Funding round
Thumbtack Series B
Thumbtack, which works in home improvement services marketplace facilitation in San Francisco, raised $13M in a Series B round announced on 13 Jun 2013, led by Sequoia Capital, at a $47M post-money valuation. 3 firms took part. It is Thumbtack's second venture round on record; the one before was a Series A in Jan 2012.
$13M
Amount raised
$47M
Post-money valuation
$35M pre-money
3
Investors
1 lead
27%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Thumbtack at $47M after the new money. The $13M bought investors about 27% of the company. It came 17 months after Thumbtack's Series A. It is 1.8% of the $697M Thumbtack has raised in the venture rounds on record. Thumbtack raised again 11 months later: a Series C round of $30M in May 2014. Its next priced round, a Growth in Sep 2015, valued it at $1.25B.
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 this round 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 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 2 other firms.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- backs 46 venture-backed companies new investor
- MHS Capital new 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
123 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was 1.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 30 Jun 2013 | $50M | $1.50B | not named |
| Tech Companies | 4 Jun 2013 | $8.0M | not disclosed | dfj |
| Tech Companies | 20 Jun 2013 | $6.4M | not disclosed | Horizons Ventures |
| Tech Companies | 21 Jun 2013 | $4.3M | not disclosed | Capnamic and Iris Capital |
| Tech Companies | 1 Jul 2013 | $24M | not disclosed | not named |
| Tech Companies | 22 May 2013 | $20M | not disclosed | Sequoia Capital |
| Tech Companies | 26 Jul 2013 | $15M | not disclosed | Canaan |
| Tech Companies | 30 May 2013 | $15M | $125M | Summit Partners |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Thumbtack raise in its Series B round?
Thumbtack raised $13M in its Series B round, announced in Jun 2013.
Who led Thumbtack's Series B round?
Sequoia Capital led it, with Javelin Venture Partners and MHS Capital.
What was Thumbtack's valuation at the Series B round?
$47M post-money ($35M pre-money).
How does it compare with other Series B rounds in Tech Companies?
123 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was 1.3 times the median.
Did Thumbtack raise again after this round?
Yes: a Series C round in May 2014 of $30M.