Thumbtack, a San Francisco, California-based local services marketplace that connects consumers to professionals across U.S., raised $150m in funding.
The round, which valued the company at $1.7 billion, was led by existing investor Sequoia Capital, with participation from current investor Baillie Gifford.
The company intends to use the funds to:
– accelerate efforts to create the tools and infrastructure needed to allow small businesses to run and grow their businesses, such as offering deeper scheduling and payment integrations,
– expand the role and reach of its platform, and
– hire new people during 2019.
Launched in 2008 and led by Marco Zappacosta, CEO, Thumbtack provides a marketplace that enables customers to connect with local plumbing, catering, personal training, math tutoring, and other skilled professionals.
Today, the marketplace platform delivers instant, real-time matches to both customers and local service professionals.