Consumer finance and technology company Credit Karma has secured an $85 million funding round led by Google Capital. Tiger Global and existing investors Ribbit Capital and Susquehanna Growth Equity also contributed to this latest round, bringing the total amount of equity financing raised by Credit Karma to about $120 million. The company last raised a $30 million Series B round led by Ribbit and Susquehanna in March 2013.
Founded in 2008, Credit Karma provides more than 20 million consumers with free access to their credit scores, free monitoring of their credit and financial accounts, and more, aiming to bring more transparency to the credit and finance space while giving consumers data-driven recommendations that empower them to better understand and manage their finances. The company intends to use the new capital to invest heavily in new, free services and accelerate employee hiring. As part of the new investment, Google Capital's David Lawee will join Credit Karma's Board of Directors.