About Acorns
Acorns is a company based in Irvine (United States) founded in 2012 by Mark Dru and Jeffrey Cruttenden.. Acorns has raised $587.84 million across 11 funding rounds from investors including PayPal, NBCUniversal and Galaxy. Acorns has completed 5 acquisitions, including Acorns, EarlyBird and Pillar. Acorns offers products and services including Invest Account, Later, Early, and Banking Services. Acorns operates in a competitive market with competitors including Plinqit, Tranako, Grifin, Dvdendo and Remynt, among others.
- Headquarter Irvine, United States
- Founders Mark Dru, Jeffrey Cruttenden
- Stage Unicorn
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Acorns Grow Incorporated
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Products & Services of Acorns
Acorns offers a comprehensive portfolio of products and services, including Invest Account, Later, Early, and Banking Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for automated spare change investing into portfolios
IRA account for retirement savings and tax advantages
App and debit card for teaching kids money management
Debit card with real-time investing and high-yield accounts
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Software Development Team
93 people
Operations Team
13 people
Sales and Marketing
10 people
Finance and Accounting
9 people
Creative and Marketing Team
8 people
Investor Team
7 people
Leadership Team
7 people
Product Management Team
6 people
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Funding Insights of Acorns
Acorns has successfully raised a total of $587.84M across 11 strategic funding rounds. The most recent funding activity was a Series F round of $300 million completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 11
- Last Round Series F — $300.0M
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First Round
First Round
(19 Oct 2012)
- Investors Count 28
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2022 | Amount | Series F - Acorns | Valuation | TPG | |
| Aug, 2019 | Amount | Angel Round - Acorns | Valuation | jennifer 20lopez , Alex Rodiguez |
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| Jan, 2019 | Amount | Series E - Acorns | Valuation | Comcast Ventures , NBCUniversal |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Acorns
Acorns has secured backing from 28 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include PayPal, NBCUniversal and Galaxy. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Fund of funds focused on pre-seed and seed-stage companies
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Founded Year | Domain | Location | |
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Venture capital fund focused on investing in multiple sectors
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Founded Year | Domain | Location | |
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Tech-enabled companies are supported through venture capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Acorns
Acorns has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Acorns, EarlyBird and Pillar. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Goal-based savings and investments for children's futures are facilitated online.
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2019 | ||||
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Loan management app
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2018 | ||||
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Overdraft and banking fees are negotiated and resolved for consumers.
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2017 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Acorns
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Acorns Comparisons
Competitors of Acorns
Acorns operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Plinqit, Tranako, Grifin, Dvdendo and Remynt, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automated micro-savings app
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| domain | founded_year | HQ Location |
Spare change from purchases is automatically invested in global assets.
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| domain | founded_year | HQ Location |
Provider of an investment platform that enables stock purchases through everyday spending
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| domain | founded_year | HQ Location |
Dvdendo delivers digital investment tools and advisory services to support financial decision-making.
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| domain | founded_year | HQ Location |
Debt resolution and credit rebuilding services are offered to consumers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Acorns
Frequently Asked Questions about Acorns
When was Acorns founded?
Acorns was founded in 2012.
Where is Acorns located?
Acorns is headquartered in Irvine, United States. It is registered at Irvine, California, United States.
Who is the current CEO of Acorns?
Noah Kerner is the current CEO of Acorns.
Is Acorns a funded company?
Acorns is a funded company, having raised a total of $587.84M across 11 funding rounds to date. The company's 1st funding round was a Series E of $180.01M, raised on Oct 19, 2012.
What does Acorns do?
Founded in 2012 in Irvine, United States, Acorns operates as a fintech platform focused on micro-investing. Transactions are rounded up to the nearest dollar, with the difference automatically invested in user-selected portfolios from five options. Educational tools for financial literacy are also provided through the app, enabling accessible saving and investment for everyday users across the country.
Who are the top competitors of Acorns?
What products or services does Acorns offer?
Acorns offers Invest Account, Later, Early, and Banking Services.
How many acquisitions has Acorns made?
Who are Acorns's investors?
Acorns has 28 investors. Key investors include PayPal, NBCUniversal, Galaxy, BlackRock, and Bain Capital.
What is Acorns's valuation?
The valuation of Acorns is $1.9B as of Mar 2022.
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