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TaskRabbit Closes $13 Million Funding Round

Founders Fund led the round, bringing the online labor marketplace's total funding $38 million.

The team at TaskRabbit.



After closing its sixth round of funding, TaskRabbit is looking to make the hop across the pond.

The online task marketplace announced on Monday that it raised $13 million in Series C funding. The round was led by venture capital firm Founders Fund, and also included previous investors Shasta Ventures, Lightspeed Venture Partners, Baseline Ventures, Shervin Pishevar, and 500 Startups. 

The company's head of marketing, Jamie Viggiano, says the money will be used to expand the service within the U.S. and to London.

Viggiano says that TaskRabbit, which raised $18 million in series B financing in December, wasn't seeking additional funding. Rather, she says Founders Fund approached TaskRabbit, and that the funding deal was reached so the company could open in more locations and hire more workers, although Viggiano would not say how many employees the company plans to add.

At least one of the new hires will be at the executive level, likely a COO or a similar operations-based role, she says.

TaskRabbit allows users to post tasks and receive bids from those willing to complete them for money, and has become a somewhat popular option for many entrepreneurs and small businesses looking for cost-effective labor. 


IMAGE: Photo courtesy company
Last updated: Jul 23, 2012

JOHN MCDERMOTT is a business and culture reporter whose work has appeared in the Chicago Tribune and Playboy and on AOL.com. He recently moved from Chicago to Brooklyn, New York, to work for Inc.com.

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