iHeartMedia Helps Complete $10 Million Capital Raise For Airtasker

Airtasker Limited announced today the successful completion of a $10 million capital raise which was cornerstoned by iHeartMedia (America’s number one audio media company with over 276 million monthly listeners) alongside an expansion of Airtasker USA’s strategic partnership with iHeartMedia to accelerate Airtasker’s growth in the US.

The news comes on the back of Airtasker’s strong start to FY26, which saw Q1 Airtasker marketplaces revenue up 20.5% on pcp to $12.1 million, including 12.8% revenue growth in Australia and 136.2% revenue growth in Airtasker’s international markets (principally the UK and US).

Airtasker announced  the successful completion of a $10.0 million equity capital placement cornerstoned by iHeartMedia. Airtasker received strong demand for the Placement, including ongoing participation from Exto Partners, the Company’s largest shareholder, iHeartMedia and an allocation to both existing and new institutional and sophisticated investors.

The $10.0 million raised will be used to fund a disciplined program of targeted marketing investments in the US and UK and to provide Airtasker with additional balance sheet flexibility to invest alongside media partners into Airtasker’s US and UK subsidiaries and/or settle media partnership agreements.

Commenting on the announcement, Airtasker CEO Tim Fung said, “We’re thrilled today to announce this $10.0 million capital raise, backed by iHeartMedia, Exto Partners and a great group of new and existing institutional and sophisticated investors who believe in Airtasker’s mission and the opportunity to replicate the profitable business we’ve built in Australia into even larger markets in the US and UK.

“We’ve already seen incredible growth in both the US and UK markets which hit a combined $28.0 million in GMV ARR in June 2025 and this additional investment will enable us to further accelerate from here. Let’s do this.”

Airtasker also announced today the expansion of its strategic partnership with iHeartMedia, Inc. which will provide Airtasker USA Inc (Airtasker USA) with an additional US$5.0 million (A$7.6 million) in media and advertising resources to further accelerate Airtasker’s growth across the US.

This follows the initial US$5.0 million partnership announced in August 2024, which enabled Airtasker USA to accelerate growth and achieve an annualised GMV run rate of A$7.5 million in June 2025. Through this partnership, Airtasker gains access to potential promotion across:

• 860 broadcast and streaming stations in 160 US cities, reaching nine in 10 Americans monthly;
• The world’s no. 1 podcast publisher with over 378 million monthly downloads;
• Major pop culture events such as the iHeartRadio music awards and iHeartRadio music festival.

David Ellis, executive vice president of Ventures at iHeartMedia, said, “Airtasker’s strength in Australia shows how a fundamentally better marketplace can reshape consumer behaviour. As the company accelerates in the US, we see a clear opportunity to redefine expectations and win the category through innovation and a strong go-to-market plan.”

This expanded US partnership builds on Airtasker’s global strategic media partnership strategy, which also includes partnerships with TelevisaUnivision, Sinclair Broadcast Group and Mercurius Media Capital in the US, Channel 4 in the UK, and oOh!media.

Today’s announcements come on the back of Airtasker’s strong start to FY26. In the first quarter of FY26, Airtasker marketplaces revenue grew 20.5% on pcp to $12.1 million including 12.8% revenue growth in Australia and 136.2% revenue growth in Airtasker’s international markets (principally the UK and US).

In Australia, Airtasker’s core business continues to demonstrate its cash-generating strength with 1Q26 revenue up 12.8% on pcp to $10.6 million, and the Australian marketplace cash generation (after covering global head office costs) increased further $0.2m on pcp to $2.5m positive cash generation in the first quarter. Internationally, Airtasker’s global playbook is delivering impressive results.

In 1Q26 UK revenue grew 83.3% on pcp while US revenue surged 609% on pcp supported by powerful strategic alliances with global media companies in the UK (Channel 4) and the US (iHeartMedia, TelevisaUnivision, Sinclair Broadcast Group and Mercurius Media Capital.) These strong results reinforce the power of Airtasker’s capital-light marketplace model and the scalability of its international growth strategy.

Having proven the profitability and scalability of the model in Australia, Airtasker is now leveraging its scalable software platform and investing cash generated in its Australian business to scale into 10x larger markets, turbocharged by strategic alliances with global media partners.

Airtasker is now well-positioned to accelerate growth efficiently and sustainably across multiple regions, driving compounding network effects and long-term value creation.