How we fix, maintain and improve our homes hasn’t kept up with how we live the rest of our lives: instantly, on our phones. Today, I’m thrilled to announce how that is going to change.
On the heels of incredible growth, we have secured a $275 million investment led by Qatar Investment Authority (QIA) and joined by Blackstone Alternative Asset Management (BAAM) as well as G Squared. Our prior investors and longtime champions Baillie Gifford, CapitalG, Founders Circle Capital, Sequoia Capital and Tiger Global also participated. With our business now valued at $3.2 billion, we will accelerate growth, innovation and adoption of our platform to usher in a modern era of home management.
Technology investment has poured into the process of buying and selling a home. Yet once homeowners get the keys to their castle, they’re left on their own. In an age where everything else is more connected, your home and the home services industry that serves it — a massive $500 billion sector — is still in its digital infancy.
What new homeowners learn quickly is that every house is a complex, unwieldy system that does not come with a manual. Faucets leak, walls crack, our tastes evolve, families outgrow square footage and the contexts of our lives change beyond our control. Managing our most valuable asset — our home — with confidence requires knowing what projects to do, when to do them and who to hire.
Thumbtack is in a unique position to help. Over the last decade, we have made it possible to instantly find and hire the right local professionals — folks who are qualified, interested and available. Now, our vision for the future is to be the only platform homeowners need to fix, maintain and improve their homes.
This is the vision that drives us. It’s the reason we made the bold decision to re-build Thumbtack from the ground up — from a digital bulletin board to a modern ecommerce experience. It’s why today we are the best place to hire a pro, instantly connecting a community of trustworthy local pros across 500 occupations with homeowners who need and value their services.
We are relentlessly focused on becoming the modern home management platform. We understand the complex needs of modern homeowners and how to make homeownership simpler, less stressful and more gratifying. From offering proactive, personalized maintenance solutions that stave off emergencies and keep your home running in peak condition all year, to bringing much-needed clarity and transparency to renovation projects, we want to deliver peace of mind for homeowners every step of the way.
I’m deeply grateful to everyone who has joined us on this journey (and encourage anyone who’s inspired to take part in our next chapter). I’ve never been more excited about what’s ahead.