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Can Thumbtack take down Angie’s List? VCs’ $30M says yes

Image Credit: Thumbtack

Thumbtack, where you can find local professionals to hire for a variety of tasks, announced it has just raised $30 million in new funding.

It’s also finally releasing an iOS app, and it announced some growth numbers: a 300 percent spike in in projects accomplished over the past year.

Thumbtack is essentially a Yelp or Angie’s List with booking abilities built right in. Not only can you find the right plumber, voice coach, or knitting expert; you can also contact and hire them through the site. This functionality is how the company believes it distinguishes itself.

“Thumbtack is using technology to introduce people to experienced professionals to accomplish their personal projects,” said Marco Zappacosta, cofounder and chief executive of Thumbtack.

“There are many services that provide listings of professionals with ratings and phone numbers, but end there. Thumbtack goes much farther. Instead of just showing you information, we connect you with professionals ready to do your job within hours. We’re creating a whole new experience for customers,” said Zappacosta.

Just last week, former Digg chief executive Matt Williams announced a new similar project, Pro.com, which is currently limited to home improvement projects. Williams raised $3.5 million for his site from star investors such as Jeff Bezos and Andreesen Horowitz, reinforcing investor belief in products serving the service industries. Public company and competitor Angie’s List posted positive results for its first quarter earnings last month, including revenue and membership.

According to an statement, Thumbtack serves more than 700 categories of services, and its 63,000 paying professionals earn an estimated $1.8 billion worth of business annually. The average project size is around $600.

The company also said that it will use this latest round of funding to “significantly grow the team” (read: massive hiring) and invest in product development. Early investors Sequoia Capital and Tiger Global Management led the round.

Thumback was founded in 2008 by Marco Zappacosta, Jeremy Tunnell, Jonathan Swanson, and Sander Daniels. The company has raised a total of $49 million to date.

More about the companies and people from this article:

Sequoia Capital helps founders turn imaginative ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," the Sequoia team has worked closely with legendary founders such as Steve Jobs of Apple, Larry Ellison of O... read more »

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