Online personal finance and budgeting site Mint.com has raised $14 million in its third round of venture capital funding, joining Bill.com, which raised $8.5 million earlier this month.
DAG Ventures led Mint.com’s Series C round. Other participants included a new investor, The Founder’s Fund, along with earlier investors, Benchmark Capital, Shasta Ventures, First Round Capital, and Sherpalo.
Mint.com is one of a number of personal finance sites that have gained popularity as more people struggle to keep their finances under control during the recession, and resort to the Internet, rather than accountants, for help. Such sites require users to entrust a great deal of their personal financial information to an outside company. Nevertheless, Mint.com has been one of the most successful such sites, attracting over 1.4 million users. The site claims to be tracking over $175 billion in transactions and $47 billion in assets, and said it has identified $300 million in potential savings for its users. Mint.com does not disclose its revenues, but claims they are up eightfold year over year.
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Mint.com is not the only Web site attracting interest from the VC world. Earlier this month, Bill.com, an online bill management site used by accounting firms and small and midsized businesses, announced that it closed an $8.5 million venture financing round, bringing total investment in the company to more than $17 million. August Capital, which led the financing round, is the same VC firm that was the first venture investor in Bill.com CEO Rene Lacerte’s earlier company, PayCycle.
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