{"id":75921,"date":"2025-05-06T02:27:55","date_gmt":"2025-05-06T02:27:55","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2025\/05\/06\/employer-com-scoops-up-another-fintech-in-purchase-of-mainstreet-com\/"},"modified":"2025-05-06T02:29:07","modified_gmt":"2025-05-06T02:29:07","slug":"employer-com-scoops-up-another-fintech-in-purchase-of-mainstreet-com","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2025\/05\/06\/employer-com-scoops-up-another-fintech-in-purchase-of-mainstreet-com\/","title":{"rendered":"Employer.com scoops up another fintech in purchase of MainStreet.com"},"content":{"rendered":"

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Employer.com has acquired MainStreet.com for an undisclosed quantity, the most recent fintech startup to get snapped up by the workforce management company<\/a>.<\/p>\n

In a post on X<\/a>, Employer.com Chairman and co-founder Jesse Tinsley mentioned the 2 firms have been \u201cmerging forces to simplify enterprise again workplace options into one powerhouse platform.\u201d Tinsley confirmed the acquisition to TechCrunch.<\/p>\n

MainStreet<\/a>, a San Jose, California-based startup based in 2019, constructed a enterprise round serving to startups uncover analysis and improvement tax credit. The startup generated income by taking a put from the pool of credit. MainStreet had some success in its first year<\/a>, crossing the $1 million ARR run fee threshold and serving to the common shopper save $51,000. In 2021, MainStreet\u2019s income crossed $15 million, per industry newsletter Not Boring.<\/a><\/p>\n

Indicators of potential bother appeared in 2022 when MainStreet laid off about 30% of its staff<\/a>, citing \u201can extremely tough market.\u201d At its prime in 2021, MainStreet was valued at $500 million<\/a>. The corporate was mentioned to have closed on a financing in 2022 at a $200 million valuation<\/a>. <\/p>\n

It\u2019s unclear what MainStreet\u2019s stability sheet appeared like instantly previous to this acquisition, though Tinsley advised TechCrunch in an interview the corporate was worthwhile. In whole, MainStreet raised about $75 million in identified enterprise capital from traders similar to SignalFire, Tusk Ventures, Shrug, Moxxie Ventures, Weekend Fund, Gradient Ventures, Sound and SV Angels.<\/p>\n

Certainly one of MainStreet\u2019s traders launched the corporate to Employer.com, in keeping with Tinsley. MainStreet\u2019s 15-person group can be becoming a member of Employer.com as a part of the transaction, which has about 500 staff throughout all its firms.<\/p>\n

With the acquisition, Employer.com is valued at simply north of $700 million, Tinsley mentioned.<\/p>\n

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Techcrunch occasion<\/p>\n

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The San Francisco-based firm has been on a buying spree not too long ago.<\/p>\n

In late 2024, Employer.com introduced it was acquiring Bench<\/a>, a VC-backed accounting startup that left 1000’s of consumers locked out of their accounts after it suddenly shut down<\/a>, in a fireplace sale. Final week, Bench performed a round of significant layoffs<\/a>. And in January, Employer.com had offered to acquire<\/a> Level<\/a>, a fintech startup that abruptly shut down after failing to discover a purchaser however that deal didn\u2019t undergo.<\/p>\n

\u201cAfter we initially began Employer.com after which purchased Bench, the overarching theme\u2026 is principally automating an end-to-end platform for the G Suite for the enterprise again workplace,\u201d he advised TechCrunch in an interview. Shopping for MainStreet is consistent with that objective, Tinsley mentioned.<\/p>\n

In late January, Tinsley and Employer.com was reportedly teaming up with YouTuber MrBeast and others to avoid wasting TikTok by submitting an all-cash bid for the app<\/a>, in keeping with a report<\/a> in Bloomberg. It\u2019s unclear what occurred to that alleged buyout try though Tinsley publicly confirmed<\/a> in March that he was a part of that $30 billion bid.<\/p>\n

This story was up to date post-publication to mirror MainStreet\u2019s correct funding quantity<\/em><\/p>\n<\/div>\n