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Employer.com has develop MainStreet.com for an unrevealed amount , the late fintech inauguration to get snapped up by theworkforce management troupe .
Ina post on X , Employer.com chairman and co - founder Jesse Tinsley said the two companies were “ commingle forces to simplify business back office solution into one powerhouse weapons platform . ” Tinsley confirmed the acquisition to TechCrunch .
sign of potential hassle appeared in 2022 when MainStreetlaid off about 30 % of its staff , citing “ an improbably rough market . ” At its prime in 2021 , MainStreet wasvalued at $ 500 million . The company was said to have close on a funding in 2022at a $ 200 million evaluation .
It ’s unclear what MainStreet ’s residue sheet looked like immediately prior to this acquisition , although Tinsley tell TechCrunch in an audience the company was profitable . In total , MainStreet raised about $ 75 million in known speculation capital from investors such as SignalFire , Tusk Ventures , Shrug , Moxxie Ventures , Weekend Fund , Gradient Ventures , Sound , and SV Angels .
One of MainStreet ’s investor insert the company to Employer.com , according to Tinsley . MainStreet ’s 15 - person team will be joining Employer.com as part of the dealing , which has about 500 employee across all its companies .
With the acquirement , Employer.com is valued at just north of $ 700 million , Tinsley said .
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The San Francisco - based ship’s company has been on a shopping fling recently .
In late 2024 , Employer.com harbinger it wasacquiring Bench , a VC - backed method of accounting startup that left thousands of customer locked out of their accounts after itsuddenly shut down , in a fervidness sale . Last calendar week , Bench conducteda troll of significant layoffs . And in January , Employer.com hadoffered to acquireLevel , a fintech startup that abruptly shut down after failing to see a buyer , but that spate did n’t go through .
“ When we originally started Employer.com and then bought Bench , the overarching theme … is basically automate an end - to - end platform for the G Suite for the business back office , ” he told TechCrunch in an interview . bribe MainStreet is in line of work 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 submittingan all - cash bidding for the app , consort to areportin Bloomberg . It ’s unclear what happened to that alleged buyout attempt , although Tinsley publiclyconfirmedin March that he was part of that $ 30 billion bid .
This storey was updated post - publishing to reflect MainStreet ’s exact financing amount .
