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Employer.com has acquired MainStreet.com for an undisclosed amount, the latest fintech startup to get snapped up by the workforce management company. In a post on X, Employer.com chairman and co-founder Jesse Tinsley said the two companies were “merging forces to simplify business back office solutions into one powerhouse platform.” MainStreet, a San Jose, California-based startup founded in 2019, built a business around helping startups uncover research and development tax credits. The startup generated revenue by taking a cut from the pool of credits. Signs of potential trouble appeared in 2022 when MainStreet laid off about 30% of its staff, citing “an incredibly rough market.” One of MainStreet’s investors introduced the company to Employer.com. With the acquisition, Employer.com is valued at just north of $700 million, Tinsley said.
Tech and VC heavyweights join the Disrupt 2025 agenda
The San Francisco-based company has been on a shopping spree recently. In late 2024, Employer.com announced it was acquiring Bench, a VC-backed accounting startup that left thousands of customers locked out of their accounts after it suddenly shut down, in a fire sale. Last week, Bench conducted a round of significant layoffs. And in January, Employer.com had offered to acquire Level, a fintech startup that abruptly shut down after failing to find a buyer, but that deal didn’t go through. “When we originally started Employer.com and then bought Bench, the overarching theme… is basically automating an end-to-end platform for the G Suite for the business back office,” he told TechCrunch in an interview. Buying MainStreet is in line 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 submitting an all-cash bid for the app, according to a report in Bloomberg. It’s unclear what happened to that alleged buyout attempt, although Tinsley publicly confirmed in March that he was part of that $30 billion bid. This story was updated post-publication to reflect MainStreet’s accurate funding amount.
