Home management platform provider Thumbtack Inc. today revealed it has raised $275 million in a new late-stage round of funding.

Qatar Investment Authority led the Series G round. Other investors included Blackstone Alternative Asset Management, G Squared, Baillie Gifford, CapitalG (Alphabet), Founders Circle Capital, Sequoia Capital and Tiger Global Management. The round was raised at a valuation of $3.2 billion.

Founded in 2008, Thumbtack offers a platform that allows homeowners to manage their homes, advising them on what to do, when to do it and whom to hire. At its core, it’s a marketplace for services ranging from traditional home services such as painters, carpenters, plumbers and even piano and dance teachers.

The company pitches itself as overcoming the need to spend time researching, calling and comparing local service providers when a user needs one. Instead, users search for the service they want and are presented with a list of profiles, prices and use filters that match the project. Users can then chat with the service providers to discuss project details, check availability and hire them.

In the age of COVID-19 and people stuck at home, Thumbtack has seen strong growth. In the last 12 months, Thumbtack has grown revenue by more than 50%, off an undisclosed base, and is on track to generate more than $2 billion in revenue for local service providers this year.

“Over the last decade, we have made it possible to instantly find and hire the right local professionals — folks who are qualified, interested and available,” co-founder and Chief Executive Officer Marco Zappacosta said in a Medium post. “Now, our vision for the future is to be the only platform homeowners need to fix, maintain and improve their homes.”

Given the company’s age and its strong backing, Thumbtack is an obvious candidate to go public at some time in the next year or two. Zappacosta was asked in 2018 whether the company was looking at an initial public offering and declined to answer, saying only that going public was “one milestone.”

A thread on Blind in January has two responses from alleged Thumbtack employees, with one saying that the company planned to be “IPO ready” by the end of the first half. The other employee claims his manager told him that an IPO was definitely not happening this year.

Including the new funding, Thumbtack has raised $682.2 million to date based on data from Crunchbase.

Image: Thumbtack