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Employer.com acquires MainStreet in a strategic move to strengthen its end-to-end back office platform.
The acquisition brings together two fintech companies focused on simplifying business operations for startups and small businesses. MainStreet, known for helping startups claim R&D tax credits, will now operate under Employer.com’s growing umbrella. The move aligns with Employer.com’s broader plan to unify essential back-office tools into one seamless platform.
Founded in 2019, San Jose-based MainStreet built early momentum by helping clients save thousands through research and development credits. Within a year, the startup crossed $1 million in ARR. At its peak in 2021, MainStreet pulled in $15 million in revenue and was valued at $500 million. But headwinds hit in 2022, triggering layoffs and a valuation dip.
Still, MainStreet remained profitable, according to Employer.com Chairman Jesse Tinsley, who confirmed the acquisition publicly. Backed by investors like SignalFire, Shrug, and Gradient Ventures, MainStreet raised $75 million before joining Employer.com’s fintech suite.
Employer.com continues its fintech buying spree
This is not the first acquisition by Employer.com. The San Francisco-based company, now valued at over $700 million, previously scooped up Bench, an accounting startup that abruptly collapsed, leaving users locked out. In January, Employer.com also pursued Level, another fintech casualty, though that deal fell through.
By acquiring MainStreet, Employer.com gains a product that automates access to complex tax incentives—a perfect match for its automation-first strategy. MainStreet’s 15-member team will be integrated into Employer.com’s 500-person workforce across its fintech verticals.
Tinsley says the mission is to build a “G Suite for the business back office”—a unified solution for payroll, tax, finance, and operations. The MainStreet acquisition fits squarely into that vision.
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Employer.com acquires MainStreet to cement fintech leadership
With competition tightening in fintech, Employer.com’s acquisition strategy signals bold intent. Not content with surviving market turbulence, the company is clearly aiming to consolidate and lead the business automation space.
MainStreet’s services complement Employer.com’s push to digitize complex financial processes. The synergy could give the combined platform an edge over single-focus competitors. The fact that Employer.com was part of a $30 billion bid to acquire TikTok, with partners like MrBeast, also hints at its ambitious outlook.
Back office automation may not sound sexy, but it’s quickly becoming essential for modern businesses. Employer.com’s acquisition of MainStreet just reinforces how valuable these tools are.
