In doing so, SmartAsset will become the largest marketplace for investors trying to find financial advisors and advisors trying to meet new prospective clients," said CEO and Co-Founder Michael Carvin. "This investment will accelerate our mission of becoming the web's premier resource for personal finance tools and content.
Powered by proprietary Automated Financial Modeling software, SmartAsset's tools, calculators, data-driven studies and educational content provide the web's best personal finance resources, directly to consumers. The six-year-old Y Combinator company provides personal finance information and tools to more than 45 million people each month. SmartAsset plans to use the funding to further grow its audience, as well as expand its fast growing SmartAdvisor platform, which matches consumers to financial advisors. This increases the total funding in the company to more than $51 million. The new investment comes from Focus Financial Partners (which is backed by Stone Point Capital and KKR), Javelin Venture Partners, TTV Capital, IA Capital and Citi Ventures, among others. Mark Johnson, TTV Capital Partner, says the company is rapidly expanding its leadership in one of the largest markets in the United States, providing incredibly valuable assets for both consumer and financial advisors.SmartAsset, the Internet's most-viewed financial technology company helping people make smarter financial decisions, has raised $28 million in Series C funding. It plans to increase its current headcount of 202 by more than 75% this year. The company plans to use the new capital to invest in new product offers, technology infrastructure and data sharing. So the pair launched SmartAsset to provide tools and materials to help them make better decisions about retirement, taxes, savings, home ownership and insurance. In an interview with Y Combinator (one of its supporters), how did he manage to join the military in search of a smart asset with Philip Camillary because of his frustration with information about buying a home and getting a mortgage “that was useful, accurate and neutral”? “The calculators had obvious flaws and the content looked like it was written by all the people who wanted me to figure out the biggest mortgage,” he added. Prior to starting the company, he worked at Carvin Finance. In addition to teaming up with consumers with its automated financial modeling software, SmartAsset claims to reach more than 100 million people each month with its personal money content, tools and “personalized” calculators. It recently matched its one millionth customer / advisor on its SmartAdvisor platform.Īlso in 2020, SmartAsset said it had allocated $10 billion in management advisory (AUM) to financial advisors and firms in the United States. Since then, it says it has increased revenue by “tenfold” and is now moving towards reaching ARR (annual recurring earnings) of $100 million.
The company was last raised in June 2018 – a $28 million Series C led by Focus Financial Partners.
Led by TTV Capital, SmartSet’s Series D included Javelin Venture Partners, Contour Venture Partners, City Ventures, New York Life Ventures, North Bridge Venture Partners, and CMFG Ventures. The funding valued New York-based SmartSet at more than $1 billion, bringing the total rose since 2012 to over $161 million, according to Crunchbase. SmartSet, a marketplace that connects customers with financial advisors, announced today that it has raised $110 million to fund the Series D round.