Thumbtack, a San Francisco, CA-based technology company enabling people to improve their homes, received $75m in financing.
Silicon Valley Bank (SVB), a division of First Citizens Bank, and Hercules Capital, Inc. (NYSE: HTGC) provided the debt facility.
Thumbtack is a technology company providing people with tools to complete small fixes, routine maintenance, and major improvements for their homes. Homeowners get personalized guidance on what to do and when to do it as well as who to hire from a community of 300,000 local service businesses.
The new financing follows Thumbtack’s best fiscal year to date. In 2023, the company surpassed $300m in revenue and achieved EBITDA profitability. Earlier this year, Thumbtack launched a product update, which included 30 new features. The new app provides homeowners with personalized recommendations on what projects to do, when to do them, and who to hire based on their home, location, and goals. Everything is built on top of an Instant Book ecommerce engine, which enables homeowners to confirm projects in seconds across more than 100 categories including roofing, electrical, landscaping, and home organizing, helping homeowners move past procrastination and get more done.
FinSMEs
01/08/2024