TaskRabbit operates an online labor marketplace that matches pre-screened 'Runners' with people who need tasks completed. The platform exposes an API that third parties use to outsource tasks (examples cited include Astrid and Producteev). TaskRabbit has expanded from its Boston origins to outposts in Austin, Chicago, Los Angeles, Orange County, New York City, Portland, San Antonio, Seattle and San Francisco and grown from two to 53 employees over four years. The company recently launched Deliver Now to offer anytime delivery and compete with Postmates, and is planning to tailor the platform around verticals such as household chores. Reinstated CEO Leah Busque says the company will use new funding for aggressive expansion, including international entry into London. Financially, TaskRabbit has raised a total of $38M following the new $13M C-round. TaskRabbit operates a peer-to-peer marketplace for real-world labor where people post tasks and local contractors (“Runners”) bid to complete them. The service is live in five U.S. cities (Boston, New York, Chicago, San Francisco and Los Angeles) with over 2,000 Runners and sees about 9,000 tasks per month. The company monetizes by taking a 13%–30% fee on completed tasks and has tripled net revenue since its Series A in May. TaskRabbit is investing its new capital in mobile: building an Android app and refining its iOS experience. The team is roughly 35 people and plans to hire 25–30 more in product, engineering and design. Management is pursuing aggressive U.S. expansion (Seattle, Portland, Austin, Atlanta) and has stated intentions to expand internationally. TaskRabbit is a two-way online marketplace that connects people who need tasks done with vetted task "runners" through a posting, bidding and payment platform. Runners undergo a three-step background check and the platform includes messaging, alerts, payments, reputations, gamification (points, leaderboards), meetups and text notifications to keep participants engaged. The service has a community of over 1,500 task runners and handles thousands of tasks posted monthly, with an average task response time of 10 minutes. It monetizes by taking a 15% fee on tasks and has raised $1.8M in seed/angel funding plus a $5M Series A. Founder Leah Busque plans to use the new financing to expand beyond San Francisco and Boston and to double the company's 13-person team, hiring engineers and sales. Shasta Ventures led the Series A and its partner Sean Flynn will join TaskRabbit's board. TaskRabbit operates a marketplace that pairs users with part-time personal assistants (called runners) who complete errands and a growing set of virtual tasks. The service has more than 300 runners and accepts tasks from thousands of users in Boston and San Francisco, with San Francisco matching Boston in task volume. TaskRabbit takes a 12–28% cut of each paid task; the average task pays $20–$25 and top runners can earn more than $20,000 a year. Runners undergo background checks, are classified as independent laborers, and are paid only after users confirm task completion; over 80% of customers are repeat users. The company, founded in Boston, has expanded to the San Francisco Bay Area and plans further expansion to cities such as Chicago, Austin, and Portland. Product experiments include group buying and a potential “panic button”; the company is not yet profitable.

Total raised

$37M

Funding rounds

4

Latest round

Series C

Latest activity

Jul 2012