New funding takes SmartAsset’s business valuation to the unicorn territory at more than $1 billion. Before this, the New York-based startup company last raised funds in June 2018, and the company’s revenue has grown by 10x since then, with nearly $100 million in annual recurring revenue (ARR). The Series D funding comes after the startup company partnered up with LPL Financial and the launch of its Live Connections solution. Through its personal finance tools and personalized calculators, the fintech startup reaches over 100 million people on a monthly basis. Moreover, financial advisors and companies on its SmartAdvisor platform accumulate $1.5 billion in new, closed assets under management (AUM) each month. They said it was a mix of inbound and outbound sales.“Our mission is to help people get better financial advice. It's exclusively outbound sales for at least the first 6 months or so while you ramp. This would not be a problem if there were qualified ppl to sell to. Because of compliance almost all the major firms cannot work with us. They said top performers exceed quota by cold calling/LinkedIn/cold emails. All the top performers get inbound leads or have "referral networks" from prior industry experience etc. Very rarely if ever are cold deals closed. They said they were investing in new technology. The technology (CRM, call recording, sequencing etc) barely work. It's so bad it would be funny if my paycheck didn't depend on it. Everyone agrees about this, it's a running gag. And because we work remotely it is almost impossible to get help from IT. You send a slack message and hopefully by the end of the day they respond. I've never really received support I felt good about. On that theme they said we had a plan to return to the office. I guess they "changed their mind" we are 100% remote. Which probably wouldn't not be a huge deal if things actually worked. If you prefer remote this is a plus though. When I bring up these concerns I get a response like a politician waffling, avoiding my questions and concerns. Most of the lower and mid-management I've talked to agrees with me but they can't do anything to change it. The company has been around for a decade and has never been profitable. Hi this is Dave Frisone, CRO at SmartAsset. I’m sorry to hear that you aren’t having a world class experience at SmartAsset. SmartAsset is scaling very quickly and our sales team consistently exceeds quota month after month, but that said, there is always room for improvement, so I appreciate your feedback as we take all reviews very seriously and look to implement change when possible. Like any sales role, this job is certainly demanding, so it’s imperative that you lean on your manager and training team for support and let us know directly the areas (sales skills development, operational/tech support, etc) where we can help you succeed, especially during your ramp up period.Īlso, as we grow the sales team to keep up with demand, setting proper expectations during the interviewing process is extremely important, so your feedback there is particularly valuable, and I will personally work with the recruiting team to ensure we better align on what to expect when joining the team.įinally, regarding our plan to get back to an office in some capacity, while I agree that salespeople benefit from some in-person interaction, we are constantly evaluating the risk/reward as we all navigate the Covid-19 pandemic and have currently halted all in-person gatherings for the safety of our colleagues. That said, I encourage you to speak with your sales leader and/or take the hybrid office survey to ensure your voice is heard. Thanks again for your review, and please feel free to put some time on my calendar to discuss any ideas in more detail.Atlanta-based FinTech investor TTV Capital has closed its fourth fund with $93m. The fund is more than twice the size of its third fund that closed at $40m in 2013. The firm’s managing partner Gardiner Garrard said: “The TTV team is thrilled to have Fund IV fund raising wrapped up so we can focus all of our attention on building out the rest of the portfolio and helping all of our companies achieve notable revenue growth and scale.” TTV Fund IV’s includes a sovereign wealth fund, endowments, foundations, family offices, Invest Georgia and strategic investors among its limited partners.
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