Wesabe Raises $4M in Series A Funding

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This morning, we announced that Wesabe raised $4 million in Series A funding in a round led by Union Square Ventures (USV). This is good news not only for our team (yes, we will be moving out of the “office space” above my wife’s clothing store), but also for our members – this means we’re going to speed up the roll-out of new features and make Wesabe even easier to use.

When Marc and I set out to raise our Series A, we expected a long, drawn-out process. It wasn’t, because one of our very first meetings was with USV and things just clicked. There were many reasons we decided to partner with USV, perhaps most importantly: 1) they have a fundamental respect for our members and place a high value on customer service; 2) they challenge us and make us smarter…sometimes the hard way, and 3) we simply like spending time with them.

USV partner Brad Burnham joined our board of directors, and we’re looking forward to his insight and guidance.

16 Responses to “Wesabe Raises $4M in Series A Funding”

  1. Elke Sisco Says:

    More Wheaties for your Wallet! Yayyyy!

  2. Jesse Robbins Says:

    Outstanding! Congratulations!

  3. Jason Knight Says:

    Elke & Jesse,

    Thanks for your support. We are going to keep working at making Wesabe better for our users.

  4. Chris Roos Says:

    Great work guys. Congratulations.

  5. dave mcclure Says:

    congrats jason & marc & team… you folks certainly have some solid investors behind you @ USV & OATV. nice job, and best of luck 🙂

  6. Rob Wilkerson Says:

    Congratulations, guys. You realize this just gives us license to expect even more from you…right? 🙂

  7. Don Seiler Says:

    Congrats. Now how about sponsoring my Ultimate tournament? 😉

  8. Chuck Teller Says:

    The best part about this post is “we expected a long, drawn-out process. It wasn’t …”. Raising money is a necessity for all start-ups and the process is often such a roller coaster and can really impact the morale of the team when it drags on. Congratulations on the speedy process. I look forward to more great stuff from Wesabe.

  9. Marc Hedlund Says:

    Thanks much for all the great comments. And yes, Rob, please do expect more from us now. That’s the plan. 🙂

  10. casgil Says:

    Congratulations!! i have reached your site by coincide and i like very much your service. i have read certain financial servicies companies are moving in that way.

  11. Jason Fried Says:

    “Raising money is a necessity for all start-ups and the process is often such a roller coaster and can really impact the morale of the team when it drags on.”

    Raising money is not a necessity for all start-ups. Some start-ups may be able to benefit from it (hopefully Wesabe is one of them), but it is not a necessity.

  12. Blair Crookston Says:

    Congrats, well deserved and very inspiring!

  13. Sunir Shah Says:

    Hey, awesome! Congratulations! The unwritten rules of VC funding say you have to have a kegger and post photos of you doing a keg stand on Flickr. I await evidence of your new moneyed depravity. 😉

  14. The Angelsoft Blog Says:

    […] First, I went to the Finovate conference, where I saw a lot of promising startups in the finance space. Most of these companies had raised huge amounts of capital, but there were a few in the sub million angel range that were competing due to the low cost of entry for tech startups. Buxfor in particular was a great example. They were a company of two, had raised about 300,000 in angel funding, and were competing with Mint.com (over 17 million in funding)and Wesabe (4.7 million)! […]

  15. Injengank Says:

    OK, let me repeat that… Are you ignoring my comfortable newsman Good joke 🙂 Why did the garbage look sad? Because it was down in the dumps.

  16. Wesabe’s $4 Million Series A Investment Says:

    […] Jason Knight is the founder of Wesabe and Union Square Venture partner, Brad Burnham will join Wesabe’s board of directors.  The announcement is on Wesabe’s blog[1]. […]

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