Employer.com, the emerging powerhouse in fintech and workforce management technology, today onboards top-rated local startup MainStreet.com to its fast-growing fold. Founded in 2019, MainStreet based its entire company on helping startups find cash-creating R&D tax credits. The acquisition is an important step forward for Employer.com as it strengthens the organization’s overall service offerings to the business community.
Like many national initiatives, MainStreet got off to a hopeful start. Within its first year, it got to a run rate of more than $1 million in ARR. By 2021, the company’s revenue had skyrocketed over $15 million. MainStreet’s innovative solutions have saved their clients an average of $51,000 – that’s serious money for a business. At its height in 2021, MainStreet was a $500 million dollar company, but things went south in the years after. Last year, the company went on to raise a $200 million round of financing. Yet, it was forced to fire 30% of its employees, calling “an unbelievably difficult market” the cause.
MainStreet managed to raise around $75 million in venture capital along its journey. Other notable investors include SignalFire, Tusk Ventures, Shrug, Moxxie Ventures, Weekend Fund, Gradient Ventures, Sound, SV Angels. The company’s highly regarded 15-person team will simply become part of the Employer.com family as one of the goals of the acquisition transaction. Employer.com now employs a team of close to 500 people under the umbrella of their numerous businesses.
The introduction of MainStreet to Employer.com was made through one of its investors. That acquisition was already approved by Jesse Tinsley, who on the strategic advantage that merger adds opined.
“We are merging forces to simplify business back office solutions into one powerhouse platform.” – Jesse Tinsley
MainStreet’s startup journey has received the publicity from very well-known outlets including TechCrunch, Forbes, and Silicon Valley Business Journal. About the Author Reporter Mary Ann Azevedo has more than two decades of experience in business reporting and editing. Her knowledge brings an invaluable depth of credibility to MainStreet’s journey story.
