Citi Ventures invests in analytics-powered finance app Clarity Money

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Clarity Money, made up of industry veterans from Google, Betterment, American Express and IBM, have announced an $11 million Series B funding round led by RRE and Citi Ventures.

The new financing round comes just a short time after the company raised a $3.5 million Series A round. Existing investors include Bessemer Venture Partners, Soros Capital, RRE Ventures and Maveron Ventures.

Clarity Money is a personal finance management app that uses artificial intelligence and data science to help consumers make smarter financial decisions. The app enables users to lower their bills, get a better credit card, create a savings account and manage their finances, all from within an easy to use application.

According to Stuart Ellman of RRE Ventures, “Clarity Money’s app is not just another personal financial manager.”

“Clarity leverages artificial intelligence and insights to deliver on the promise of true financial advocacy and empowerment for everyone. We have backed Adam Dell in the past and are impressed with the phenomenal team he has brought together to tackle this immense opportunity,” he continued.

Luis Valdich, Managing Director at Citi Ventures, stated, “Citi Ventures is pleased to support Clarity Money, which is committed to responsible finance and is empowering consumers via APIs with actionable insights and third-party products that can help improve their financial health.”

Clarity is led by serial entrepreneur Adam Dell, who has started several companies. Beyond its team of technology industry veterans from Google, IBM, Betterment and American Express, Clarity has an all-star packed Customer Advisory Council, which includes experts Niall Ferguson, Laurence A. Tisch Professor of History at Harvard University, Erich Ringewald, the Chief Technical Architect at American Express, and Dan Ariely, Professor of Psychology and Behavioral Economics at Duke University.

Commenting on the successful investment round, Adam Dell, Founder and CEO, stated, “Clarity Money is honored to have attracted such a stellar group of investors who support our mission of empowering Americans to take control of their finances”.

More here [businesswire]

This article originally appeared on TheFintechBuzz

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