AI-based employee financial wellness benefits company Your Money Line announced it raised $4.5 million in Series A funding led by Allos Ventures, with participation from First Trust Capital Partners, CareSource, and Elevate Ventures.
This funding round will accelerate the development of Your Money Line’s financial wellness solution and its mission to improve economic stability. Your Money Line (YML) works with businesses, schools, and hospitals nationwide to address employee stress, providing financial coaching as an employee benefit. Offered free to the employee, YML uses AI-powered money tracking and suggestions in their software with empathetic live coaches to guide employees toward greater financial health.
Peter Dunn, founder and CEO of Your Money Line (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 funding round, 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.
Since the 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 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, etc.
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.
KEY QUOTES:
“Financial instability is a perpetual problem for American workers—and for their employers. It’s refreshing to be aligned with successful investors who want to answer the call and be part of the solution.”
- Peter Dunn, founder and CEO of Your Money Line
“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. I’ve learned so much. Your Money Line changed my life for the better and I greatly appreciate it.”
- A participant at a large hospital system
“Employees today expect wellness benefits from their companies, and Your Money Line is building a comprehensive, modern solution to eliminate employee financial stress. 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.”
- David Kerr, Managing Director at Allos Ventures
