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Thumbtack Intends To Raise $120 Million At A $1.3 Billion Valuation

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In a time not all that long ago, you’d see fliers for these sorts of services posted up on a cork board somewhere, like a community center or the hardware store. Household professionals still post notices to those analog boards, but online, many list their services on .

Thumbtack filed an amended and restated certificate of incorporation to the Delaware Secretary of State’s office. The document, which was surfaced by the , authorizes Thumbtack to raise an additional $120 million in late-stage financing for the venture. The documents indicate that Thumbtack’s valuation—roughly $1.3 billion—remains mostly unchanged from its last financing round, a led by Scottish asset management firm Baillie Gifford back in 2015.

According to ºÚÁÏ³Ô¹Ï data, Thumbtack has raised $273.2 million in venture funding, not including the additional capital authorized in the restated certificate of incorporation. Kate Clark’s in TechCrunch cites Pitchbook data, which pegs Thumbtack’s total capital raised at $267.6 million. However, Pitchbook’s states that the company has raised “more than $270 million.”

Thumbtack’s prior investors include Sequoia Capital, CapitalG, and Tiger Global Management, among .

Founded in 2008 at the dawn of the current “gig economy” era, Thumbtack is getting a little long in the tooth, as far as private companies go. Venture capital funds typically invest on a ten year cycle, and seek liquidity after that. Thumbtack, and other billion-dollar “unicorns” of its same vintage, is probably feeling the pressure to either go public or get acquired.

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