About Approved
Approved is a company based in San Diego (United States) founded in 2015 was acquired by Credit Karma in August 2018.. Approved has raised $1 million across 2 funding rounds from investors including Credit Karma, Social Capital and Precursor Ventures. Approved operates in a competitive market with competitors including SimpleNexus, Roostify, Cloudvirga, BlueSage and Vesta, among others.
- Headquarter San Diego, United States
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1 M (USD)
in 2 rounds
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Latest Funding Round
$1 M (USD), Seed
Apr 11, 2017
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Investors
Credit Karma
& 5 more
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Employee Count
Employee Count
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Acquired by
Credit Karma
(Aug 16, 2018)
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Funding Insights of Approved
Approved has successfully raised a total of $1M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $1 million completed in April 2017. 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 2
- Last Round Seed — $1.0M
- First Round First Round
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2017 | Amount | Seed - Approved | Valuation | Social Capital , Precursor Ventures | |
| May, 2016 | Amount | Seed - Approved | Valuation | EvoNexus |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 Approved
Approved has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include Credit Karma, Social Capital and Precursor Ventures. 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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US focused VC firm investing in seed & growth stage companies
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Founded Year | Domain | Location | |
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Venture capital investments in pre-seed and seed stages, focusing on founders.
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Founded Year | Domain | Location | |
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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 Approved
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
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 |
Financial Statements - Approved
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 |
Approved Comparisons
Competitors of Approved
Approved 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 SimpleNexus, Roostify, Cloudvirga, BlueSage and Vesta, 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 |
Loan life cycle management platforms are developed for mortgage lenders.
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| domain | founded_year | HQ Location |
Digital loan origination solutions are provided for mortgage lenders.
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| domain | founded_year | HQ Location |
Cloud-based automation of mortgage lending processes is provided.
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| domain | founded_year | HQ Location |
Cloud-based mortgage origination and customer engagement solutions are provided.
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| domain | founded_year | HQ Location |
Pillow and duvet cover products are provided by Vesta brand.
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| domain | founded_year | HQ Location |
Competitive analytics and pricing are offered for the mortgage sector.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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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Frequently Asked Questions about Approved
When was Approved founded?
Approved was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Approved located?
Approved is headquartered in San Diego, United States. It is registered at San Diego, California, United States.
Is Approved a funded company?
Approved is a funded company, having raised a total of $1M across 2 funding rounds to date.
What does Approved do?
Approved was founded in 2015 in San Diego, United States, and operates within the mortgage lending software sector. An online platform is provided for loan officers, account managers, underwriters, and lenders to facilitate streamlined lending operations. Borrower dashboards include automated reminders and DocVision camera scanning, while lender dashboards feature loan program templates, DocCast for importing bank statements and tax forms, and eSignatures. White-label solutions are offered for customized branding.
Who are the top competitors of Approved?
Approved's top competitors include Cloudvirga, Floify and Acre.
Who are Approved's investors?
Approved has 6 investors. Key investors include Credit Karma, Social Capital, Precursor Ventures, Bluesky Equities, and Graph Ventures.
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