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SmartAsset Raises $28 Million in Series C Funding, Doubling Its Venture Capital Backing

SmartAsset,
the Internet’s most-viewed financial technology company helping people
make smarter financial decisions, has raised $28 million in Series C
funding. 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. This increases the
total funding in the company to more than $51 million.

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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.

The six-year-old Y Combinator company provides personal finance
information and tools to more than 45 million people each month. 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.

“This investment will accelerate our mission of becoming the web’s
premier resource for personal finance tools and content. 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. “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.”

“Financial advisors currently have no reliable, easy-to-use digital
channels to grow their business. 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,” said Rajini
Kodialam, Co-Founder of Focus Financial Partners. “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.”

SmartAsset has experienced rapid growth in the six years since its
founding; over the past 12 months SmartAsset’s audience has grown by
90%. The company and its team have been the recipients of many industry
recognitions and awards including the Webby Awards and Benzinga Fintech
Awards. This year, the company became a six-time honoree of the Webby
Awards and a finalist for the Benzinga Fintech Awards, and its Vice
President of Content and Financial Education, AJ Smith, was named one of
Folio’s Top Women in Media.

About SmartAsset

SmartAsset is a financial technology company that empowers people with
automated personalized financial tools. Its proprietary technology,
industry leading research and patent-pending Automated Financial
Modeling software forecast the impact of different decisions on people’s
personal finances, enabling millions of people to make smart financial
decisions. Its SmartAdvisor service connects consumers with financial
advisors. For more information, visit www.SmartAsset.com.
To learn more about SmartAdvisor, visit https://SmartAsset.com/Financial-Advisor/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180620005845/en/