Thumbtack Partners with Sequoia Capital in $12.5M Series B
SAN FRANCISCO, June 13, 2013 /PRNewswire/ -- Thumbtack (www.thumbtack.com), the company that makes it easy to hire trusted local service professionals, today announced the closing of a $12.5 million "Series B" investment round led by Sequoia Capital. Sequoia's Bryan Schreier will join Thumbtack's board of directors. Prior investors Javelin Venture Partners and MHS Capital also contributed to the new investment round.
Since launching in 2009, Thumbtack has become the fastest growing company tackling the local services market. Thumbtack directly connects consumers to 250,000 service professionals in all 50 states across every type of local service imaginable. Thumbtack currently generates about $300 million a year in new business for local professionals nationwide.
"Our mission at Thumbtack is to use technology to save people time and money and to bring skilled professionals more work," said Marco Zappacosta, CEO and Founder of Thumbtack. "We couldn't be more excited to partner with Sequoia in bringing this vision to millions of people nationwide – and eventually globally."
"Companies have been trying to solve the challenge of local services for over a decade, but it's still way too hard to get a plumber when you need one," said Bryan Schreier, partner at Sequoia Capital. "Like eBay before it, Thumbtack is making clever use of technology to transform an enormous market and better serve consumers and small businesses."
The new financing will be used to expand Thumbtack's team.
Thumbtack is a new way to hire local services. Instead of wasting time searching, browsing and playing phone tag, just tell us what you need. Thumbtack delivers multiple quotes from our network of vetted pros within 24 hours. We can help you maintain your home, plan your events, learn new skills, improve your wellness and more across all 50 states. By connecting local professionals directly with new clients, we're empowering more than 250,000 talented pros to grow their businesses.
About Sequoia Capital
Sequoia Capital helps founders turn imaginative ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," the Sequoia team has worked closely with legendary founders such as Steve Jobs of Apple, Larry Ellison of Oracle, Len Bosack and Sandy Lerner of Cisco, David Filo and Jerry Yang of Yahoo!, Max Levchin, Elon Musk and Peter Thiel of PayPal, Sergey Brin and Larry Page of Google, Steve Chen and Chad Hurley of YouTube, and Reid Hoffman and Jeff Weiner of LinkedIn. Sequoia is now helping the next generation of innovators build the lasting companies of tomorrow.
Marco Zappacosta, email@example.com, Thumbtack