SmartAsset, a marketplace that connects consumers to financial advisors, announced today that it has raised $110 million in a Series D round of fundin

SmartAsset rethinks financial advisory, and becomes a unicorn in the process

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2021-07-05 03:00:18

SmartAsset, a marketplace that connects consumers to financial advisors, announced today that it has raised $110 million in a Series D round of funding.

The financing values New York-based SmartAsset at over $1 billion, and brings its total raised since its 2012 inception to just over $161 million, according to Crunchbase.

TTV Capital led SmartAsset’s Series D, which also included participation from Javelin Venture Partners, Contour Venture Partners, Citi Ventures, New York Life Ventures, North Bridge Venture Partners and CMFG Ventures.

The company last raised in June of 2018 – a $28 million Series C led by Focus Financial Partners. Since then, it says it has grown revenue “by 10 times” and is now on the cusp of reaching $100 million in ARR (annual recurring revenue). It recently made its one millionth consumer/advisor match on its SmartAdvisor platform. Also in 2020, SmartAsset says it referred $10 billion in new, closed assets under management (AUM) to financial advisors and firms across the U.S.

Besides pairing consumers with advisors with its Automated Financial Modeling software, SmartAsset claims to reach over 100 million people each month through its personal finance content, tools and “personalized” calculators.