Sequoia looks to grow Thumbtack through $12.5m financing round


drill-diy-construction-woodVenture investment major Sequoia Capital has led a $12.5m financing round for local service marketing business Thumbtack.

Previous investors Javelin Venture Partners and MHS Capital also took part in the round, which Thumbtack said would expand the company’s team.

The business connects consumers to about 250,000 service professionals in the US, and has become the fastest-growing company tackling the market since it was launched in 2009.

Sequoia’s Bryan Screier, who joins the Thumbtack board following the financing, said, “Companies have been trying to solve the challenge of local services for over a decade, but it’s still way too hard to get a plumber when you need one.

“Like eBay before it, Thumbtack is making clever use of technology to transform an enormous market and better serve consumers and small businesses.”

Last month Sequoia re-upped its commitment to online radio service TuneIn as part of a $25m financing round led by Institutional Venture Partners.

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