San Francisco-based consumer service Thumbtack has closed $30 million in Series C funding. Sequoia Capital and Tiger Global Management led the round. According to the company, the capital will be used for growth and product development.
May 22, 2014 09:00 AM Eastern Daylight Time
SAN FRANCISCO–(BUSINESS WIRE)–Thumbtack, a consumer service that helps people accomplish the personal projects that are central to their lives, announced today the company is helping customers with 3 million projects per year by introducing them to available and qualified professionals within hours. Across more than 700 categories and within all 50 U.S. states, Thumbtack has seen 300% growth in projects over the past year. The company sends an estimated $1.8 billion worth of business annually to 63,000 paying professionals.
In addition, Thumbtack has completed a $30 million round of Series C financing co-led by early investor Sequoia Capital and Tiger Global Management. Thumbtack will use the funds to significantly grow the team and invest in product development. Thumbtack has received a total of $49 million in funding.
“Thumbtack is using technology to introduce people to experienced professionals to accomplish their personal projects,” said Marco Zappacosta, co-founder and CEO of Thumbtack. “There are many services that provide listings of professionals with ratings and phone numbers, but end there. Thumbtack goes much farther—instead of just showing you information, we connect you with professionals ready to do your job within hours. We’re creating a whole new experience for customers.”
Thumbtack is helping customers accomplish their personal projects across a wide range of geographies, project types and price points, from $50,000 kitchen remodels in St. Louis to $200 magicians for birthday parties in Phoenix. The average project on Thumbtack is $600. The company’s top geographies are Los Angeles, Dallas, New York, Atlanta, and Chicago and most popular categories include Personal Training, Catering, Moving, Interior Painting, and Singing Lessons.
Customers get started by answering specific questions to communicate their individual needs. Within hours, Thumbtack introduces customers to several available and qualified professionals. Customers hire professionals after comparing custom quotes, reviews, business profiles and, if necessary, calling or meeting with the professionals to discuss their work.
“We’ve learned people feel anxious and intimidated when trying to hire the right professional. Our mission is to remove this anxiety for customers, and at the same time help professionals grow their business,” said Jonathan Swanson, co-founder and President of Thumbtack.
Today, the Thumbtack App for iPhone™ is available as a free download in the Apple App Store. Forty percent of Thumbtack’s customers already use the service on their mobile phones, and the new iPhone app deepens this mobile experience by making it even easier for customers to hire a professional from their mobile phones.
“Thumbtack is at the forefront of a cultural shift in the way customers and professionals do business,” said Bryan Schreier, Sequoia partner and Thumbtack board member. “Thumbtack’s talented team has created an incredibly powerful service, and we are delighted to continue our support.”
Headquartered in San Francisco, Thumbtack is a consumer service that helps millions of people accomplish the personal projects that are central to their lives. Thumbtack introduces customers to experienced professionals who are available, interested and qualified to meet their specific needs. Whether looking for a painter for their home, a math tutor for their child, or a DJ for their wedding, Thumbtack provides anyone in the U.S. with an easy and dependable way to get started, compare options, and hire with confidence. The company has raised a total of $49 million from Sequoia Capital, Tiger Global Management, Javelin Venture Partners, and other prominent investors.