Press and Blogger Central / Press Release
Atomic PR for Mint
Mint.com Raises $14 Million in Series C Funding, Led by DAG Ventures
Leading Personal Finance and Budgeting Software Prepares for Expanded Product Upgrades and New Partnerships
Mountain View, Calif., April 12, 2009 – Mint.com (www.mint.com), the leading online personal finance service, today announced that the company has raised $14 million in a Series C financing round led by DAG Ventures. This was a preemptive round, with new participation from The Founder’s Fund, and investment from existing investors Benchmark Capital, Shasta Ventures, First Round Capital, and Sherpalo. Valuation is not being disclosed, but it represents a significant up round.
Mint.com is the leading online personal finance service, now with over 1.4 million registered users. Mint is tracking over $175 billion in transactions, $47 billion in assets and has identified $300 million in potential savings for its users. Specific revenues are undisclosed, but are up 8x year over year.
This round of funding will be applied to expanding Mint’s already award-winning team, particularly its engineering staff, to accelerate product upgrades and new partnership launches scheduled for the next 6-12 months.
“To be approached with funding in this climate is acknowledgement of our progress and potential in helping Americans to save and do more with their money,” said Aaron Patzer, CEO and founder of Mint.com. “Now that we have a sampling of about 2% of the nation’s online households, we can see some interesting economic trends, and are establishing ourselves as a source of close to real-time insights into the US economy.”
This latest round brings Mint.com’s total funds raised to date to $31 million. The company's Series B was led by Benchmark Capital; Series A was led by Shasta Ventures; and their seed round was led by First Round Capital.
About Mint.com (www.mint.com)
Mint.com is the nation’s leading online personal finance service, providing over 1 million users a fresh, easy and intelligent approach to money management. And it’s free. Mint is tracking over $175 billion in transactions, $47 billion in assets and has identified $300 million in potential savings for its users.
Designed to be effortless, Mint.com takes less than five minutes to set up. Users register anonymously using only a valid email address. Mint then does the rest, securely downloading transaction data from more than 7,500 bank, credit card and investment accounts on a daily basis. Users never need to import or synch their data. Mint applies patent-pending technology and proprietary algorithms to categorize transactions; provide a unified view of all account activity; alert users to low balances, bank fees, upcoming bills, and even potentially suspicious account activity; and give users personalized suggestions for significant savings opportunities. Each user can monitor their total net worth, virtually real time, at www.mint.com, from any mobile phone (by texting short code MyMint ), or by using Mint.com’s iPhone application – rated #1 in the Finance category in iTunes on the day of its launch.
Mint.com is rated top in its category by Kiplinger, Money, PC World and PC magazines, was named one of the 50 Best Websites of 2008 by TIME magazine, and has received four Webby awards, a Thomas Edison award, an American Business Award and accolades from the Wall Street Journal, BusinessWeek, TechCrunch, and Lifehacker, since its September, 2007 launch. The company was named one of 34 international Technology Pioneers by the World Economic Forum in 2008 and publishes an award-winning personal finance blog at www.mint.com/blog/ .