Funding round
Thumbtack Growth
Reported as "Growth Equity"
Thumbtack, which works in home improvement services marketplace facilitation in San Francisco, raised $275M in a Growth round announced on 15 Jun 2021, led by Qatar Investment Authority, Blackstone and G Squared, at a $3.20B post-money valuation. 11 firms took part. It is Thumbtack's seventh venture round on record; the one before was a Growth in Jul 2019.
$275M
Amount raised
$3.20B
Post-money valuation
$2.92B pre-money
11
Investors
3 leads
1.9x
Step-up from the Growth
$1.70B in Jul 2019
8.6%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Thumbtack at $3.20B after the new money, 1.9 times the $1.70B of its Growth (Jul 2019). The $275M bought investors about 8.6% of the company. It came 23 months after Thumbtack's Growth. It is 39% of the $697M Thumbtack has raised in the venture rounds on record. No later venture round is on record for Thumbtack.
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 22 Jul 2019, led by Sequoia Capital $150M$1.70B post-money
- Growth this round 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
Qatar Investment Authority, Blackstone and G Squared led the round with 8 other firms.
Lead investors
- Qatar Investment Authority backs 71 venture-backed companies new investor
- Blackstone backs 83 venture-backed companies new investor
- G Squared backs 40 venture-backed companies new investor
Also in the round
- Baillie Gifford new investor
- CapitalG backs 70 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- MHS Capital new investor
- backs 46 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
405 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 4.6 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Lucid Tech Companies | 24 Jun 2021 | $500M | $3.00B | not named |
| Tech Companies | 29 Jun 2021 | $230M | not disclosed | Goldman Sachs Asset Management |
| AlayaCare Tech Companies | 30 Jun 2021 | $183M | not disclosed | Generation Investment Management |
| Tech Companies | 8 Jun 2021 | $130M | not disclosed | TA Associates |
| Tech Companies | 2 Jun 2021 | $100M | not disclosed | TPG |
| Tech Companies | 29 Jun 2021 | $100M | not disclosed | TPG |
| Tech Companies | 17 Jun 2021 | $75M | not disclosed | Sunstone Partners |
| Tech Companies | 28 Jun 2021 | $75M | not disclosed | Brighton Park Capital |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Thumbtack raise in its Growth round?
Thumbtack raised $275M in its Growth round, announced in Jun 2021.
Who led Thumbtack's Growth round?
Qatar Investment Authority, Blackstone and G Squared led it, with Baillie Gifford, CapitalG, Founders Circle Capital, Sequoia Capital and Tiger Global and 3 more.
What was Thumbtack's valuation at the Growth round?
$3.20B post-money ($2.92B pre-money).
How does it compare with other Growth rounds in Tech Companies?
405 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 4.6 times the median.