Total amount raised
$8.5 Billions
Latest funding date
Location
Intuit has successfully raised funds through various rounds, including a notable Post-IPO Debt round. The company has attracted investments from prominent firms such as JP Morgan Chase and Kleiner Perkins.
Keep reading to explore the intricacies of Intuit's fundraising journey and the investors backing this financial software giant.
What Is Intuit?
Intuit, founded in March 1983 by Scott Cook and Tom Proulx, is headquartered in Mountain View, California. The company specializes in financial software solutions designed to empower individuals and businesses.
Intuit's product lineup includes well-known names like TurboTax, QuickBooks, Credit Karma, and Mailchimp, serving a diverse customer base. The company aims to enhance financial confidence through its comprehensive suite of tools.
With a workforce exceeding 10,000 employees, Intuit continues to innovate and expand its offerings, maintaining a strong presence in the financial software industry.
How Much Funding Has Intuit Raised?
- Series A
- Amount Raised: $12M
- Date: September 1991
- Lead Investors: Kleiner Perkins, Sierra Ventures, Technology Venture Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand product offerings.
- Angel Round
- Amount Raised: $151K
- Date: September 1984
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product and market entry.
- Post-IPO Equity
- Amount Raised: $6.7M
- Date: January 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund new product development and market expansion.
- Post-IPO Debt
- Amount Raised: $4B
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
- Post-IPO Debt
- Amount Raised: $4.5B
- Date: January 2025
- Lead Investors: JP Morgan Chase
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund TurboTax 5-Day Early Refund offering.
Intuit has raised a total of $8.67B. The current valuation is Not publicly disclosed.
Key Investors
- JP Morgan Chase
- Details: JP Morgan Chase is a global financial services firm offering investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity. It is one of the largest banks in the United States and has a significant presence worldwide.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Amazon, Facebook, Uber.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm specializing in investments in early-stage, growth, and incubation companies. It has a long history of backing successful technology and life sciences companies.
- Investment Focus Areas: Technology, life sciences, cleantech.
- Notable Investments: Google, Amazon, Twitter.
- Sierra Ventures
- Details: Sierra Ventures is a venture capital firm that focuses on early-stage technology companies. It has been investing in innovative startups for over three decades.
- Investment Focus Areas: Enterprise software, cloud computing, cybersecurity.
- Notable Investments: Sourcefire, Intuit, MakeMyTrip.
- Technology Venture Investors
- Details: Technology Venture Investors is a venture capital firm that invests in early-stage technology companies. It has a track record of supporting startups that go on to become industry leaders.
- Investment Focus Areas: Early-stage technology, software, hardware.
- Notable Investments: Not publicly disclosed.
What's Next for Intuit?
Intuit's recent $4.5 billion credit facility marks a significant opportunity to enhance its TurboTax 5-Day Early program, allowing users to access tax refunds faster. This initiative aligns with the growing trend of providing quicker financial services, potentially attracting a larger customer base and increasing market share.
Future fundraising efforts could be bolstered by this successful credit arrangement, positioning Intuit for further financial flexibility. However, challenges such as managing the credit facility effectively and navigating regulatory requirements remain. As Intuit continues to innovate, maintaining customer trust and compliance will be crucial for sustained growth.
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