Total amount raised
$172 Millions
Latest funding date
10/1/2022
Location
Tally has successfully raised significant funding over multiple rounds, including a Series D, with backing from investors such as Menora Mivtachim and Cowboy Ventures. The platform was designed to help members pay off their credit card debt through financial automation.
Keep reading to explore the intricacies of Tally's fundraising journey and the investors backing this innovative platform.
What Is Tally?
Tally, founded in 2015 by Jason Brown and Jasper Platz, is headquartered in San Francisco, California. The company specializes in financial automation, helping members pay off their credit card debt through innovative technology. With a team of 101-250 employees, Tally aims to automate people's entire financial lives.
How Much Funding Has Tally Raised?
- Seed Round
- Amount Raised: $2M
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
- Series A
- Amount Raised: $15M
- Date: May 2016
- Lead Investors: Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the team.
- Series B
- Amount Raised: $25M
- Date: July 2018
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the technology and increase market penetration.
- Series C
- Amount Raised: $50M
- Date: June 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: $280M
- Motivation Behind the Round: To further develop the platform and expand customer acquisition efforts.
- Series D
- Amount Raised: $80M
- Date: October 2022
- Lead Investors: Sway Ventures
- Valuation at Round: $855M
- Motivation Behind the Round: To invest in additional engineering talent and expand offerings to cover more types of debt, including student loans.
Total Amount Raised: $172M. Current Valuation: $855M.
Key Investors
- Sway Ventures
- Details: Sway Ventures is a venture capital firm that invests in early to mid-stage technology companies. They led Tally's $80 million Series D funding round.
- Investment Focus Areas: Technology, fintech, innovation.
- Notable Investments: Addepar, Airspace Technologies, Tally Technologies.
- Menora Mivtachim
- Details: Menora Mivtachim is an Israeli insurance and financial services group. They participated in Tally's Series D funding round.
- Investment Focus Areas: Insurance, financial services, technology.
- Notable Investments: Not publicly disclosed.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm specializing in early-stage and growth companies. They have been an investor in Tally since the Series B round.
- Investment Focus Areas: Technology, life sciences, high-growth industries.
- Notable Investments: Google, Amazon, Twitter.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm investing in early-stage startups and established growth companies. They led Tally's Series C funding round.
- Investment Focus Areas: Technology, software, consumer, enterprise sectors.
- Notable Investments: Facebook, Airbnb, Lyft.
- Shasta Ventures
- Details: Shasta Ventures is a venture capital firm that invests in early-stage technology companies. They led Tally's Series A funding round.
- Investment Focus Areas: Consumer technology, enterprise technology.
- Notable Investments: Anaplan, Nextdoor, Zuora.
What's Next for Tally?
Tally stands at the cusp of significant growth opportunities, driven by the rising tide of consumer debt and the increasing demand for financial automation. With over 30% of Americans grappling with interest-bearing credit card debt, Tally's automated debt pay-down system is poised to make a substantial impact. The company’s recent $80 million Series D funding round, which tripled its valuation to $855 million, underscores the vast potential for expansion into new debt categories like student loans and further market penetration.
Future fundraising opportunities appear promising as Tally continues to demonstrate its effectiveness in reducing consumer debt. The company’s strong performance metrics and investor confidence suggest that additional funding rounds could be on the horizon, enabling Tally to scale its operations and enhance its technology. However, challenges such as economic fluctuations, regulatory changes, and competition from other fintech companies could pose hurdles. Navigating these challenges will be crucial for Tally as it aims to solidify its position in the financial technology sector.
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