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- Rocket Money
Rocket Money Acquisition, Valuation, Funding & Investors
Rocket Money was acquired by Rocket Companies for $1.3B in December 2021, a 12.8x multiple on $100M of revenue.
Rocket Money revenue at acquisition
$100M
Last twelve months · Dec 2021
Rocket Money revenue multiple at acquisition
12.8x
EV/Revenue · Dec 2021
Cumulative funding Rocket Money raised
$84M
across 7 funding rounds
About Rocket Money
Rocket Money is a personal finance management platform formerly known as Truebill. Launched in 2015 and headquartered in San Francisco, California, the app connects to bank accounts and credit cards to track subscriptions, recurring bills, and spending. Users cancel unwanted services directly through the interface, with backing from Y Combinator, Social Capital, Cota Capital, and Bessemer Venture Partners.
Founded
2015
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Subscription
Revenue
$100M (Dec 2021)
Valuation
$500M (Jun 2021)
Rocket Money Acquisition
Rocket Money was acquired by Rocket Companies for $1.3B on 20 December 2021.
The acquisition price implies a 12.8x revenue multiple on $100M of revenue.
Before the acquisition Rocket Money had raised $84M across 7 funding rounds.
Rocket Companies acquired Truebill, a leading personal finance app that helps users manage subscriptions, improve credit scores, track spending, and build budgets, in December 2021 for $1.275 billion. The acquisition accelerates Rocket Companies' vision to assist clients during complex financial moments by integrating Truebill's services into its platform. Truebill, rebranded as Rocket Money post-acquisition, had an annualized recurring revenue exceeding $100 million as of the acquisition date, more than double the prior year's run rate. This strategic addition broadens Rocket's ecosystem to manage clients' entire financial lives alongside its mortgage and real estate services.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 20 Dec 2021 | Strategic M&A | $1.3B | 12.8x |
Rocket Money Valuation
Rocket Money is currently valued at $500M, based on its Series D in June 2021.
The $45M round was led by Accel, with participation from Bessemer Venture Partners, Cota Capital and Eldridge Industries.
Rocket Money valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2021 | Series D | $500M |
Rocket Money Funding History
Rocket Money has raised a total of $84M across 7 funding rounds.
Rocket Money's first fundraising round was a $100K angel round in October 2014. The most recent completed round was a $45M Series D in June 2021.
Rocket Money funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series D | Accel (lead); Bessemer Venture Partners; Cota Capital; Eldridge Industries | $45M | $500M | Rocket Money, formerly known as Truebill, is a personal finance management platform founded in 2015 and backed by Y Combinator (W16 cohort). The company raised $45 million in Series D funding in June 2021 from leading investors including Accel, Bessemer Venture Partners, Cota Capital, and Eldridge Industries. The company has raised approximately $82 million to $112 million in total funding across five rounds by June 2021. Rocket Money was subsequently acquired by Rocket Companies for $1.275 billion, indicating significant growth and market validation following this Series D round. The company operates in the personal finance and fintech space, serving as a B2C platform for financial management and optimization. |
| Nov 2020 | Series C | Bessemer Venture Partners (lead); Firebolt Ventures; Day One Ventures; Cota Capital; Eldridge Industries | $17M | - | Rocket Money raised $17 million in a Series C funding round on November 12, 2020, led by Bessemer Venture Partners with participation from Cota Capital, Day One Ventures, Eldridge Industries, and Firebolt Ventures. The company, formerly known as Truebill, operates in the personal finance management space. Subsequent rounds included a $45 million Series D in June 2021 at a $500M valuation from investors including Accel, Bessemer Venture Partners, Cota Capital, and Eldridge. The company was later acquired for $1,275M on December 20, 2021. |
| Oct 2019 | Series B | Eldridge Industries (lead); Plug and Play; Lucas Venture Group; Evolution VC Partners; Bessemer Venture Partners; Cota Capital; Jawed Karim | $15M | - | Rocket Money (formerly Truebill) raised funding from investors including Bessemer Venture Partners, Cota Capital, Eldridge Industries, and others, with later rounds documented such as a Series C in November 2020 and Series D in June 2021 at a $500M valuation. The company has raised a total of $83.85M across 11 rounds. Eldridge Industries participated in multiple Rocket Money funding rounds. |
| Oct 2018 | Series A | Jeremy Yap; Dave Gilboa; Lucas Venture Group; Hiten Shah; MaC Venture Capital; Social Capital; Day One Ventures; Cota Capital; Jawed Karim; Marc Katz; Jigar Shah; David Marcus | $5M | - | Rocket Money, formerly Truebill, is a personal finance app that helps users manage subscriptions, lower bills, build budgets, and save money. The company has raised a total of $83.85M across 11 funding rounds, with investors including Cota Capital, Day One Ventures, Bessemer Venture Partners, Accel, and Eldridge. Later rounds include a $17M Series C in November 2020 and $45M Series D in June 2021 at $500M valuation. |
| Jun 2016 | Seed | CSC Upshot; Plug and Play; Edward Lando; Transmedia Capital; Pareto Holdings; ACME Capital; NKM Capital; Shervin Pishevar; Social Capital | $2M | - | - |
| Mar 2016 | Seed | Y Combinator (lead); Hiten Shah; Arjun Sethi; Signatures Capital; Bobby Yazdani; Brad Flora; David Marcus | $400K | - | - |
| Oct 2014 | Angel | - | $100K | - | - |
Who has invested in Rocket Money?
30 investors have backed Rocket Money across its funding rounds, including Cota Capital, Bessemer Venture Partners, Eldridge Industries, Plug and Play, Social Capital and Day One Ventures.
Lead investors include Accel, Bessemer Venture Partners, Eldridge Industries and Y Combinator.
Rocket Money Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Oct 2018 | ||
| 3 | Lead | Oct 2019 | ||
| 3 | Lead | Oct 2019 | ||
| 2 | Participant | Jun 2016 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Mar 2016 | ||
| 2 | Participant | Jun 2016 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Mar 2016 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Participant | Jun 2016 | ||
| 1 | Participant | Nov 2020 | ||
This data is available for Pro users. Sign up to see all 30 Rocket Money investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialRocket Money Competitors
Rocket Money competitors include listed companies like Green Dot and Klarna, and private ones like Stori, DANA, Tyme Group and Tamara.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $300M | - | $1.2B | 4.0x | ||
| Private | - | - | $1.1B | - | ||
| Private | $168M | - | $1.5B | 8.9x | ||
| Private | $360M | $52M | $1B | 2.8x | ||
| Publicly listed | $2.1B | ($12M) | $751M | 0.3x | ||
| Publicly listed | $3.5B | $551M | $5.3B | 1.3x |
Rocket Money Public Comps
Rocket Money is no longer listed, but its public comps include PicPay, Atlanticus, Upbound, Arzan Financial Group, Agibank, Qfin Holdings, Wealthfront, Standard Chartered Bank Kenya, Superbank Indonesia and Forbright Bank.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $205M | 1.0x | 0.5x | 6.0x | 3.8x | |||
| $403M | - | 18.4x | 2.7x | - | - | |||
| $4.7B | $1.7B | 0.6x | 0.6x | 1.5x | 5.2x | |||
| $37M | - | 32.4x | - | - | - | |||
| $1.3B | $227M | 0.8x | 0.6x | 4.4x | 5.3x | |||
| $2.4B | - | 0.8x | 0.8x | - | - | |||
| $365M | ($93M) | 4.3x | 4.2x | (17.0x) | 9.9x | |||
| $323M | - | 3.0x | - | - | - | |||
This data is available for Pro users. Sign up to see all Rocket Money competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Rocket Money
| When was Rocket Money founded? | Rocket Money was founded in 2015. |
| Where is Rocket Money headquartered? | Rocket Money is headquartered in Washington, DC, United States. |
| Is Rocket Money publicly listed? | No, Rocket Money was acquired by Rocket Companies in December 2021. |
| Who acquired Rocket Money? | Rocket Money was acquired by Rocket Companies in December 2021. |
| How much was Rocket Money acquired for? | Rocket Money was acquired for $1.3B in December 2021, a 12.8x revenue multiple. |
| What is Rocket Money's valuation? | Rocket Money was last valued at $500M in its Series D in June 2021. |
| How much funding has Rocket Money raised? | Rocket Money has raised $84M across 7 funding rounds. |
| What was Rocket Money's last funding round? | Rocket Money's last funding round was a $45M Series D in June 2021, led by Accel. |
| Who are Rocket Money's investors? | Rocket Money's investors include Cota Capital, Bessemer Venture Partners, Eldridge Industries, Plug and Play, Lucas Venture Group, Hiten Shah, Social Capital, Day One Ventures, Jawed Karim, David Marcus and 20 others. |
| Which companies are comparable to Rocket Money? | Companies comparable to Rocket Money include Stori, DANA, Tyme Group, Tamara, Green Dot and Klarna. |
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