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With a Series D under its belt, SmartAsset is working on taking out the bias from personal finance - while it itself is a case study in how overlooked founders, which routinely suffer from this exact phenomenon, continue to lead strong businesses.
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HBCUvc and Google for Startups also announced this month two separate efforts to provide non-dilutive capital to early-stage, underrepresented founders.
NEW YORKBASED SMARTASSET 110M TTV CAPITAL MAC
"I hope seeing more successful Black founders inspires more people of color to start companies so that one day this is not news," Carvin told TechCrunch.Ī number of Black-led venture capital firms have closed investments in the past year, which could change this number, including Collab Capital’s $50 million investment vehicle, Harlem Capital, which closed a $134 million seed fund earlier this year Cleo Capital, which set a $20 million target for Fund II and MaC VC, which landed $103 million for its inaugural fund. Crunchbase estimates that in 2020, 1% of total venture capital funding, or $1 billion, went to this cohort of founders. 4, 2021 /PRNewswire/ - Wildfire Systems Inc. New York-based SmartAsset, a marketplace that connects consumers to financial advisors, raises 110M Series D led by TTV Capital at over 1B valuation. While exciting, the unfortunate rarity of Black-led unicorns is a symptom of historical underfunding in Black or African-American startup founders. TMCnet News AugWildfire Systems Raises 15 Million Series A Round Led by TTV Capital and QED Investors SOLANA BEACH, Calif., Aug. Others include Compass CEO and founder Robert Reffkin, whom we recently profiled here, and Calendly CEO and founder Tope Awotona, who we have also profiled. The company claims that, with today’s news, co-founder Michael Carvin now becomes the third Black founder and CEO of a company valued at over $1 billion. SmartAsset, a New York-based financial advice site that directs prospects to financial advisers, has closed a 110 million Series D round, valuing the company at over 1 billion. The funding and its flashy valuation comes with a certain weight, even in the growing world of unicorn companies. by providing an incredibly valuable resource for both consumers and financial advisors alike.” The company's platform offers financial modeling, decision engine, and optimization tools like calculators and content, enabling users to make smart personal finance decisions regarding home buying, retirement, and taxes.
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Developer of a financial advisory platform intended to connect consumers to financial advisors and financial products. TTV Capital Partner Mark Johnson said the company “is quickly expanding its lead in one of the largest markets in the U.S. SmartAsset General Information Description. It also plans to boost its current headcount of 202 by more than 75% this year. The company plans to use the new capital to invest in new product offerings, technology infrastructure and data partnerships. The firm's track record includes Green Dot, Cardlytics,, Greenlight, MX, Smartasset, Shopkeep, Paycycle, Scratchpay, and Featurespace.Image Credits: SmartAsset CEO and co-founder Michael Carvin / SmartAsset TTV is one of the preeminent investors in fintech. "We will invest $1 - $5 million in support of early-stage fintech companies led by dedicated founders with a strong, clear mission." "We founded TTV in 2000 because we believe that there is a compelling need for innovation and technology advancement throughout the financial industry," said Gardiner Garrard, co-founder and managing partner, TTV. The Fund will continue to back founders that are creating innovative applications that build upon enabling technologies like cloud computing, big data, mobile, machine learning, AI, and blockchain, to disrupt and modernize the banking and payments sector. The company helps millions of people make better financial decisions while simultaneously enabling advisors to grow their business, said Mark Johnson, Partner at TTV Capital. While enrollment across all higher education institutions fell 5.1 between fall 2019 and fall 2021, public two-year colleges have suffered the steepest drop in enrollment during that time, falling by 13.1, according to data from the National Student Clearinghouse Research Center.
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To date, TTV Fund V has invested in a number of companies including: Koho, Neuro-ID, Plink, Samcart and Taxbit. No sector of higher education has been hit harder by the COVID-19 pandemic than community colleges. TTV Fund V includes both existing and new limited partners, including endowments, foundations, family offices and strategic partners. TTV Capital announced today that the firm has closed its oversubscribed fifth fund, raising $127 million.