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Recently in CoverHound Category

  • Newfination hosts Coverhound CEO Basil Enan who talks about its online insurance service.
  • ProgrammableWeb interviews Michael Sconfield, Developer Evangelist of Dwolla API.
  • Caribbean360 reports that the Inter-American Development Bank is testing Entrepreneurial Finance Lab's psychometric method of testing creditworthiness.
  • Fort Mill Times takes a look at TipRanks. See them demo at FinovateSpring in San Francisco.
  • Bazaarvoice appoints former Convio Inc. CEO Gene Austin as president.
  • PayMobl reviews Pageonce mobile bill payment app.
  • Innovation Agency launches new features for Innovation Café to make it easier to manage and keep users up to date
  • Realty Mogul wins top honors at Founder Showcase pitch competition.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This quarter, both January and Feburary funding exceeded $50 million. Most of February's funding can be attributed to On Deck Capital's $42 million round.

Over three months, 15 companies raised more than $155 million, This is very similar to last year's first quarter funding* when we saw a total of 11 companies raise more than $150 million.

Here's the Q1 summary for 2013:

January -- $57 million raised by 6 companies
February -- $56 million raised by 5 companies
March -- $42 million raised by 4 companies

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*While the funding over last year has increased, so has the number of Finovate alums. We're tracking more than 100 additional companies this year compared to last year.

Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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Earlier this month, we incorrectly reported that CoverHound raised $8.1 million, citing the San Francisco Business Times. Below is the corrected report.

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Insurance comparison tool, CoverHound recently raised $4.5 million in Series A funding. The round was led by RRE Ventures of New York. Bullpen Capital and existing investor Blumberg Capital also participated.

This funding, combined with the $750,000 in seed money raised from Blumberg Capital in 2011, brings the San Francisco-based startup's total funding to $5.25 million.

With this release, CoverHound also disclosed that it is now manages $1 million worth of premiums.

To learn more about CoverHound, watch its FinovateSpring 2012 demo.

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Motor vehicle insurance comparison website, CoverHoundannounced a partnership with Source Interlink Media.

Through this partnership, CoverHound will power auto insurance comparison engines on Motor Trend Auto Group sites, including:

    • MotorTrend.com
    • IntelliChoice.com
    • Automotive.com
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In addition, the San Francisco-based startup announced that Source Interlink Media, along with returning investor Blumberg Capital, has made a strategic financial investment in CoverHound.

To learn more about CoverHound, watch its FinovateSpring 2012 demo.

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTwo Guys and Your Money podcast features Planwise.
  • Business Insider reviews BillGuard.
  • University FCU & Bank of Lake Mills deploy the Mortgagebot front-end POS automation.
  • Geezeo adds 4 credit unions.
  • 2 Minute Finance receives a demo of CoverHound's technology at FinovateSpring.
  • Wipit and Punchcard form partnership.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTradeshift to Offer Taulia's Dynamic Discounting.
  • Startup Beat interviews CoverHound CEO, Basil Enan.
  • Acculynk and National Payments Corporation of India Announce Internet PIN Debit Partnership.
  • miiCard Launches Twitter Trust Campaign By Verifying Real Identities.
  • PaySimple Named Red Herring Americas Top 100 Winner.
  • Financial Post discusses Kashoo's mobile distribution strategy.
  • High Beam Research reports on DoughMain's financial education pointers.
  • TechCrunch reports BOKU Scales Up, Will Power Carrier Billing For In-App Payments In The T-Mobile Mall.
  • CU Times reports MoneyDesktop Adds 17 Credit Unions as PFM Users.
  • Check Point Introduces New Security Acceleration Module with Advanced SecurityCore Technology for High Performance in Low Latency Environments.
  • CNN Money Launches New Investing Home Page with StockTwits Trending Tickers.
  • Advocate's Studio recommends Enloop for when you need a fast business plan.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBill.com integrates with NetSuite to deliver seamless, cloud-based financial management.
  • Inc.well interviews Candace Klein, CEO of SoMoLend, about crowdfunding.
  • Virtual Piggy partners with World Industries.
  • American Banker considers if Dwolla is a threat or opportunity for banks.
  • Soshable covers Klarna, CoverHound, Giftly, ZipZap, BillGuard, Dwolla and Virtual Piggy.
  • The Next Web takes a closer look at the tech that powers LearnVest.
  • BCSG partners with Sage to offer MyBusinessWorks customers the bookkeeping application Sage One Accounts.
  • ValidSoft announces partnership with Spindle to provide advanced payments security solutions to US-based customers.
  • Fast Company names Laura Mather, Founder and Chief Visionary of Silver Tail Systems, as one of the Most Creative People in Business.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Here's a look at press coverage from FinovateSpring 2012 in San Francisco last week. For comprehensive coverage, be sure to check out Erin McCune's live blog on PaymentsViews, which covers all 63 presenting companies:

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2 Minute Finance
2MF @ Finovate Spring 2012 Conference
by Bobby Lee
Link

BillGuard Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Cardlytics Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Concur Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Flint Mobile Demo @ Finovate Spring 2012 Conference (Day 2)
by Bobby Lee

Mitek Systems Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

TIO Networks Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

WattzOn Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Bank Innovation
5 Finovate Demo-ers' News Catching Our Eye
by Mary Wisniewski

4 More Finovate Products We Like
by Mary Wisniewski

Bank Technology News
Best of Finovate Spring Day 1
by Penny Crosman

Best of Finovate Spring Day 2
by Penny Crosman

Dwolla Pitches Fast Fund Transfers, but Bank Participation is Vital
by Sean Sposito

Edo to Harness Payment Data to Spur Consumer Spending
by Victoria Finkle

WattzOn Helps Banks Help Customers Save on Energy Bills
by Sean Sposito

BankersLab Blog
CreditLab Launch: Reactions and Responses

BankNXT
Finovate, Simple, and Re-Imagining Banking Applications
by Bradley Leimer

Live at FinovateSpring 2012- day 1
by Jelmer de Jong

Live at FinovateSpring 2012- day 2
by Jelmer de Jong

BetaKit
CoverHound Debuts Comparison Tool for Auto Insurance 
by Cheronne Thurab 

Business Insider
Finally, a Mobile App That Helps You Save Money: Meet Urge
by Willy Staley

Business2Community
What Does $4.6 Billion in Coupon Savings Have to Do with Savvy Consumers?
by Andre Bourque

C'est pas mon idée!
FinovateSpring 2012: quoi de neuf?
by Patrice Bernard

Currency Marketing Blog
Four Conference in Four Days
by Tim McAlpine

Credit Union Times
MoneyDesktop Named Best of Show at FinovateSpring Conference
by Natasha Chilingerian

Daily Disruption
Flint Mobile Announces Beta Launch at Finovate and Closes $3 Million Round of Financing
by Tim Rygh

The Daily Guardian (BillGuard's blog)
Financial Community Awards BillGuard Best Of Show at Finovate
by Maryanne

DCisions Blog
DCisions at Finovate Spring 2012
by Kritika Ashok

Des Moines Register 
Dwolla offers software for free
by Adam Belz

Des Moines Register Blog
Dwolla, Social Money earn praise at national banking conference
by Marco Santana

Excelsior
Kuspit, el primer Finovate mexicano
by Alicia Salgado

Experian Blog
Business IQ Express... what is the media saying?
by Roslyn Whitehurst 

FamZoo Blog
Finovate Winners
by Bill Dwight

Finextra
Flint taps phone cameras for card payments

SoMoLend closes $1.17 million seed round

Forrester Blog
Finovate Spring 2012: Digital Financial Services Innovation
by Tiffani Montez

FP Pad
[Video Spotlight] inStream Solutions CEO Alex Murguia at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] iQuantifi CEO Tom White at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] Sarah Carter of Actiance at FinovateSpring 2012
by Bill Winterberg

Iconowatch
Accelerating Innovation at Finovate 2012
by Hans Eisenbeis

Investment News
Personal Capital launches iPhone app
by Davis Janowski

Lazy Man and Money
What's Hot and What's Not from Finovate 2012

Mercury News
Money Goes Mobile 

Montreal Gazette
Montreal's Wall Street Survivor teaches about investing
by Jason Magder

MyBankTracker
Can FinTech Stop You from 'Showrooming?'
by Willy Staley

MoneyDesktop: How Personalized Deals Shine in PFM Tools
by Simon Zhen

Save Your Wallet, and Maybe the Planet, with WattzOn
by by Willy Staley

On Deck Capital Blog
Photo Journal: Our Finovate Demo

PaymentsNews
Highlights from Finovate Spring 2012 San Francisco 

PaymentsViews
Live Blogging Finovate Spring 2012 San Francisco
by Erin McCune

The Paypers
ZipZap rolls out CashCade payment service

PaySimple Blog
PaySimple at Finovate
by Sarah Jordan

PC World
New Web Apps and Services for Business
by Yardena Arar

QuidLabs
Finovate Best in Show
by Aliisa Rosenthal

SecurityPark.net
BehavioSec voted 'Best of Show' for biometric solution by audience at Finovate Spring, San Francisco

Silicon Prairie News
With upgraded FiSync, Dwolla cuts 3-5 day wait to real-time
by Michael Stacy

Silver Tail Systems Blog
Finovate Spring Demonstrates a Growing Richness in Online Interactions
by Laura Mather

Social Lending Network
Roundup of Social Lending News - May 12, 2012
by Peter Renton

TechCrunch 
Capital One Snags Mobile Savings Startup BankOns, Team Moving To Capital One Labs
by Sarah Perez

Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
by Ingrid Lunden

How Personal Capital Wants To Bring Money Management Into The Internet Age [TCTV]
by Colleen Taylor

Nearing The 1M User Mark, Expensify Adds 'Trips' Feature To Mobile Apps
by Colleen Taylor

The Anti-Groupon? Edo Launches Real-Time Local Offers Platform, Tied To Your Bank Card For Instant Credits
by Sarah Perez

Tradestreaming
List Of Winners Of Top Fintech Conference, Finovate
by Zack Miller

World News (wn.com)
Instream Solutions Ceo Alex Murguia At Finovatespring 2012
CoverHoundLogo.jpg
Then, CoverHound demonstrated its platform where consumers can compare insurance quotes:

"CoverHound's comparative shopping engine gives users real, instant and actionable rates from leading insurance brands. 

CoverHound tools let partners offer consumers purchasable insurance quotes - supercharging monetization and user experience in new and lucrative ways."

Product Launched: May 2012

HQ Location: San Francisco, CA
Company Founded: May 2010
Metrics: $800,000 raised to date, 10 employees

Introducing Basil Enan (Founder & CEO) and Rory Joyce (Chief Marketing Officer)

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More than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the annual FinovateSpring conference in San Francisco May 8 and 9.

Each company provided a sneak peek of what they'll demo on stage next month. Below is the first installment of these teasers. We'll have more next week.

Don't miss your chance to see the live demo from each company and meet the execs responsible. Get your FinovateSpring ticket here.

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Balance Street

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The premier direct marketplace between consumers and creditors for the purpose of debt settlement, Balance Street, provides consumers the opportunity to relieve their debt burden without fees. Consumers use its web-based automated system to negotiate with creditors directly, avoiding debt settlement companies who charge exorbitant fees (up to 20% of total debt owed).

Eliminating this 20% market inefficiency makes for a better financial outcome for consumers and creditors. With over $780 billion in credit card debt in the U.S., the Balance Street technology will revolutionize the way debt is settled.

Innovation type: Cards, marketing, PFM


Bazaarvoice

BazaarvoiceLogo.jpg

See how leading brands are harnessing the power of online word-of-mouth to boost customer referrals, sales, retention, advocacy, and company innovation while building the world's most powerful social data asset.

Innovation type: Communications, marketing, sales and customer service


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BehavioSec

No one wants a complicated process for logging in to online or mobile banking. European banks have been forced to go down this route with hardware tokens and smart cards.

So now when U.S. banks will be rolling out new multi-layered security on the front-end following FFIEC, will we see the same thing here?

With BehavioSec's solution there is a better choice. They add multilayered security through the use of behavioral biometrics. So when the user connects via mobile or online, the technology helps verify that they are who they say they are. Learn more at FinovateSpring 2012.

Innovation type: Identity, mobile, security


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BillGuard

BillGuard identifies deceptive, erroneous and unauthorized charges on consumer payment cards using advanced crowdsourcing and big-data mining techniques that harness the collective knowledge of millions of consumers reporting billing complaints online and to their banks. 

BillGuard's Advanced Card Protection Service for Banks is a seamlessly integrated, cloud-based solution that enables issuers to generate new value-add service revenue, and lower inquiry/dispute processing costs, by providing their customers daily bill monitoring and notification, enriched transition details and direct-to-merchant resolution.

Innovation type: Cards, communications, online UI


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CoverHound is changing the way people shop for insurance online. Launching at FinovateSpring, CoverHound's new rate comparison shopping service allows consumers for the first time to compare multiple, instant, accurate rates from top carriers. CoverHound will also be demonstrating an exciting array of products specifically designed to help banks and credit unions generate significant non-interest income while providing a valuable service to their members.

Innovation type: Insurance


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Never before has it been so easy for companies to provide business and retail customers with a way to validate creditworthiness through the use of online deposits. eDeposit provides patented funds visibility and real time settlement to markets across the U.S. in an innovative, new form of payment.

At FinovateSpring, eDeposit announces a new innovation that makes conducting B2B and B2C e-business faster, cheaper and safer.

Innovation type: Payments, security, small business


edoInteractiveLogo.jpg
From "check-in to check-out", intersecting the worlds of Payments and Advertising, edo takes the next step forward in its vision to transform shopping and saving.  

This next wave connects mobile and multi-channel retail . . . imagine a world where purchase and location meet and the new standard for mobile advertising moves from "check-in" to "check-out."

Innovation type: Marketing, mobile, rewards


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Expensify <3's Finovate -- they view it as the premier stage on which to make their biggest announcement of the year. Three years ago, it launched an open beta on the Finovate stage. Two years ago, it unveiled a major realtime analytics feature. One year ago it launched a revolutionary SmartScan service. But this year will trump all that.  A whole new approach to business travel. Prepare yourself!

Innovation type: Back office, mobile, small business


FutureAdvisorLogo.jpg
Most investors have assets spread across financial institutions and accounts, including limited-option accounts such as their employer's 401(k) plan.

Managing this is a chore - including figuring out which funds, in which amounts, and rebalancing.

Well, it was a chore, before FutureAdvisor.

Innovation type: Investing and asset management, online, PFM


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Giftly is inventing the future of the gift card. Using its new iPhone app, users can send anyone a Giftly for any place they choose. The recipient redeems it on their smartphone when they go. It's fast, fun, and secure.

Giftly's app and web products have been designed to be social, simple, and powerful. Thanks to Facebook, Foursquare, and smart iOS integration, you'll always know which friends are celebrating birthdays, are checking in to cool new places, or are otherwise in need of a quick gift.


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Is it possible to separate the fun of buying from the nuisance of paying? Klarna thinks so. The idea behind Klarna's e-commerce services is the concept of after-delivery payment, letting buyers receive ordered goods before any payment is due. Instead of giving financial information, buyers shop with Klarna just by giving their name and select information (Klarna calculates the risk).

Innovation type: Payments


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Linkable Networks will be debuting a first-to-market capability that significantly broadens the value proposition of card-linked offers to issuing banks, merchants, manufacturers, and cardholding consumers. In addition, Linkable Networks will demonstrate new features recently added to its product platform and user interface.

Innovation type: Cards, mobile, rewards


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MShift believes that financial institutions need to enhance existing mobile banking solutions into mobile wallet and payment solutions.

At Finovate, MShift will demonstrate how mobile banking can influence how a consumer spends money in various retail scenarios.

Innovation type: Banking, payments, small business


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Your customers go mobile with smartphones and tablets. When they cannot fulfill their needs in mobile self-service, do you jump in at the right time to help them complete their business? Do you want to maximize the opportunity for smart customer experience and increased business via smart mobile devices (while reducing costs)? NICE Mobile Reach can do that for you. Don't miss its demo at FinovateSpring.

Innovation type: Mobile, sales


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Personal Capital is wealth management for the Internet Age. The company's online platform combines digital technology with highly personalized service to provide a holistic view of your unique financial picture. The free online dashboard presents all of your financial data in one place, including an assessment of your allocation, investment risk and fees.

These days, the financial lives of Americans are becoming more and more complex. At FinovateSpring, Personal Capital will unveil core new features that enable you to access your financial data in real time, on-the-go. You'll be able to view and do, anywhere, anytime.

Innovation type: Investing, mobile, PFM


pindropLogo.jpg
Pindrop Security provides enterprise solutions that help prevent phone-based fraud. Pindrop's acoustical fingerprinting technology detects fraudulent calls and authenticates legitimate callers, helping customers eliminate financial losses and reduce operational costs. Pindrop's breakthrough technology is the first of its kind to fingerprint individual phone calls, providing verification of caller provenance. 

Recently named one of the 10 Most Innovative Companies at the 2012 RSA conference, Pindrop's solutions help companies feel more confident in the security of phone-based financial transactions.

Innovation type: Identity, security


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Easily administer and coordinate your annual budget with Budget Manager from ProfitStars. ProfitStars takes the headaches, and the spreadsheets, out of the budgeting process and optimize the efficiency and effectiveness of budgeting and planning.  

The company will show you how this newly redesigned browser-based version enables users to construct and manage a more efficient budgeting process, including how to tackle more difficult items like salaries and fixed assets.

Innovation type: Banking


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Discover a new Facebook app for banks that will not only make you relevant and engage Facebook users, but will also get your customers recommending and endorsing your card products.  It drives great loyalty from existing customers and also helps to devise new customer acquisition --all through Facebook. 

Serverside does this by letting people design their own credit or debit card using a picture from their Facebook gallery, then post it to their Facebook wall. Their friends then click on the card image to design their own card and help your bank to go viral!

Innovation type: cards


SocialMoneyLogo.jpg
Social Money can provide any bank in the world its own branded version of our revolutionary and award-winning SmartyPig technology. A new bank can be up and running on our system within 90 days in any language and currency, for a fraction of the cost of internal development efforts.

Innovation type: Banking products, PFM


TascetLogo.jpg
The dawn of compliance solutions that work.

Meet Molly. 115 different people use Molly's SSN.
Financial institutions have no idea who these people really are.

This is possible because FIs and so-called identity protection companies can only verify identity. Verification is not enough. Full identification is needed to fight fraud and provide FIs the means to meet compliance requirements. Only Financial ICONN from TASCET can identify financial customers.

Once Molly activates her ICONN, TASCET proactively secures her identity and FIs know exactly who she is.

Innovation type: Identity, security


tauliaLogo.jpg
Taulia takes the waste out of the supply chains of Fortune 500 Enterprises while simultaneously solving the cash-flow needs of their suppliers. The large enterprise buyers get discounts by paying their invoices early. In return, their suppliers get paid when they want. In Taulia's young life, it has already enabled small suppliers from 40+ countries around the world to receive hundreds of millions of dollars of early payments.

Innovation type: Lending, payments, small business


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The Under-18 audience has an estimated $50 billion in spending power. Learn how to successfully monetize the kids/teen market in this powerful demo by Virtual Piggy, an exciting new company that provides innovative technological solutions to help bridge the gap between children, parents and online retailers.

Innovation type: Payments


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Wall Street Survivor is the only place for the beginner to learn about investing. Guided missions, beginner-focused learning content, combined with the web's best stock simulator help users effectively manage their financial future.

Innovation type: Investing & asset management, marketing, PFM


wipitLogo.jpg
Mobile commerce is estimated to be a $31 billion industry by 2015, but how will the underbanked participate? Wipit has unlocked mobile payments for this massive and largely untapped consumer demographic representing 25% of all U.S. households and over 70 million U.S. prepaid wireless subscribers. Underbanked consumers can now make in-app and online payments with a single click. No need for bank accounts or credit cards; Wipit lets underbanked consumers use their payment method of choice-- cash.

Innovation type: Cards, payments


Stay tuned next week for another sneak peek of FinovateSpring 2012 presenting companies.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFiserv wins Celent's XCelent Award for enterprise-wide compliance solutions.
  • USA Today Money columnist recommends TradeKing & Zecco as platforms for investing in stock.
  • Productive Web Apps features CoverHound.
  • The Seattle Times discusses the benefits of BillGuard.
  • Braintree's payment gateway available for Magneto users.
  • Prosper adds 13 new loan categories for borrowers.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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