Your Money Line continues growth as new investors Allos Ventures, First Trust Capital Partners, and CareSource fuel innovation in AI-powered financial coaching.
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.
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.
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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.
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