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Google Capital leads hefty $100m financing for VC-backed Thumbtack

21 Aug 2014

thumbtackGoogle Capital has led a $100m financing round for personal project hiring service Thumbtack alongside a string of returning backers.

Sequoia Capital, Javelin Venture Partners and Tiger Global Management also took part in the financing round, which brings Thumbtack’s total funding raised to $150m.

The company allows people to list projects and be linked to qualified professional who can help carry them out.

Thumbtack says it sends an estimated $1.8bn of business to more than 75,000 paying professionals each year.

Google Capital general partner David Lawee said, “First and foremost, Thumbtack is a great product.

“As a consumer, it’s the best product I’ve ever used to hire local professionals.

“The bigger story, however, is the potential for small businesses: Thumbtack has a real opportunity to transform how local professionals find new customers.

“The Thumbtack team is highly impressive and the opportunity in front of them is enormous. We’re excited to be a part of it.”

Thumbtack announced a $30m Series C financing round co-led by early investor Sequoia Capital and Tiger Global Management in May this year.

Thumbtack said it would use that capital, as well as the additional funds, to significantly grow the business, launch nationwide marketing campaigns and scale the engineering team in order to accelerate investments in our product and infrastructure.

CEO Marco Zappacosta said, “We were already a strong and well capitalized business, but David and Google Capital offer something truly special, and we couldn’t pass up the opportunity to work with them.

“David brings years of experience working to help small businesses market themselves online, and the Google Capital financing and partnership allows us to think even bigger and further expand our business.”

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