MainStreet’s $60 million Series A — helping entrepreneurs get back what they’re owed
Startups and small businesses are the engines of growth in our economy. They create jobs and propel our economy forward, accounting for the majority of new jobs created each year. But despite all that, they don’t get much help.
Every year, billions of dollars in government incentives are designed to help startups and small businesses grow, go unused, and unclaimed. The R&D Tax Credit program alone represents over $12 billion in rebates but only about $1 billion is actually claimed each year. . These programs across state, local, and federal government exist for a good reason, but they’re either too hard to access or too hard to find.
So while big companies like Amazon rack up millions of dollars each year in government incentives, early entrepreneurs are left out to dry — and leaving money on the table.
Late last year, CEO Doug Ludlow launched MainStreet to help level the playing field.
MainStreet helps startups of all shapes and sizes find and claim tax credits and incentives. Yes, you read that right: this is literally free money that exists to help companies grow their businesses and teams. Since launching late last year, MainStreet has already helped over 1,000 companies claim more than $80 million from over 200 tax credits.
MainStreet has helped over 1,000 companies claim more than $80 million from over 200 tax credits.
Doug and his team have created a quick, simple process and doesn’t cost businesses a dime upfront. MainStreet finds the money so its clients can reinvest it in their companies.
As early investors — and at a time where protecting local jobs and stimulating economies has never been more important — we’re incredibly excited to continue backing MainStreet in their latest financing round.
This new $60 million Series A, led by new investor SignalFire with participation from Gradient, Sound Ventures, Adam Bain and other existing investors, will allow MainStreet to keep building products that make it possible for all entrepreneurs to reap the same benefits that have only available to only the biggest companies until now.
The MainStreet team has grown more than four times since we first backed the company in 2020 and the team shows no signs of slowing down. Check out their careers page here and you can also read more about the company’s history, business model and story in Not Boring.
Lastly, if you or your portfolio companies haven’t done so already, you can use our partner link to get a free consultation from MainStreet and a discount on the success fee for any savings they find you (and they will find you something).
It’s free money — what are you waiting for?
