LearnVest raises U$16 mln in latest financing round

By IVCPOST Staff Reporter

Jul 26, 2013 09:04 PM EDT

Online financial management firm, LearnVest.com, revealed on Friday that it closed US $16.5 million in the latest round. The round was led by existing investor Accel Partners, along with four new investors.

Since its launch, LearnVest.com already collected US $ 40 million in venture capital financing. In 2011, it was even adjudged one of the best websites by TIME magazine.

Joining the round were Claritas Capital, American Express Ventures, Todd Rupert, the former president of T. Rowe Price Global and Ed Mathias, who counts being The Carlyle Group founding member among his credentials.

Both Mathias and Rupert will sit as advisors of the New York-based company. They will be joined by Ann Sardini, the former chief financing officer of Weight Watchers, and Susan Lyne, CEO of AOL Brand Group.

"We're eager to use this latest investment to focus on scaling LearnVest Planning's award-winning technology," said CEO and founder Alexa von Tobel, adding that one of their goals is to make financial planning "an exciting consumer product."

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