TaskRabbit, a US-based network to connect people for practical tasks, has raised $17.8m in its series B round from a syndicate including repeat investor Allen & Company, a merchant bank specializing in the media sector.
Venture capital firm LightSpeed Venture Partners led the B round, which also included Tornante Company, the investment firm led by Michael Eisner, former chief executive (CEO) of media group Walt Disney, who will give TaskRabbit strategic advice.
TaskRabbit, formerly known as RunMyErrand, closed its A round in May after an initial tranche of $1m came in from VC firms Baseline Ventures and Maples Investments. In the past seven months TaskRabbit has tripled both its net revenue while increasing its customer base seven-fold.
Eric Grosse, CEO of TaskRabbit since October when founder Leah Busque moved to become chief product officer, said: "The experience of LightSpeed, Allen & Company, Tornante and our current investor group will help us build on current momentum and respond to the overwhelming demand for our service."