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Your Money Line raises $4.5M Series A to improve employee financial health with AI
Your Money Line's Series A investors include Allos Ventures, First Trust Capital Partners, CareSource, and Elevate Ventures.
Your Money Line is an employee's financial sidekick, flagging issues and suggesting areas to improve.
Your Money Line continues growth as new investors Allos Ventures, First Trust Capital Partners, and CareSource fuel innovation in AI-powered financial coaching.
Since working with YML, my credit score has gone up almost 200 points....Your Money Line changed my life for the better and I greatly appreciate it.”
INDIANAPOLIS, INDIANA, UNITED STATES, August 14, 2024 /EINPresswire.com/ -- Your Money Line, a leader in employee financial wellness benefits, today announced a $4.5M Series A funding round, led by Allos Ventures, with participation from First Trust Capital Partners, CareSource, and Elevate Ventures. The funding will accelerate the development of Your Money Line’s financial wellness solution and their mission to improve financial stability and confidence for all. — Real YML participant at a major hospital
American workers repeatedly cite financial stress as their number one stressor. Your Money Line (YML) partners with businesses, schools, and hospitals across the country to alleviate this stress for employees—offering financial coaching as an employee benefit. Provided free to the employee, YML pairs AI-powered money tracking and suggestions in their software with empathetic live coaches to guide employees toward greater financial health.
“Financial instability is a perpetual problem for American workers—and for their employers,” said Peter Dunn, founder and CEO of Your Money Line. “It's refreshing to be aligned with successful investors who want to answer the call and be part of the solution." Dunn, commonly known as Pete the Planner®, is a former financial planner who has spent the last 20 years as a leading voice on employee financial health through his syndicated radio show, newspaper columns, books, and keynote speaking.
With this investment, David Kerr, Managing Director at Allos Ventures, and Mark Kroeger, Senior Vice President at First Trust Capital Partners, will join Your Money Line’s board of directors.
“Employees today expect wellness benefits from their companies, and Your Money Line is building a comprehensive, modern solution to eliminate employee financial stress,” said Kerr. “They have an impressive track record of guiding employees—at organizations big and small—to better financial futures. I’m excited for Allos to be part of their next season of growth.”
Your Money Line has already helped tens of thousands of employees improve their financial lives, and has received over 1,000 5-star reviews from users. “Since working with YML, my credit score has gone up almost 200 points. [I now have] enough to cover hiccups in life, like major car repairs and unexpected medical costs,” said one participant at a large hospital system. “I've learned so much. Your Money Line changed my life for the better and I greatly appreciate it.”
Since their last funding round, the company has significantly grown their customer base and revenue, and brought on SaaS executives Ben Battaglia (Seismic, Lessonly) and Philip Tallman (TimelyCare, CampusLogic) to lead marketing and sales, respectively. Your Money Line was also named as one of the 2024 Best Places to Work in Indiana and was selected to be part of UKG Labs, a top HR technology accelerator program. In the back half of 2024, the company will add roles in engineering, product, sales, financial coaching, client success, and more. Learn more and apply at yourmoneyline.com/careers.
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About Your Money Line:
Your Money Line is a leading employee financial wellness benefit. Your Money Line pairs AI-powered software with empathetic live coaches to guide participants to greater financial stability and confidence. Hundreds of businesses, schools, and hospital systems trust Your Money Line to improve employee wellness, engagement, & retention. Your Money Line is headquartered in Indianapolis and was founded by financial author and radio host, Peter Dunn (a.k.a. Pete the Planner®). Learn more at yourmoneyline.com.
About Allos Ventures:
Allos Ventures targets investments in early-stage technology companies based in the Midwest. The firm focuses on investments in B2B software companies at the Seed or Series A stage in sectors such as Human Capital Management, RegTech, FinTech, HealthTech, EdTech, and Transportation and Logistics Management. In addition to growth capital, portfolio companies benefit from the extensive operating and business-building experience of the firm's managing directors, who make themselves available as needed to support portfolio company growth.
Ben Battaglia
Your Money Line
+1 847-275-0668
press@yourmoneyline.com
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