ART Analysis: Airtasker Expands iHeartMedia Partnership and Raises $10M

Event: Airtasker Expands iHeartMedia Partnership and Raises $10M | Date: 2025-11-17 | Source: ASX Announcement

Airtasker Doubles Down on US Growth with Expanded iHeartMedia Partnership and $10M Placement

Airtasker Limited announced on 17 November 2025 an expansion of its strategic partnership with iHeartMedia, increasing the total media value to US$10 million from the initial US$5 million launched in August 2024. The partnership extension aims to accelerate Airtasker's US growth by leveraging iHeartMedia's platform for enhanced brand awareness and task volume, with the company reporting that the initial phase helped achieve an annualised run rate of A$7.5 million in US gross marketplace volume (GMV). Concurrently, Airtasker completed a A$10 million equity placement at A$0.30 per share, representing a 12.5% discount to the last closing price, with iHeartMedia participating as the lead investor. The capital raise will fund further US expansion and working capital needs, while the partnership includes ongoing equity incentives tied to performance milestones. Full details are available in the ASX announcement.

This follows Airtasker's strategy of using media partnerships for capital-efficient growth, with the US now supported by a portfolio including iHeartMedia, TelevisaUnivision, Sinclair, and Mercurius, totaling over US$32 million in media value. The announcement did not update full-year guidance but highlighted the potential to redefine consumer behaviour in the US market through innovation and a strong go-to-market plan.