Internet company Google contributed to a $75m series D round for US-based credit monitoring company Credit Karma yesterday through its growth capital subsidiary, Google Capital.
Two of Credit Karma’s other existing investors, Tiger Global Management and Susquehanna Growth Equity, also participated in the round, which followed an $85m series C round closed in March this year.
The round valued Credit Karma at over $1bn, according to the Wall Street Journal.
Credit Karma has now raised approximately $193.5m since it was founded in 2007. Previous investors include Ribbit Capital, Felicis Ventures, QED Investors, Founders Fund and SV Angel.
Ken Lin, Credit Karma’s CEO, said: “We believe this investment speaks to two themes: Continued confidence that we are the industry’s leading consumer credit and finance platform, and repeated strong consumer demand for our product.”
Credit Karma provides free credit monitoring and reports to more than 30 million customers, a number which represents a 50% increase from February. It plans to invest the series D cash in ongoing growth and product development initiatives.