We’re terrible at managing our financial affairs. That’s why there’s a need for services like Mint, Level, and dozens of other companies — all promising to make it easier for us to save money and plan our day-to-day monetary affairs. But aboutLife, which launches today, wants us to think about the bigger picture: long-term financial planning.
The financial planning company does seems to have struck a chord, as it raised $3 million for its Series A round led by Kleiner Perkins Caufield & Byers. The company says it’ll use the new capital to expand its suite of tools to help people figure out how to plan for college, take care of their parents, buy a home, manage debt, and more.
Additionally, it hopes to spend some of that money to bring on “key talent,” meaning designers, engineers, and product managers.
“Having a plan is key to reaching your financial goals,” company cofounder and chief executive Rajat Kongovi said in a release. “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.”
Available only in the U.S., aboutLife takes a unique approach to helping you plan your future without needing to deal with detailed paperwork. It told VentureBeat that it asks users a few questions about themselves and utilizes data analysis to derive the rest of the story, pulling from such resources as the U.S. Census, the Bureau of Labor Statistics, and academic studies.
AboutLife was founded by Kongovi, Bill Gossman, and Michael Owens, all of whom have extensive experience in the startup space. Kongovi was previously the chief operating officer for social gaming startup Magi.com as well as social network Hi5. Gossman is a venture partner at Mohr Davidow Ventures and Retoku Capital, and was the CEO of Hi5, where he worked alongside Kongovi. Owens is no longer with the company.