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Thumbtack raises $125 million in funding

October 03, 2016

Online staffing platform Thumbtack announced a $125 million investment.

The six-year-old online platform says it now has more than 200,000 paying professionals and millions of customers.

“When we attempted to raise our Series A in Fall of 2011, we got rejected — not once, not twice, but 42 times!” wrote Thumbtack Co-founder CEO Marco Zappacosta in a blog post. “It was pretty brutal. With our bank account close to zero, we started discussing how we were going to let go of the entire team. But even in the face of defeat, we could see our dream off in the distance. There was just a mountain (and a desert, and maybe a lava pit) in the way. Fast-forward to today: we’re announcing a $125 million investment on top of last year’s round of funding, which we’ve barely touched.”

Thumbtack is now valued at about $1.3 billion, up from about $750 million last year, The New York Times reported. The Scottish money management firm Baillie Gifford led the latest funding, which nearly doubles the amount of money Thumbtack has raised, and previous investors including Tiger Global, Google Capital and Sequoia Capital also participated.