Mobile App Company Level Raises $5 Million
Level is a mobile app development company that has designed a new financial management app called Level Money. Level Money is an app that lets you see your money at a glance. It will show you the difference between the money you have and the money you are spending after users connect their bank accounts. The app also shows you how much you spend on a daily, monthly, and weekly basis. This amount is calculated by recurring deposits and debits. The app takes items like salary and rent into account.
Level has raised $5 million in funding led by Kleiner Perkins. Former Citigroup CEO Sandy Weill, former FCC chairman Reed Hundt, and former Barclays Global Investors CEO Blake Grossman also participated in this round.
Level is based in San Francisco and has 9 employees. Level co-founder and CEO Jake Fuentes used to be the chief of staff for emerging products at Visa. Frank Leary, the co-founder and chairman of Level, used to be the vice chancellor of U.C. Berkeley and is on the board of directors at Intel.