About Backer
Backer is a company based in San Francisco (United States) founded in 2015.. Backer has raised $18.03 million across 3 funding rounds from investors including WndrCo, Crosslink Capital and Rally Ventures. The company has 11 employees as of December 31, 2022. Backer has completed 1 acquisition, including Saving for College. Backer offers products and services including Backer App and 529 Plan Service. Backer operates in a competitive market with competitors including SavvyFi, Quatromoney, Hadley, U-Nest and My Dobot, among others.
- Headquarter San Francisco, United States
- Employees 11 as on 31 Dec, 2022
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Sectors
Financial ServicesTechnology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Backer Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$18.03 M (USD)
in 3 rounds
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Latest Funding Round
$9.5 M (USD), Series A
Dec 19, 2023
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Investors
WndrCo
& 10 more
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Employee Count
11
as on Dec 31, 2022
- Investments & Acquisitions
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Products & Services of Backer
Backer offers a comprehensive portfolio of products and services, including Backer App and 529 Plan Service. 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.
Mobile app for managing 529 plans and contributions
Service for opening and automating education savings accounts
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Funding Insights of Backer
Backer has successfully raised a total of $18.03M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $9.5 million completed in December 2023. 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 3
- Last Round Series A — $9.5M
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First Round
First Round
(31 Jul 2015)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2023 | Amount | Series A - Backer | Valuation | WndrCo |
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| Apr, 2021 | Amount | Series A - Backer | Valuation | Crosslink Capital | |
| Jul, 2015 | Amount | Seed - Backer | Valuation | 500 Global |
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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 Backer
Backer has secured backing from 11 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include WndrCo, Crosslink Capital and Rally 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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Venture capital is invested in various sectors by Crosslink Capital.
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Founded Year | Domain | Location | |
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Early-stage VC firm investing in the US
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Founded Year | Domain | Location | |
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Venture capital firm focused on aerospace, biopharma, consumer, and multiple sectors
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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 Backer
Backer has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Saving for College. 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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Information portal for on 529 plans and college savings
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1999 |
| 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 - Backer
| 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 |
Backer Comparisons
Competitors of Backer
Backer 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 SavvyFi, Quatromoney, Hadley, U-Nest and My Dobot, 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 |
Goal-based savings plans for children's college education are provided.
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| domain | founded_year | HQ Location |
A savings platform is offered for children's education funding.
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| domain | founded_year | HQ Location |
Goal-based educational savings are enabled for individuals via mobile platforms.
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| domain | founded_year | HQ Location |
Serves as a platform for saving and managing education expenses.
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| domain | founded_year | HQ Location |
Micro-savings are automated through analysis of income and spending habits.
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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 Backer
Frequently Asked Questions about Backer
When was Backer founded?
Backer was founded in 2015.
Where is Backer located?
Backer is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Backer a funded company?
Backer is a funded company, having raised a total of $18.03M across 3 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Jul 31, 2015.
How many employees does Backer have?
As of Dec 31, 2022, the latest employee count at Backer is 11.
What does Backer do?
Backer was founded in 2015 in San Francisco, United States, and operates in the fintech sector focused on education savings. An online platform is offered for opening and managing 529 plans, with personalized advice provided to optimize contributions and investments. Users are enabled to invite family and friends for additional funding, while cashback rewards are earned through partnerships with retail brands for college-related expenses.
Who are the top competitors of Backer?
Backer's top competitors include SavvyFi, Quatromoney and My Dobot.
What products or services does Backer offer?
Backer offers Backer App and 529 Plan Service.
How many acquisitions has Backer made?
Backer has made 1 acquisition, including Saving for College.
Who are Backer's investors?
Backer has 11 investors. Key investors include WndrCo, Crosslink Capital, Rally Ventures, Correlation Ventures, and Expansion Venture Capital.
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