SmartAsset operates a consumer-to-advisor marketplace and personal finance content platform that uses Automated Financial Modeling and its SmartAdvisor product to pair consumers with financial advisors. The company reaches over 100 million people each month through content, tools and personalized calculators, and recently made its one millionth consumer/advisor match. Since a $28 million Series C in June 2018, SmartAsset says it has grown revenue tenfold and is on the cusp of reaching $100 million in ARR; in 2020 it referred $10 billion in new, closed AUM to advisors and firms. Founded in 2012 and based in New York, SmartAsset currently has about 202 employees and plans to increase headcount by more than 75% this year. The company intends to use new capital to invest in new product offerings, technology infrastructure and data partnerships. Its founders, Michael Carvin and Philip Camilleri, launched SmartAsset to provide accurate, unbiased tools and content for decisions on retirement, taxes, savings, homeownership and insurance. SmartAsset builds consumer-facing personal finance tools, calculators and content across categories including homebuying, taxes, retirement and banking. Its revenue mix includes promoting financial products like mortgages and the SmartAdvisor platform that connects potential investors with financial advisors. SmartAdvisor is described as a digital lead-generation platform where users complete a questionnaire and work with a concierge to find a screened advisor. The company vets advisors for issues such as criminal violations and SEC complaints over the prior decade. SmartAsset reported more than 45 million unique visitors in the most recent month, nearly doubling traffic year-over-year, with 25% repeat visitors. The company says it will continue building the web’s premiere personal finance resources and leverage that audience on the advisor side. SmartAsset builds a proprietary Automated Financial Modeling (AFM) platform that simulates the financial impact of consumer decisions and delivers personalized advice across personal finance verticals. The company offers tools for home buying, retirement planning, life insurance, personal loans, student loans, credit cards, loan refinance, taxes and investing, and plans to expand into auto and health insurance. SmartAsset recently launched Captivate, which automatically embeds interactive calculators and data visualizations into publisher articles by crawling content for relevant matches. Captivate has been adopted by partners including AOL, CNN and Investopedia. The company says its platform now reaches more than 40 million people per month. SmartAsset will use the new funding to grow the team and expand the capabilities of AFM and Captivate. SmartAsset is a technology platform that applies financial modeling to deliver instant, personalized answers for home buying, refinancing, student loans, insurance, retirement and credit card decisions. Launched in 2012 by CEO Michael Carvin, the platform currently helps answer 79 questions, including life-changing financial decisions like home buying and retirement planning. The company closed a $5.2M Series A financing to support its growth. SmartAsset intends to use the funds to further expand and improve its solution, grow its team and increase marketing efforts. The product focus is on enabling consumers to make fact-based financial decisions via its modeling technology. SmartAsset provides interactive, location‑tailored calculators and tools that take users’ basic financial information and show affordability, down‑payment options, tax implications, and the long‑term cost of renting versus buying. The company is Y Combinator‑backed and was co‑founded by CEO Michael Carvin, who built the product based on his own home‑buying experience. SmartAsset raised $1.5M in new funding and has now raised a total of $2.4M. The round was led by Javelin Venture Partners and North Bridge Venture Partners, and Javelin Managing Director Jed Katz is joining the company’s board. SmartAsset reported more than 20,000 users last month. Over the next three months it plans to add new features to its home‑buying guide and then launch similar tools for college and further education. The company also published a separate tool to help entrepreneurs calculate how fundraising terms affect their outcomes.

Total raised

$158M

Funding rounds

6

Latest round

Series D

Latest activity

Jun 2021