{"id":336590,"date":"2017-03-23T21:00:28","date_gmt":"2017-03-23T13:00:28","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1467659"},"modified":"2017-03-23T21:00:28","modified_gmt":"2017-03-23T13:00:28","slug":"clarity-money-raises-another-11-million-to-help-users-improve-their-financial-health","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/clarity-money-raises-another-11-million-to-help-users-improve-their-financial-health\/","title":{"rendered":"Clarity Money raises another $11 million to help users improve their financial health"},"content":{"rendered":"

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Founded by serial entrepreneur Adam Dell, Clarity Money<\/a> makes\u00a0a personal finance app that aims to\u00a0help users lower their monthly bills and improve their financial health along the way. Just three months after launch, the company is announcing another $11 million in funding from RRE Ventures and Citi Ventures.<\/p>\n

Clarity Money uses machine learning and AI to identify actions its\u00a0users can take to reduce spending or lower their costs. After downloading the app and linking up checking and credit card accounts, the app\u00a0provides suggestions for\u00a0subscriptions they can cancel, bills they can potentially\u00a0negotiate lower, and refinancing options that might be available to them.<\/p>\n

The key value prop comes from reducing the friction associated with taking action on one\u2019s finances.\u00a0That means not only educating users about what\u2019s happening with their money, but also enabling users to unsubscribe from services or take advantage of affiliate offers with a single click.<\/p>\n

The company makes money from refinancing or low-interest credit card offers that people choose, but maintaining user trust means ensuring any decisions they make are in the consumer\u2019s best interests.\u00a0\u201cWe want to make sure people\u00a0trust Clarity Money to present an option that is better for them,\u201d<\/span> Dell told TechCrunch.<\/p>\n

To expand its business, Clarity is announcing another\u00a0$11 million in Series A financing. That follows\u00a0a $3.5 million seed round that the company raised eight months prior, from investors that included RRE,\u00a0Bessemer Venture Partners, Soros Capital and Maveron Ventures.<\/p>\n

Having known Dell for about 25 years\u00a0and having invested in his previous\u00a0startup MessageOne, RRE Ventures managing partner Stuart Ellman was an early investor\u00a0in Clarity. But he decided to\u00a0double down on Clarity Money\u00a0after\u00a0Dell built out his team and brought the product to market.\u00a0\u201cAdam\u00a0has the maturity and the gravitas to cut the\u00a0deals they needed,\u201d Ellman said. \u201cThis is a combination of the right product and the right people needed to roll this out.\u201d\u00a0<\/span><\/p>\n

Citi Ventures managing director Luis Valdich\u00a0also talked up\u00a0the caliber of the team Dell has built. While Citi Ventures typically invests in companies that are a little further along, Valdich said he was impressed by how quickly Clarity Money was growing.<\/p>\n

Their\u00a0investment comes just three months after Clarity launched to the public<\/a>. In that time, the company has already had more than 100,000 users sign up and link an account in the app. As a result it\u2019s analyzed more than $10 billion in transactions and on average has saved users $300 by helping them cancel subscriptions.<\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Founded by serial entrepreneur Adam Dell, Clarity Money makes a personal finance app that aims to help users lower their monthly bills and improve their financial health along the way. Just three months after launch, the company is announcing another $11 million in funding from RRE Ventures and Citi Ventures. Read More<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

\"\"\/ <\/p>\n","protected":false},"author":5817,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[25],"tags":[59,66,26],"class_list":["post-336590","post","type-post","status-publish","format-standard","hentry","category-technology","tag-media","tag-techcrunch","tag-technology"],"_links":{"self":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/336590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/users\/5817"}],"replies":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/comments?post=336590"}],"version-history":[{"count":0,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/336590\/revisions"}],"wp:attachment":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/media?parent=336590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/categories?post=336590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/tags?post=336590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}