When a match is found, Captivate automatically embeds a fully interactive calculator or data visualization directly into the article. The solution works by crawling content and looking for articles that are relevant to SmartAsset’s financial tools. Captivate enables publishers to host SmartAsset tools within relevant articles. In addition to the suite of financial tools, SmartAsset recently launched its rapidly growing Captivate platform. SmartAsset plans to grow into the auto and health insurance verticals as well. The company currently offers advice across a number of personal finance verticals, including: home buying, retirement planning, life insurance, personal loans, student loans, credit cards, loan refinance, taxes and investing.
SmartAsset’s patent-pending AFM technology simulates the financial impact of different consumer decisions. With our platform now reaching more than 40 million people per month, it is incredible to see that vision becoming a reality,” he added. “We started this company in the wake of the Great Recession to use technology and data to bring dramatically better financial advice to people. “It’s an incredible endorsement of our strategy and mission to have such a strong group of Venture and Strategic Investors in this round,” said Michael Carvin, CEO and co-founder of SmartAsset. The company has now raised over $20 million, and will use the new funding to grow the team, expand the capability of its proprietary Automated Financial Modeling (“AFM”) platform and grow Captivate – the company’s recently launched solution for publishers.
The round is led by IA Capital Group with participation from TTV Capital, Contour Ventures, Javelin Venture Partners, New York Life, Transamerica Ventures and Fitz Gate Ventures. SmartAsset has experienced rapid growth in the six years since its founding over the past 12 months SmartAsset’s audience has grown by 90%.īottom Line: Transamerica Ventures and New York Life Ventures are backers.SmartAsset, the financial technology company empowering people with personalized financial advice, announced today that it has raised $12 million in Series B funding. Given the size of SmartAsset’s audience, the SmartAdvisor platform clearly has the potential to meaningfully change how advisors approach marketing and business development in the digital age.” – cofounder of Focus Financial Partners, Rajini Kodialam. We see a tremendous opportunity for SmartAsset to create the web’s first digital platform to help advisors add new clients in a profitable and scalable fashion. “Financial advisors currently have no reliable, easy-to-use digital channels to grow their business. We could not be happier to have the support of new and existing investors, bringing with them the expertise and acumen needed for us to accelerate our growth.” – cofounder and CEO, Michael Carvin. In doing so, SmartAsset will become the largest marketplace for investors trying to find financial advisors and advisors trying to meet new prospective clients. “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. This increases the total funding in the company to more than $51M. 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. SmartAsset, the financial technology company helping people make smarter financial decisions, has raised $28m in a Series C round.
Transamerica Ventures SmartAsset Raises $28M Series C
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