Australia-based job and task marketplace operator Airtasker completed a $33m ($25.7m) funding round featuring media company Seven West Media, Australian Financial Review reported today.
Family office Skyfield Capital led the round, which included private equity firm Exto Partners and investment firms Morning Crest Capital and Black Sheep Capital.
Founded in 2012, Airtasker runs an online marketplace that enables users to allocate short-term jobs or paid tasks to qualified members who can earn extra money through the platform.
The company claims to have 1.7 million users in Australia and the funding will support its expansion into the UK market.
Tim Fung, Airtasker’s co-founder and chief executive, told AFR: “The catalyst for doing the raise was our ambitions to launch internationally. You have to invest in the infrastructure up front.
“For us that is building out the software product…and then it is on boarding all the workers in order to start building up its self-sustaining nature.”
Seven West Media now owns a stake in the company sized at more than 18%, having led its $16.5m series B round in June 2016, which included Morning Crest, Exto Partners and roadside assistance provider National Road and Motorists Association, taking its total funding to $24m.