Employer.com is expanding its mission to simplify business operations. The workforce management platform has acquired MainStreet.com, a fintech startup known for helping companies unlock R&D tax credits. The deal’s value remains undisclosed.
Co-founder Jesse Tinsley shared the news on X, calling it a powerful merger aimed at building the ultimate back office automation platform. With this acquisition, Employer.com continues its push to automate tedious business processes.
MainStreet was founded in 2019 in San Jose. The startup quickly gained traction by helping other startups claim research and development tax credits. It charged a percentage of the savings found, saving clients an average of $51,000 each. Within a year, it hit $1 million in annual recurring revenue (ARR). By 2021, it crossed $15 million in revenue and hit a $500 million valuation.
But things shifted in 2022. MainStreet laid off 30% of its staff amid a tough market. Its valuation also dropped to $200 million after a funding round. Despite the setbacks, Tinsley said the company was profitable before the acquisition.
MainStreet had raised $75 million from big-name investors like SignalFire, Tusk Ventures, Gradient Ventures, Sound Ventures, and SV Angel. One of those investors helped make the connection with Employer.com.
All 15 MainStreet employees will join Employer.com. With this addition, the company now has about 500 employees across its divisions. The acquisition also boosts Employer.com’s valuation to over $700 million.
This isn’t the company’s first fintech deal. In late 2024, it acquired Bench, an accounting startup that suddenly shut down. That shutdown left customers without support. Bench also carried out major layoffs. Earlier this year, Employer.com explored buying Level, another struggling fintech, but that deal didn’t go through.
Tinsley says the goal is simple—build an end-to-end platform for back office operations. He wants it to be the “G Suite” of business tools, combining accounting, HR, tax, and finance into one system.
Tinsley has also made headlines outside fintech. In January, he reportedly joined a $30 billion bid—alongside YouTuber MrBeast and others—to acquire TikTok. He later confirmed his involvement, though the status of the deal is unclear.
With MainStreet in the fold, Employer.com is getting closer to offering a one-stop shop for startup back office needs.
