# Acorns Advisers

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/acorns-advisers

- Industry: Financial Services
- Headquarters: Irvine, US
- Website: www.acorns.com
- Total disclosed funding: $540M
- Latest round: Series F (Mar 9, 2022)
- Investors on record: 23

## About

Based in California, US, and founded in 2012, Acorns operates as a mobile application that invests sub-dollar amounts into a portfolio of index funds enabled by linking debit or credit cards and checking accounts to use on expenses. In April 2023, Acorns, a portfolio company of Cruttenden Partners, Steelpoint Capital Partners, Great Oaks Venture Capital, Jacobs Asset Management, Garland Capital Group, Greycroft Partners, Headline, Math Venture Partners, Sound Ventures, PayPal, Inc., Rakuten Capital, TPG, BlackRock, Bain Capital, Comcast Ventures, DST Global, MSD Capital, NBC Universal, Bertelsmann Digital Media Investments, TempoCap, Galaxy, Industry Ventures, Owl Rock Capital, Senator Investment Group, thirty5 Ventures, and Torch Capital, acquired GoHenry Limited from Citi Ventures, Edison Partners, Muse Capital, Revaia, and Nexi S.p.A. Noah Kerner is the CEO of Acorns.

Acorns provides an investing, banking, earning and education platform. The company’s investing product line offers investment account, individual retirement account, investment for kids, and sustainable ESG portfolios. The company's banking product line offers personal checking, investment, and retirement accounts in a single application, digital banking, direct deposits, mobile check deposit, check sending and more. Earning product line offers customers to earn money in every shopping across 350 brands or finding a job. In addition, the company offers learning material, such as money basics for understanding finance and Grow magazine in partnership with CNBC.

Acorns generates revenue through subscription of its product packages, which include personal (USD 3 per month) and family (USD 5 per month).

Acorns plans to go public through the completion of a merger with publicly traded special purpose acquisition company Pioneer Merger Corp.

## Funding rounds

- Series F, Mar 9, 2022, $300M — Bain Capital, TPG, Industry Ventures, Headline, Greycroft, BlackRock, Senator Investment Group, Galaxy Asset Management, Torch Capital, Thirty5 Ventures, Owl Rock Capital Private Fund Advisors
- Series E, Jan 25, 2019, $180M — Bain Capital, TPG, Comcast Ventures, NBCUniversal Media, LLC, DFO Management, DST Global, BlackRock
- Series D, Mar 21, 2016, $30M — PayPal, Inc., Rakuten Capital
- Series C, Apr 2, 2015, $23M — Headline, Greycroft, Sound Ventures, Garland Capital Group, Math Venture Partners
- Series B, Feb 28, 2014, $6.2M — Great Oaks Venture Capital, Jacobs Asset Management
- Series A, Oct 19, 2012, $1.1M — Steelpoint Capital Partners

## Investors

- Steelpoint Capital Partners (https://capitalatlas.ai/funds/steelpoint-capital-partners) — Series A
- Great Oaks Venture Capital (https://capitalatlas.ai/funds/great-oaks-venture-capital) — Series B
- Jacobs Asset Management (https://capitalatlas.ai/funds/jacobs-asset-management) — Series B
- Headline (https://capitalatlas.ai/funds/headline) — Series C, Series F
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series C, Series F
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Series C
- Garland Capital Group (https://capitalatlas.ai/funds/garland-capital-group) — Series C
- Math Venture Partners (https://capitalatlas.ai/funds/math-venture-partners) — Series C
- PayPal, Inc. — Series D
- Rakuten Capital (https://capitalatlas.ai/funds/rakuten-capital) — Series D
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series E, Series F
- TPG (https://capitalatlas.ai/funds/tpg) — Series E, Series F
- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Series E
- NBCUniversal Media, LLC — Series E
- DFO Management — Series E
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series E
- BlackRock (https://capitalatlas.ai/funds/blackrock) — Series E, Series F
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Series F
- Senator Investment Group (https://capitalatlas.ai/funds/senator-investment-group) — Series F
- Galaxy Asset Management (https://capitalatlas.ai/funds/galaxy-asset-management) — Series F
- Torch Capital (https://capitalatlas.ai/funds/torch-capital) — Series F
- Thirty5 Ventures (https://capitalatlas.ai/funds/thirty5-ventures) — Series F
- Owl Rock Capital Private Fund Advisors — Series F