Thumbtack raises $4.5MM Series A financing

Today we’re thrilled to announce some great news for our community of small businesses and consumers nationwide: Thumbtack has raised a $4.5 million Series A financing. We’ll now be able to significantly accelerate our growth, simplifying more lives and connecting many more people with great local professionals.

Founded in 2009, Thumbtack is a community marketplace for you to list, discover and book local services. We make hiring a service professional as easy as it is to buy a book on Amazon.com.

This investment round was led by Javelin Venture Partners, with the additional participation of MHS Capital and Tim Draper. We are very excited to bring these great partners on board, and are already benefiting from their contributions.

Javelin’s Managing Director, Jed Katz, has joined our Board. Katz is excited about the company – particularly about how big the opportunity is to transform the way people find and hire service professionals.

Thumbtack has seen dramatic growth over the last year. A few stats about us:

  • On average, a new user has signed up on Thumbtack every minute of every day for the last six months.
  • There are about half as many registered merchants on Thumbtack as there are claimed listings on Yelp (according to Yelp’s S-1, they have 529,000 – there are 240,000 on Thumbtack).
  • Thumbtack is already bringing $40 million of new work to local businesses annually, and the number is expanding rapidly.
  • Thumbtack currently has a team of eight in San Francisco – we will be scaling our team rapidly, and we are hiring designers and developers. If you want to join an awesome team with a great culture that is on a path towards big success, check out the info below.

A consumer anywhere in the U.S. can post a free request for service on Thumbtack, and we’ll bring them 3-5 bids on the job from qualified professionals to their email inbox within 24 hours. All kinds of local service professionals – like carpenters, wedding photographers, and Hindi tutors – are ready to respond to your request on our site.

The jobs on Thumbtack range from the small to the huge. A makeup artist from our site was hired to transform a few runners in San Francisco’s Bay to Breakers race into the blue Na’vi people from Avatar. And last month, Thumbtack received its largest job request ever – for the full construction of a six-story apartment building in Manhattan.

Thumbtack has built this community in only two years, and we’re extremely excited to hit the gas now that we have more resources.

The first thing we’re doing with this money? Hiring!

We’ve built a solid foundation to create an enormous and amazing company – but we still have a long way to go, and the opportunities to harness your creativity and develop a beautiful product here remain almost limitless. We’re currently hiring UX/UI designers, software engineers, and marketing rockstars. For the technical-minded among you, check out our engineering blog.

You’ll love coming to work at our office in San Francisco, working with our amazing team in the Philippines, and receiving emails from small businesses every day thanking us for bringing them work that allows them to pay their bills and put gas in their cars.

We have a lot planned for early 2012. We can’t wait to show you the new places our funding will take us!

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  • http://thetylerhayes.com Tyler Hayes

    There is no shortage of impressive numbers in this post. Big ups to everyone, keep up the great work. 

    Thumbtack rocks (coming from a current consumer and former local service professional).

    • Anonymous

      Thanks Tyler! We’re really excited about this news.

  • http://sacs-deluxe-fr.org/ Imitation Sac

    I’m sure the funding should be no problem for Thumbtack. Doing favor for community of small businesses and consumers is more than a charity.

  • http://sacssacs.com/ sacs pas cheres

    The avatar-looking guys amused me but for the sake of financing I think this is a good way to get more publicity.

  • professorbam

    Perhaps this will allow Thumbtack to fix its faulty algorithms, which measure “distance”by air miles rather than by highway miles or travel time.

    As a tutor serving all of Long Island (Suffolk and Nassau counties of NY), I constantly get phony “leads” in Connecticut (20 miles across the WATER, but 125 miles away by highway), and I almost NEVER see any actual “leads” from Long Island.

    For some reason, there are no Long Island students on Thumbtack.
    (Perhaps it’s because of the bad algorithm, but more likely it’s bad marketing.)
    Each week, I get DOZENS of Long Island “leads” from Long Island students seeking tutors, but months go by without even ONE from Thumbtack.

    I wonder if this is the case for services other than tutoring.
    Do other Thumbtack providers EVER get Long Island leads?
    If so, I’d like to hear about it, and maybe the folks at Thumbtack can learn how to attact students on Long Island.

    bam@professorbam.com
    bam@tutoring.li

    • thumbtack_com

      Professor Bam,

      Yes, I’m really sorry about the issue we have with Long Island. We have had this problem with Long Island residents since the day we started Thumbtack.
      I definitely understand how you feel – I would be really annoyed too if Thumbtack sent me leads that weren’t appropriate for me at all.

      In case you’re wondering, here’s the problem on our end: we send leads according to radius from your location. We are considering changing this to counties or zip codes that you elect, rather than radius. I’m forwarding your comments to our product team so they hear about the issue again. However, we obviously don’t have that capability yet, so I’m sorry that we can’t fix the problem for you right now.

      Regarding the lack of students seeking tutors in Long Island – we are not yet popular everywhere unfortunately. :-) Trust me, we are doing everything we can to make everyone hear about us and use us – that is our #1 goal!
      Sorry again about this headache.

      Best,
      Sander
      Co-founder, Thumbtac