month indicated the company had raised $120m at a flat valuation of $1.3bn.
Thumbtack operates an online marketplace where local professionals can advertise their services to customers. It has grown to incorporate more than 1,000 different types of merchants, ranging from handymen to tax lawyers to dog walkers to translators.
The fresh funding will support Thumbtack’s business growth and help accelerate the development of new tools and products. The company will also “aggressively” expand its headcount, it said.
Marco Zappacosta, Thumbtack’s co-founder and chief executive, said: “Today’s investment will allow us to accelerate our efforts to create the tools and infrastructure needed to empower small businesses to run and grow their businesses.”
Thumbtack has raised more than $422m in equity financing since it was founded in 2008. CapitalG, the growth equity subsidiary of Alphabet then called Google Capital, participated in a $125m series E round in 2015 that was led by Baillie Gifford and which included Sequoia and Tiger Global Management.
The company had previously secured $100m in a series D round led by CapitalG in 2014, with commitments from existing backers Sequoia, Tiger Global and Javelin Venture Partners. Its shareholders also include Draper Associates, MHS Capital and various private investors.
