- General
- June 6, 2019
- 5 minutes read
Thumbtack Raising Up To $120 Million
Thumbtack co-founder and CEO Marco Zappacosta image: O’Reilly Internal on Flickr Thumbtack — a $1.3 billion valued San Francisco-based startup…
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| Thumbtack co-founder and CEO Marco Zappacosta
image: O’Reilly Internal on Flickr
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Thumbtack — a $1.3 billion valued San Francisco-based startup that matches its users with local professionals — is raising Series H funding of up to $120 million, according to a Delaware stock filing spotted by the Prime Unicorn Index. This round is coming at a flat valuation, that is, the same $1.3 billion valuation Thumbtack got when it last raised funding.
Launched in December 2009, Thumbtack is one of the pioneers of what is now known as the gig economy. The company has raised nearly $300 million in total funding according to Crunchbase data. Its backers include CapitalG (formerly Google Capital), Tiger Global, Sequoia Capital, Javelin Venture Partners and Baillie Gifford.
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| Thumbtack board member Bryan Schreier. Schreier is a partner at Sequoia Capital.
Photo by Steve Jennings/Getty Images for TechCrunch
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According to TechCrunch, Thumbtack has sought acquisition offers along the line of raising funding. Its report says Thumbtack was exploring mergers and acquisitions (M&A) opportunities with a competing or complimentary company ahead of its filing. It’s plausible that an acquisition fell through, leading the company to turn back to investors for a capital infusion. Another way to do that might be an IPO, but Thumbtack may not be currently prepared for the public markets.
Thumbtack is led by co-founder Marco Zappacosta, whose parents notably founded Logitech. Zappacosta holds a seat on the company’s board, along with Sequoia’s Bryan Schreier, BestReviews co-founder Denis Grosz, Javelin Venture Partners managing director Jed Katz, co-founder Jonathan Swanson, and Home Care Assistance CEO Lily Sarafan.
