INSUBCONTINENT EXCLUSIVE:
Employer.com has acquired MainStreet.com for an undisclosed amount, the latest fintech startup to get snapped up by the workforce management
California-based startup founded in 2019, built a business around helping startups uncover research and development tax credits
The startup generated revenue by taking a cut from the pool of credits
MainStreet had some success in its first year, crossing the $1 million ARR run rate threshold and helping the average client save $51,000
like immediately prior to this acquisition, although Tinsley told A Technology NewsRoom in an interview the company was profitable
In total, MainStreet raised about $75 million in known venture capital from investors such as SignalFire, Tusk Ventures, Shrug, Moxxie
companies.With the acquisition, Employer.com is valued at just north of $700 million, Tinsley said.Techcrunch eventBerkeley, CA|June 5BOOK
NOWThe San Francisco-based company has been on a shopping spree recently.In late 2024, Employer.com announced it was acquiring Bench, a
VC-backed accounting startup that left thousands of customers locked out of their accounts after it suddenly shut down, in a fire sale
Last week, Bench conducted a round of significant layoffs
And in January, Employer.com had offered to acquireLevel, a fintech startup that abruptly shut down after failing to find a buyer, but that
Buying MainStreet is in line with that goal, Tinsley said.In late January, Tinsley and Employer.com was reportedly teaming up with YouTuber
MrBeast and others to save TikTok by submitting an all-cash bid for the app, according to a report in Bloomberg
