Money management service LearnVest came forward with a slew of announcements today, the biggest news being its recent $16.5 million round.
The new installment brings the startup’s total funding to $41 million. Contributors include:
- Accel Partners
- American Express Ventures
- Claritas Capital
- Ed Mathias
- Todd Ruppert
CEO Alexa Von Tobel plans to use the new round to scale LearnVest Planning and provide more access to its team of certified financial planners.
Multiple sources, including Forbes, have rumored that American Express Ventures involvement may lead to a partnership between the startup and the payments giant. American Express Ventures managing partner, Harshul Sanghi, states that he strongly believes in LearnVest’s mission and that the startup can help AmEx expand its goal to help customers better manage their money.
LearnVest also recently launched Workplace Solutions to widen the distribution of its seven-step Action Program, a tiered solution that provides affordable financial planning across wealth levels. The new Workplace offering makes it easy for employers to distribute the Action Program as an employee benefit.
To help the three-year-old company better execute its financial advisory services, it brought some notable talent to its planning advisory board:
- Ed Mathias (Carlyle)
- Todd Ruppert (T. Rowe Price)
- Susan Lyne (AOL & Gilt Groupe)
- Ann Sardini (Weight Watchers)
To learn more about LearnVest, watch its FinovateFall 2012 demo where it debuted its MoneyCenter. Or come see the demo of its newest tech live at FinovateFall in New York this September. Get your ticket here.