Truebill, a Silver Spring, MD-based personal finance app provider, raised $45m in Series D funding.
The round, which brought total funding to $85m, was led by Accel with participation from existing backers Bessemer Venture Partners, Cota Capital and Eldridge Industries.
The company intends to use the funds to expand its platform of financial management tools.
Led by Haroon Mokhtarzada, Co-Founder and CEO, Truebill is a personal finance app that analyzes users’ spending habits, identifies inefficiencies, and offers immediate methods to improve their financial health. It enables people to optimize their spending, manage subscriptions, lower their bills, and automatically set aside money to reach their savings goals. The company, which also has offices in San Francisco, is now analyzing more than 200 million monthly transactions for more than $40 billion in monthly transaction volume. Truebill has also more than doubled its staff since November to over 100 employees and plans to continue to expand its product, data science, engineering, marketing and user support teams to further its offerings.