Credit Sesame, a US-based consumer credit tracking software developer backed by cybersecurity technology supplier Symantec and financial services firm Capital One, has raised more than $43m in equity and debt financing.
The round was led by investment firm ATW Partners and included unspecified existing backers. It increased Credit Sesame’s total financing to $110m, the company said.
Founded in 2010 to exploit Stanford University technology, Credit Sesame has created an app-based tool called RoboCredit that uses advanced data analytics to help consumers improve their chances of getting credit.
Uses can access monthly details of their credit score and tips on how to bolster their rating. They can also select from a range of credit protection services and use the platform to pre-qualify for Capital One financial products.
The funding will go to artificial intelligence and machine learning development as Credit Sesame looks to enhance its end product. The company will also devote a share of the proceeds to hiring data science, engineering, product and marketing staff.
The company raised $26.6m from Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital, SF Capital and an unnamed strategic investor in late 2017, in addition to approximately $15.5m in debt financing.
Syncora Alternative Investments had led Credit Sesame’s $16m series D round two years before, with backing from Menlo Ventures, IA Capital, Globespan Capital, Inventus Capital and unnamed angel investors.
Credit Sesame had already received $12m in series C funding from Globespan and existing investors Inventus and Menlo Ventures in 2012.
Both Capital One’s corporate venturing arm, Capital One Ventures, and Symantec were identified as existing backers this week, as was Stanford University, though it was not disclosed when they invested.