SmartAsset, the Internet's most-viewed financial technology company helping people make smarter financial decisions, has raised $28 million in Series C funding. The new investment comes from Focus Financial Partners (which is backed by Stone Point Capital and KKR), Javelin Venture Partners, TTV Capital, IA Capital and Citi Ventures, among others. This increases the total funding in the company to more than $51 million. SmartAsset plans to use the funding to further grow its audience, as well as expand its fast growing SmartAdvisor platform, which matches consumers to financial advisors. Sumo Logic, a cloud data analytics and log analysis company, announced a 110 million Series G investment today.The company indicated that its valuation was north of a billion dollars, but wouldn’t give an exact figure. The six-year-old Y Combinator company provides personal finance information and tools to more than 45 million people each month. Powered by proprietary Automated Financial Modeling software, SmartAsset's tools, calculators, data-driven studies and educational content provide the web's best personal finance resources, directly to consumers. "This investment will accelerate our mission of becoming the web's premier resource for personal finance tools and content. In doing so, SmartAsset will become the largest marketplace for investors trying to find financial advisors and advisors trying to meet new prospective clients," said CEO and Co-Founder Michael Carvin. "We could not be happier to have the support of new and existing investors, bringing with them the expertise and acumen needed for us to accelerate our growth." "Financial advisors currently have no reliable, easy-to-use digital channels to grow their business. We see a tremendous opportunity for SmartAsset to create the web's first digital platform to help advisors add new clients in a profitable and scalable fashion," said Rajini Kodialam, Co-Founder of Focus Financial Partners.
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