TaskRabbit Raises $17.8M in Series B Financing
TaskRabbit, a San Francisco, CA-based service network that connects people in a community to get daily tasks done, has raised $17.8m in Series B financing.
The round was led by LightSpeed Venture Partners, with participation from existing investors Allen & Company and The Tornante Company, the investment firm led by former CEO of The Walt Disney Company, Michael Eisner.
In conjunction with the financing, Justin Caldbeck, managing director at LightSpeed, will join TaskRabbit’s CEO Eric Grosse and Leah Busque, as well as Shasta Ventures’ Sean Flynn, on the company’s Board of Directors. In addition to his firm’s contribution, Eisner will give TaskRabbit strategic advice.
The company intends to use the funding to expand its engineering, design and operations teams, enhance product features and capabilities, and grow nationwide and abroad.
Launched in 2008, TaskRabbit provides people and businesses with a trusted and secure way to get both everyday and skilled tasks done. It connects “TaskPosters”, people who need an extra hand, with “TaskRabbits”, a network of pre-approved and background-checked individuals, who have the time and skills needed to complete the job.