Total amount raised
$19.6 Millions
Latest funding date
09/01/2016
Location
Title
SmartAsset has successfully raised significant funding over multiple rounds, establishing itself as a key player in the financial technology sector. The platform offers a comprehensive suite of tools and resources designed to help users make informed financial decisions.
Keep reading to explore the intricacies of SmartAsset's fundraising journey and the investors backing this innovative platform.
What Is SmartAsset?
SmartAsset, founded in 2012, is headquartered in New York City. The company was established by Michael Carvin and Philip Camilleri.
SmartAsset provides a range of financial tools and resources, including calculators and guides, to help users make informed financial decisions. The platform also connects users with vetted fiduciary financial advisors.
With a team of over 200 employees, SmartAsset continues to grow and innovate in the financial technology sector.
How Much Funding Has SmartAsset Raised?
- Seed Funding Round
- Amount Raised: $900,000
- Date: August 2012
- Lead Investors: Y Combinator, Quotidian Ventures, and New York- and Silicon Valley-based angels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and expansion of SmartAsset's interactive tools for financial decision-making, particularly in the homebuying process.
- First Funding Round
- Amount Raised: $1.5 million
- Date: October 2012
- Lead Investors: Javelin Venture Partners and North Bridge Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand SmartAsset's financial tools and add new features to its home buying guide, and to develop similar tools for college and further education.
- Series B Funding Round
- Amount Raised: $20 million
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance its suite of financial tools and resources.
Total Amount Raised: $22.4 million
Current Valuation: Not publicly disclosed
Key Investors
- Javelin Venture Partners
- Details: Javelin Venture Partners is a venture capital firm that led SmartAsset's first funding round. The firm is known for its focus on early-stage investments.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: MasterClass, Thumbtack, Clutter
- North Bridge Venture Partners
- Details: North Bridge Venture Partners is a venture capital firm that co-led SmartAsset's first funding round. They invest in early-stage and growth-stage technology companies.
- Investment Focus Areas: Technology, software, communications
- Notable Investments: Acquia, Dyn, Demandware
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that provides seed funding, advice, and connections to early-stage startups. They have been a key backer of SmartAsset since its inception.
- Investment Focus Areas: Technology, software, consumer
- Notable Investments: Dropbox, Airbnb, Stripe
- Peterson Ventures
- Details: Peterson Ventures is a venture capital firm that participated in SmartAsset's funding rounds. They focus on early-stage investments in technology and consumer companies.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Allbirds, Ethos, Lucid
- Quotidian Ventures
- Details: Quotidian Ventures is a venture capital firm that invests in early-stage technology companies. They have been involved in multiple funding rounds for SmartAsset.
- Investment Focus Areas: Technology, software, fintech
- Notable Investments: Canary, Managed by Q, TripleLift
What's Next for SmartAsset?
SmartAsset is poised to capitalize on the growing demand for personalized financial advice. With plans to expand their suite of tools beyond homebuying to areas like college and further education, the company is tapping into a vast market with significant growth potential. The increasing reliance on digital platforms for financial decision-making presents a substantial opportunity for SmartAsset to attract more users and advertisers.
Future fundraising efforts are likely as the company continues to innovate and scale its offerings. However, challenges such as competition from other financial tools and the need to continuously update their platform to meet user demands could pose hurdles. Despite these challenges, SmartAsset's strong investor backing and proven track record suggest a promising path forward.
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