Funding round
Thumbtack Growth
Reported as "Growth Equity"
Thumbtack, which works in home improvement services marketplace facilitation in San Francisco, raised $150M in a Growth round announced on 22 Jul 2019, led by Sequoia Capital, at a $1.70B post-money valuation. 2 firms took part, 2 of them already investors. It is Thumbtack's sixth venture round on record; the one before was a Growth in Sep 2015.
$150M
Amount raised
$1.70B
Post-money valuation
2
Investors
1 lead
1.4x
Step-up from the Growth
$1.25B in Sep 2015
8.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Thumbtack at $1.70B after the new money, 1.4 times the $1.25B of its Growth (Sep 2015). The $150M bought investors about 8.8% of the company. It came 46 months after Thumbtack's Growth. It is 22% of the $697M Thumbtack has raised in the venture rounds on record. Thumbtack raised again 23 months later: a Growth round of $275M in Jun 2021, at $3.20B post-money.
Thumbtack's funding rounds
Thumbtack has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 1 Jan 2012, led by Javelin Venture Partners $4.5M
- Series B 13 Jun 2013, led by Sequoia Capital $13M$47M post-money
- Series C 22 May 2014, led by Sequoia Capital $30M
- Series D 20 Aug 2014, led by CapitalG $100M
- Growth 29 Sep 2015, led by Baillie Gifford $125M$1.25B post-money
- Growth this round 22 Jul 2019, led by Sequoia Capital $150M$1.70B post-money
- Growth 15 Jun 2021, led by Qatar Investment Authority, Blackstone and G Squared $275M$3.20B post-money
- Debt not a venture round 31 Jul 2024, led by Hercules Capital $75M
Investors
Who put money in
Sequoia Capital led the round with 1 other firm. Sequoia Capital and Baillie Gifford had backed Thumbtack before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies existing investor
Also in the round
- Baillie Gifford existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
234 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 3.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| OpenAI Tech Companies | 22 Jul 2019 | $1.00B | not disclosed | Microsoft |
| Tech Companies | 11 Jul 2019 | $177M | $400M | Apax Partners |
| Tech Companies | 15 Jul 2019 | $48M | not disclosed | Warburg Pincus |
| Tech Companies | 17 Jul 2019 | $40M | not disclosed | Canadian Business Growth Fund |
| Tech Companies | 29 Jul 2019 | $28M | not disclosed | not named |
| AlayaCare Tech Companies | 2 Jul 2019 | $25M | not disclosed | Inovia |
| Tech Companies | 24 Jul 2019 | undisclosed | not disclosed | not named |
| Tech Companies | 12 Jun 2019 | $227M | not disclosed | Eurazeo and Morgan Stanley |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Thumbtack raise in its Growth round?
Thumbtack raised $150M in its Growth round, announced in Jul 2019.
Who led Thumbtack's Growth round?
Sequoia Capital led it, with Baillie Gifford.
What was Thumbtack's valuation at the Growth round?
$1.70B post-money.
How does it compare with other Growth rounds in Tech Companies?
234 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 3.3 times the median.
Did Thumbtack raise again after this round?
Yes: a Growth round in Jun 2021 of $275M at $3.20B post-money.