San Francisco startup AboutLife, a provider of free personal financial planning tools, has launched with $3 million in funding from Kleiner Perkins Caufield & Byers. In addition to the investment, Randy Komisar, a general partner at KPCB, has been named to AboutLife’s board of directors.
San Francisco, September 30, 2015 – aboutLife, a San Francisco startup that provides free personal financial planning tools, unveiled its service today and announced a $3 million Series A investment from KPCB. Randy Komisar, a General Partner at KPCB, will join aboutLife’s board of directors.
The company plans to use the funds to accelerate user growth and acquire key talent to expand its suite of financial planning tools.
aboutLife’s free and easy-to-use website helps consumers to prepare for retirement and other important milestones by eliminating the guesswork from financial planning. aboutLife offers a suite of tools that help people identify their most important financial goals and provide clear, simple guidance on how they can start reaching them today. Consumers can build their plans one step at a time and aboutLife’s technology then combines each goal into an easy-to-follow, personalized and comprehensive plan. aboutLife’s tools include Budgeting, Social Security optimization, Cost of Living and Relocation, Saving for College, Working in Retirement, Estate Planning, Insurance, 401ks, and more.
“Having a plan is key to reaching your financial goals,” said Rajat Kongovi, Founder and CEO of aboutLife. “I put off creating my own plan for years because the process was complex and overwhelming. Nobody should feel that way, so we created a free service that lets you build your own plan, one simple step at a time.”
“We are seeing a massive shift in finance where the tools are being reinvented. Software is being used to simplify our relationship with financial products, and aboutLife is a great example of that,” said Randy Komisar, General Partner at KPCB. “aboutLife’s unique approach gives consumers insight on how financial products help them achieve their goals. They focus on helping people make decisions, not on managing their money, and this has the potential to transform consumer finance.”
The aboutLife service is essential for everyone. Research shows that people who have a financial plan are twice as likely to reach their financial goals. Yet, only 14% of Americans report having a retirement plan. For Baby Boomers, who are retiring at a rate of 10,000 a day, the need for an effective strategy is especially urgent. Too many, however, don’t know where to start or can’t find the information they need. With aboutLife, they can make realistic choices about their future using tools that are simple, objective, trustworthy and comprehensive.
aboutLife helps people prepare for retirement and other important milestones. The company offers a suite of financial tools that provide clear, simple guidance on key financial decisions. As consumers use each tool, aboutLife’s technology combines the results into an easy-to-follow, personalized and comprehensive financial plan.
For more information, visit https://aboutlife.com and follow us @aboutlifeco.
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai and Beijing.
For more information, visit https://www.kpcb.com and follow us @kpcb.