AirTasker Expands with $6M U.S. Investment

Deal News | Dec 07, 2024 | Aim Group

Australia-based AirTasker has secured a $6 million investment from California's Mercurius Media Capital to expand its gig economy platform into the U.S. The U.S. gig market, valued over $1 trillion annually, includes prominent companies like Uber and DoorDash. AirTasker aims to replicate its Australian success by offering local task services similar to TaskRabbit and Roadie. Piyush Puri of Mercurius Media Capital, an investment firm focusing on growth-stage startups, sees AirTasker's expansion into the U.K. and U.S. markets as a step toward becoming a global gig leader. AirTasker founder Tim Fung believes MMC's media capital model—where media exposure and startup equity are exchanged—will be instrumental in delivering new job opportunities. AirTasker offers tasks ranging from technologically complex projects like PC builds to simple errands such as buying gum, aiming to cater to individuals seeking temporary or small task-based employment.

Sectors

  • Gig Economy
  • Investment
  • Media

Geography

  • United States – The article pertains to AirTasker's expansion into the U.S. market.
  • Australia – AirTasker is originally based in Australia, where it has seen considerable success.
  • United Kingdom – AirTasker has expanded into the U.K., indicating a pattern of international growth.

Industry

  • Gig Economy – AirTasker operates within the gig economy sector, providing a platform for short-term, flexible jobs often completed by independent workers.
  • Investment – The article discusses an investment transaction, with Mercurius Media Capital funding AirTasker's U.S. expansion.
  • Media – Mercurius Media Capital uses a media capital model, integrating media and investment to accelerate startup growth.

Financials

  • $6 million – Investment amount from Mercurius Media Capital to AirTasker.

Participants

NameRoleTypeDescription
AirTaskerTarget CompanyCompanyAn Australian-based gig economy platform expanding into the U.S.
Mercurius Media CapitalInvestorCompanyCalifornia-based investment firm providing $6M funding to AirTasker.
Piyush PuriInvestorPersonFounding partner of Mercurius Media Capital.
Tim FungFounderPersonFounder of AirTasker.